Technology
Technology
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If you're looking for the next megabank to exit the mortgage sector the most likely candidate would be Ally Financial, the government owned bank holding company that controls No. 5 ranked servicer GMAC Mortgage/Residential Capital Corp.
March 30 -
There were more cures than new notices of default in February for the nation's private mortgage insurers, continuing a trend of recent years, according to data compiled from members of the Mortgage Insurance Cos. of America.
March 30 -
A key piece of case law supporting defaulted borrowers' fight against Mortgage Electronic Registration Systems Inc. was vacated Wednesday, after a federal judge ruled that a New York-based bankruptcy judge overstepped his authority when he issued a scathing opinion of the private loan registry.
March 30 -
The aggregate value of loans collateralized by commercial MBS increased 50 basis points in February from the month prior, continuing an upward trend, said DebtX, a Boston-based loan sales advisor.
March 29 -
The average interest rate for a 30-year fixed rate loan fell to 3.99% for the week ending March 29, compared to 4.08% the week prior, according to new figures compiled by Freddie Mac.
March 29 -
Lenders are increasingly providing borrowers with online tools to complete loan applications. As this innovation takes off, lenders are adapting their businesses to evolve the role of the loan officer, while POS and LOS vendors are engaged in a showdown for the online channel.
March 29 -
Software commoditization via SaaS has drastically lowered costs for small and midsize lenders and the flexibility of transaction-based pricing is driving many technology decisions in the mortgage industry.
March 29 -
Residential servicers completed 65,000 foreclosures in February, an 8% decline from the prior month and just about flat from the same period a year ago, according to new figures compiled by CoreLogic, Santa Ana, Calif.
March 29 -
Bank servicers initiated more trial modification plans, and initiated fewer foreclosure actions in the fourth quarter than the previous one, according to a new report from the Comptroller of the Currency.
March 28 -
Among the next steps in the National Reverse Mortgage Lenders Association's Borrow With Confidence efforts will be a story-telling campaign, with seniors describing their experience with and benefits from the product, officials from the group said at its Eastern regional meeting in New York.
March 28 -
Although rates have been trending downward this week, new mortgage applications fell by almost 3% for the week ending March 23, according to new figures compiled by the Mortgage Bankers Association.
March 28 -
Community banks and thrifts are slowly increasing their originations of non-conforming mortgages, while pulling back on making FHA loans, according to a new study from the American Bankers Association.
March 28 -
Standard & Poor's said Tuesday that home prices fell in January for the fifth consecutive month, reaching a new low for the housing bust.
March 27 -
While facing continued pressure from its largest investor for a management shakeup, CoreLogic expects to benefit from continued mortgage refinancing activity, internal cost cutting and the introduction of new products.
March 27 -
Freddie Mac purchased $37.6 billion of residential loans from its seller/servicers in February, a 10% increase from the prior month, and a sign perhaps that Bank of America's recent decision to quit Fannie Mae is helping Freddie.
March 27 -
For smaller companies, social media is a marketing equalizer versus larger competition. The question has been are they taking advantage of it and the follow up is if they are, are they doing it effectively?
March 27 -
Contracts to purchase previously owned homes eased by half a point in February on a sequential basis, but rose 9% compared to the same month last year, according to new figures released by the National Association of Realtors.
March 26 -
Who says a consumer with a low FICO score can't get a mortgage? A recent survey conducted by National Mortgage News found five lenders that are willing to extend credit to borrowers with FICOs of 600 or less. The three lenders with the lowest FICO scores include TD Banknorth Mortgage, Embrace Home Loans, and Compass Bank.
March 26 -
If you're looking for the missing piece to the mortgage "deconsolidation" equation, its name is Wells Fargo. Never before in the annals of residential finance has one company amassed such an enormous market share in lending (27%) and servicing (20%).
March 23 -
Jim Blatt, CEO of St. Louis-based marketing technology provider Mortgage Returns, discusses the efficiency and compliance gains of customer relationship management technology.
March 23





