Technology

Applications for mortgages to purchase new homes decreased 8% in May compared to April, according to Mortgage Bankers Association data released Friday.

A significant number of lenders are submitting the data required by Home Mortgage Disclosure Act with formatting errors, according to a new study.

Among the revelations: A large number of single-family homes built in 2013 weren't sold that year; single-family units, surprisingly, kept getting bigger; cash sales remain higher than before the recession.

Fidelity National Financial and First American Financial are pitching lenders additional technologies and services that complement their core title businesses. CoreLogic, by contrast, is diversifying its clientele beyond mortgages.

The CFPB believes that the answer to all of these problems lies in taking the paper completely out of the transaction and closing electronically.

Today, LinkedIn is the de facto standard to connect with other business executives on social media.

Mortgage rates rose for a second week, extending an increase in borrowing costs from an eight-month low.

Some regional and large community banks are retaining more mortgages for investment because better-than-average deposit growth has given them extra cash they need to deploy. However, they are selective about which mortgages they keep.

Mortgage application volume increased a week after Memorial Day behind a surge in both refinance and purchase mortgage activity.

Lenders are relaxing overlays and adjusting pricing to attract more VA business.