Technology

A reading on pending home sales fell in August but activity remains robust.

Since Wells Fargo threw in the towel on wholesale this summer, rumors have surfaced that the megabank might also quit or curtail its correspondent purchases.

Sales of new single-family homes declined 0.3% in August from the month prior to a seasonally adjusted annual rate of 373,000 units, even though mortgage rates fell to new lows.

Residential loan applications rose almost 3% on a sequential basis for the week ending September 21 with mortgage rates of all types once again reaching new lows.

Ellie Mae has upped the capabilities of its Encompass360 software with the SmartGFE 2.0 service from ClosingCorp.

Risk management technology and services providers believe data accrual and analytics can help lenders get a heads-up before a mortgage boom turns into a mountain of bad loans.

Home prices increased 1.2% in July, compared to the same month last year, but tight mortgage underwriting standards continue to be a main concern.

According to Lender Processing Services, there are over 3.4 million properties 30 or more days past due but not in foreclosure.

Mortgage bankers originated roughly $44.2 billion of jumbo loans in the second quarter, a handsome 82% increase from the same period a year ago.

Ellie Mae COO Jonathan Corr discusses his outlook for mortgage loan origination system vendors.