In using mortgage keywords to get high search-engine ratings, Internet specialists like E-Loan and LendingTree continue to make a strong showing against big banks like Wells, Chase, and Citi, according to Novato, Calif.-based SEMphonic, a search engine analytics firm.For the top 50 mortgage-relevant keywords on both Yahoo and Google, SEMphonic's MarketScan tool showed E-Loan and LendingTree ranked No. 1 and No. 2, respectively. The top 10 companies were: eloan.com, lendingtree.com, bankrate.com, lowermybills.com, quickenloans.com, nextag.com, mortgage101.com, comparefreequotes.com, homestore.com, and interest.com. These top 10 companies made up 38% of all paid and unpaid mortgage keyword listings showing up on Yahoo and Google. Countrywide and Bank of America ranked No. 13 and No. 14, respectively.
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Nonbank mortgage firm Pennymac said having an in-house system gave it a leg up on implementation, while a vendor also reported progress in its systems testing.
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United Bank and Five Points Bank, both ranked among the top-performing banks by Capital Performance Group, said they have stayed in the mortgage business because they see it as a way to build strong relationships in the communities they serve.
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The servicer will pay $4.5 million in remediation to affected homeowners for incorrectly imposing force-placed insurance on thousands of borrowers.
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The trade group supports a narrow rewrite of the agency's manufactured home definition but it wants FHA valuation projections before lenders can scale.
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Pending home sales, a real-time indicator of homebuying demand, dropped 2.5% to their lowest level since December, according to Redfin's latest report.
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Mortgage production declined overall in July from activity earlier this summer amid growing rate volatility, according to two new originations reports.
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