Tag Archives: ICE Mortgage Technology

Driven by increased activity in the jumbo mortgage market, the MBA reported mortgage credit availability on the rise to begin Q4, as lenders have begun to offer more ARM products to offset mortgage rates that reached nearly 8% in the second half of October.

Former ICE, Sagent, and Ellie Mae executive joins mortgage tech provider to spearhead product development of the company’s Empower software and digital products.

The MBA's Mortgage Credit Availability Index revealed that August's share of mortgage credit availability was on the upswing after a decrease in July, which resulted in the lowest level of credit availability recorded since 2013.

“Mortgage credit availability was essentially unchanged in June, remaining close to the lowest level since early 2013, as the industry continues to operate at reduced capacity,” said Joel Kan, Mortgage Bankers Association VP and Deputy Chief Economist.

The MBA reports that mortgage credit availability fell for the third straight month in May, dropping to levels last recorded in January 2013.

Despite the Fed continuing to raise interest rates, overall mortgage refinance application volume rose 10% week-over-week, hitting levels last seen in September of 2022.

“With the spring buying season underway, lenders are grappling with the threat of a recession and tighter overall financial conditions following the recent bank failures,” said Joel Kan, MBA’s VP and Deputy Chief Economist.

Most lenders have automated much of the front end of their processes, and now, Robotic Process Automation (RPA) technology is helping to automate the in-between functions.

For the first time in nine months, the MBA reports that mortgage credit availability increased in November, driven by a spike in the interest of ARM loans amid a declining rate environment.

The MBA reports that credit standards are becoming more restrictive, as its Mortgage Credit Availability Index drops to its lowest level since March of 2013.