Linda B. Bammann will be resigning from Freddie Mac's board of directors at the end of July, the company announced.
Read More »MBA Revises Economic Forecast Down, Originations Up
The Mortgage Bankers Association (MBA) revised its economic forecast down and its mortgage originations and mortgage rate forecasts up in its most recent outlook released Thursday. Having previously announced a 2.4 percent economic growth forecast for the second half of this year, MBA now believes economic growth will be closer to 2.2 percent. At the same time, the association's forecast for originations has risen to about $606 billion, an improvement over the original prediction of $527 billion.
Read More »QMS CEO Notes Top Three Compliance Problems in Loan Applications
In a company release, Tommy Duncan, CEO of Quality Mortgage Services (QMS) and Certified Mortgage Technologist, exposed and explained the top three compliance issues concerning problematic mortgage origination applications.
Read More »Alliant National Brings on Senior Claims Counsel
In Colorado, Alliant National Title Insurance Company announced the hiring of Noemi Lopez as senior claims counsel.
Read More »First-Time Unemployment Claims Creep Up
The Department of Labor reported Thursday that advance initial unemployment figures for the week ending July 20 totaled 343,000, an increase of 7,000 over the previous week's revised tally. The four-week moving average for first-time claims was 345,250, a decline of 1,250 from the prior week.
Read More »Mortgage Rates Fall for Second Straight Week
Mortgage rates backed down for the second consecutive week, according to reports from Freddie Mac and Bankrate.com. Freddie Mac's Primary Mortgage Market Survey put the 30-year fixed-rate average at 4.31 percent (0.8 point) for the week ending July 25, down from last week's 4.37 percent. Meanwhile, Bankrate's weekly national survey showed the 30-year fixed falling to 4.54 percent and the 15-year fixed dropping to 3.61 percent. The downward trend may not last, however.
Read More »More Older Americans Submitting Online Mortgage Applications
A growing number of older Americans are applying for mortgage loans online, according to a recent survey from Mortgage Marvel. Thirty-five percent of mortgage applicants are past the age of 50, according to the survey of more than 650,000 applications submitted to more than 1,100 lenders in 2012. "[P]lenty of older Americans are computer savvy and very willing to pursue major transactions, such as mortgage applications, on the Internet," said Mortgage Marvel COO Rick Allen.
Read More »Bay State Sales Rise for Second Month as Prices Reach Six-Year High
Single-family home sales in Massachusetts rose for the second straight month in June, according to the latest report from the New England-based Warren Group.
Read More »Home Price Recovery Spreads in June
Home sales and prices grew in June in the vast majority of counties covered by DataQuick's monthly Property Intelligence Report (PIR).
Read More »DocMagic Recruits Director of Software Development
DocMagic, Inc. announced the appointment of Brian Yoder as director of software development.
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