Originations

Mortgage lenders continue prioritizing technology efforts over all else in hopes of tackling a slew of market hurdles and threats, according to Fannie Mae.

Former Lend America executive Michael Ashley was sentenced to three years in prison for his actions that led to the implosion of the once-high-flying Melville, N.Y.-based mortgage lender.

Quicken Loans Inc.'s biggest quarter to date means more jobs in Detroit.

The second quarter continues to shape up as a good one for bank mortgage lenders — and one ancillary service provider — that are benefiting from a spike in volume.

Higher interest rates led to a 1.1% seasonally adjusted decline in mortgage applications compared with the previous week, according to the Mortgage Bankers Association.

Wells Fargo and JPMorgan Chase recorded stronger mortgage originations in the second quarter as rates fell, but profits from single-family loans were lower than a year ago due to decreased servicing revenue.

Despite a significant rise in first-mortgage production due to lower interest rates, profits from home lending in Citigroup's retail banking division fell slightly in the second quarter.

After two strong months, applications to purchase newly constructed homes retrenched a bit as broader policy issues weighed on consumers, according to the Mortgage Bankers Association.

A new wave of mortgage production technologies empower lenders to create a more personalized approach to serving borrowers compared with the ubiquitous loan origination systems created over 10 years ago.

Savings related to artificial intelligence could add up to a couple million dollars within 12 months for lenders with sufficient scale, according to an independent researcher hired by Black Knight.

Mortgage industry hiring and new job appointments for the week ending July 12.

While mortgage rates remained unchanged this past week, further drops are possible as signs from the Federal Reserve point to a short-term rate cut at its next meeting.

A decline in refinancings led to a drop in mortgage application volume last week, even though purchase activity continues to rise, according to the Mortgage Bankers Association.

Lenders who employ a technology stack that tracks, collects and analyzes homebuyer behavior will have a distinct advantage as application volume rises.

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

Mortgage application activity was virtually flat from one week earlier, down just 0.1%, although there was a huge gain in Federal Housing Administration refinance volume, according to the Mortgage Bankers Association.

Mortgage industry hiring and new job appointments for the week ending June 28.

Making low-balance loans with poor economies of scale is tough in a market with slim margins, but it could have its rewards.

The refinance share of mortgage applications climbed to the highest level since January 2018 as the average 30-year fixed interest rate continued tumbling, according to the Mortgage Bankers Association.

LoanDepot will accelerate hiring initiatives in the third and fourth quarter as it plans to add 1,400 new jobs by the end of 2019. The company credits its technology efforts for the growth opportunities.