Residential mortgage applications fell almost 2% for the week ending August 3, according to new figures compiled by the Mortgage Bankers Association. The comparison is to the week prior.

PHH Corp., the parent company of the nation’s largest nonbank mortgage lender, lost $57 million in the second quarter and signaled its intention to reduce its presence in the correspondent lending channel where it ranks seventh nationwide.

Refinancings of Fannie Mae and Freddie Mac loans with LTV ratios above 125% surged in June as lenders were able to securitize and sell these severely underwater loans for the first time.

Controversy about what method leads to higher real estate valuation accuracy and realistic pricing is keeping up competition between vendors striving to custom fit their tools to the changing needs of their lender and servicer clients.

The CoreLogic house price index rose for the fourth consecutive month in June and the vendor’s chief executive expects prices will remain positive during the second-half of this year.

The web portal will provide homeowners with information that helps them make knowledgeable decisions about what foreclosure alternative options are available to pursue.

Technology at home is about wants, while technology at work should be about needs—business needs.

Technology can provide a do-it-yourself origination process. But are borrowers ready?

The government controlled Freddie Mac posted solid earnings of $1.1 billion in the second quarter – after paying the U.S. Treasury Department $1.8 billion in dividends on the preferred stock it owns.

Appraisers may have started to change their business practices one at a time probably only a few years ago, but their strategy shift and where they are headed already has started to become clear.

Community Trust Bank had $385 million in outstanding warehouse commitments at June 30, almost double what it had a year ago.

The Federal Housing Administration reported Monday that applications for streamline refinancings of existing FHA borrowers jumped 400% in June from the month prior. In total, 84,600 new applications came in.

Chip Mahan, the founder of the first online bank, Security First Network Bank, and current CEO of Live Oak Banking Company in Wilmington, N.C., has helped launch a cloud-based technology company called nCino that has already signed up Live Oak and five other banks.

The average cost to close a residential loan in the U.S. dropped 7% over the past year to $3,754, according to Bankrate.com’s eighth annual closing costs survey.

Mortgage bankers hired 7,800 full-time employees in June after adding 2,200 in May as managers tried to beef up capacity with their shops being swamped by a tidal wave of refinancings caused by record low interest rates.

In an exclusive interview with Mortgage Technology, Davis Henderson President and CEO Gerrard Schmid explains how the Canadian tech developer plans to combine Mortgagebot’s POS and Avista’s LOS technology.

Lenders that shift to a retained servicing model must make significant modifications to their technology and processes.

CitiMortgage will be the second correspondent mortgage investor to use a technology and services offering from Ellie Mae that provides tamper-proof versions of borrower verification data on loans sold by correspondent lenders.

Over the past year Ocwen has agreed to purchase large MSR portfolios from JPMorgan Chase, Litton Loan Servicing and Saxon Mortgage.

Streamline refinancing applications have more than doubled since the Federal Housing Administration opened a special program on June 11 for existing FHA borrowers who had not refinanced since May 2009.