Originations

Hurricane Michael is putting mortgage transactions with a combined value of over $400 million in jeopardy, according to ClosingCorp estimates.

Mortgage borrowers buying new homes generated more loan applications this September than they did a year ago, even though interest rates are higher this year.

Mortgage applications fell last week as rates for the 30-year fixed conforming loan topped 5% for the first time since 2011, the Mortgage Bankers Association reported.

JPMorgan Chase is eliminating 400 positions in its mortgage banking unit, the latest lender to trim staff as a result of lower-than-expected demand in 2018.

Mortgage industry hiring and new job appointments for the week ending Oct. 5.

Mortgage application activity was relatively flat compared with the previous week, as long-term interest rates held steady following the recent Fed rate hike, according to the Mortgage Bankers Association.

Consumer demand for “ease of information and ease of interaction” is driving the digital mortgage era, says John Schleck, senior vice president at Bank of America.

LoanDepot is using scale and technology to its advantage by evaluating borrower demands through surveys and real-time assessments of customer profiles, says Chief Technology Officer Dominick Marchetti.

Bank of America is taking what consumers are accustomed to on the banking side and applying that to its lending division to offer a consistent digital experience, says John Schleck, the bank’s senior vice president.

Dominick Marchetti, chief technology officer at loanDepot, explains how the digital mortgage era is being driven by borrowers seeking a more dominant role in the process.