As a result the recent integration, LRES' DirectConnect hub is now able to deliver collateral valuation reports to users of Bay Docs' Reverse Express loan origination system, offering customers full valuation lifecycle management.
Read More »Rising Home Values Spark HELOC Activity
TD Bank reported Monday the results of its inaugural Consumer Borrowing Index, a survey of more than 1,300 U.S. HELOC borrowers created to provide insights into their motivation, usage, and perceptions of the loan. According to the bank's survey, 53 percent of homeowners polled said the value of their home has increased in the past few years, giving them more equity to pull from.
Read More »Lenders: Increasing Mortgage Availability Not Worth Regulatory Risk
In a poll conducted by the Collingwood Group throughout October, 71 percent of mortgage lenders said the odds of them lowering credit score requirements for borrowers are between "somewhat" and "extremely unlikely," with several saying they feel their standards are already relatively low and that they generally follow the credit parameters set by agency investors.
Read More »Housing Affordability Suffers in Major Markets
According to Interest.com's 2014 Home Affordability Study, middle-income families can afford a median-priced home in fewer than half of the country's 25 largest metros as house prices and mortgage rates outpace wage growth. While home price gains have slowed to a more reasonable rate of 4 percent nationally over the past year, that increase is still well ahead of the 2 percent pickup in incomes.
Read More »Home Affordability Dips in Third Quarter
The National Association of Home Builders (NAHB) reported that 61.8 percent of new and existing homes sold from July through September were affordable to American households earning the median U.S. income of $63,900. That was down from the 62.6 percent of homes sold that were affordable to median-income earners in the second quarter.
Read More »October Home Sales Edge Up in California
According to data released Thursday by CoreLogic DataQuick, sales statewide—including all sales of single-family houses and condos—totaled 36,830 last month, up 1.4 percent from 36,316 in September. A year ago, sales in the Golden State came to 36,468, down 1.0 percent from the most recent data.
Read More »New Home Purchase Apps Jump 8% in October
MBA released on Thursday its Builder Applications Survey for October, revealing an 8 percent monthly pickup in new home purchase applications after a flat September. Mike Fratantoni, chief economist for the group, noted that the biggest increase came in applications for higher-priced homes.
Read More »loanDepot to Acquire Mortgage Master in Major M&A Deal
loanDepot, one of the nation's largest nonbank mortgage lenders, is set to acquire super-regional mortgage firm Mortgage Master in a deal expected to close early next year, the companies announced.
Read More »Mortgage Rates Little Changed in Latest Week
Freddie's Primary Mortgage Market Survey, released Thursday, shows the 30-year fixed-rate mortgage (FRM) coming in at an average interest rate of 4.01 percent (0.5 point) for the week ending November 13, just down from last week's average of 4.02 percent.
Read More »Originator Satisfaction Scores Rise Despite Customer Frustrations
Mortgage finance customers in the last year rated their experience as a C-plus, according to a recent report from J.D. Power, with overall satisfaction averaging 786 on a 1,000-point scale. That compares to a rating of 771 in the company's 2013 survey.
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