Tag Archives: Processing

Ellie Mae released its Origination Insight Report for February, revealing that the closing rate for loan applications initiated 90 days prior--in November--was 56.8 percent.

Designing Spaces, a home improvement show airing on Lifetime Television, will feature an appearance from Equity Loans LLC. A representative from the Atlanta-based lender will feature on the show as part of an upcoming "Arming Yourself with Home Loan Knowledge, Tips for Successful Ownership" segment.

Deloitte's Consumer Spending Index experienced a minor bump in February as "a decline in initial unemployment claims and a rise in real average hourly earnings offset negative forces," the company reported Wednesday. The index, which tracks consumer cash flow as an indicator of future spending, rose slightly to 4.0 last month from a reading 3.9 in January. While the increase was relatively small, it turned around three straight months of declines and showed consumers are weathering the payroll tax increase well.

David Stevens, president and CEO of the Mortgage Bankers Association (MBA), announced the promotion of Kenneth Markison, Esq., to VP and regulatory counsel. In his new role, Markison will lead and manage MBA's public policy initiatives around residential loan production, legal issues, and regulatory compliance.

LenderLive Network Inc., an end-to-end mortgage services provider, hired two industry veterans for executive positions.

Prices rose in February for the 11th straight month as markets across the country picked up speed, according to Redfin's Real-Time Price Tracker.

Mortgage Cadence LLC announced that Langley Federal Credit Union (FCU) in Virginia will now use the Symphony platform to support its expanding mortgage program.

Richard Cordray's nomination to continue leading the Consumer Financial Protection Bureau (CFPB) is headed to the Senate following a vote from the Committee on Banking, Housing, and Urban Affairs Tuesday. The committee confirmed Cordray's nomination by a party-line vote of 12-10, with Republican members keeping to their vow to not support any potential leader until CFPB's structure is fundamentally changed. Ranking member Sen. Mike Crapo specifically criticized the agency's spending, which he says is not as transparent as it should be.

Housing permits rose a sharp 4.6 percent to a seasonally adjusted annual rate of 946,000 in February, to the highest level since June 2008, while housing starts edged up 0.8 percent to 917,000, the Census Bureau and HUD reported jointly Tuesday. Most--almost 62 percent├â┬ó├óÔÇÜ┬¼├óÔé¼┼ôof the increase in permits came in applications to build multifamily units. While the comparisons are favorable, the June 2008 activity came in the midst of a steady decline in residential construction.

GMH Mortgage Services, a nationally recognized mortgage banker based in Newtown Square, Pennsylvania, welcomed John Minigiello as the company's new regional sales manager and assistant VP for the New England market.