Originations

Mortgage industry hiring and new job appointments for the week ending July 27.

Ellie Mae saw a 20% year-over-year increase in second-quarter revenue with more loans closed using Encompass, but net income fell nearly 50% on an accounting change and acquisition costs.

As regulators move forward with policy changes designed to curb so-called refinance churning of Department of Veterans Affairs-insured mortgages, concerns have surfaced about the fate of loans originated during the transition period.

A lack of new and existing homes for sale led to a drop in purchase and overall mortgage application volume although refinances grew.

Debates on the issue often focus on how lending decisions affect certain demographic groups, but those analyses tend to ignore an important factor: default rates.

Startup LoanSnap, a company funded in part by Virgin Group founder Richard Branson, has launched artificial intelligence that matches consumers with mortgages based on a complex analysis of their financial situation.

Mortgage industry hiring and new job appointments for the week ending July 20.

As purchase mortgages continue to dominate overall industry volume, lenders aren't letting the extra work required to close these loans affect their productivity.

Mortgage banking revenue stemming from a year-to-year increase in rates weighed down noninterest income at U.S. Bancorp, but increased interest income from higher rates helped improve earnings overall.

Rising median home prices and tight housing inventory led purchase and overall mortgage application volume to fall although refinances rose.