PROGRESS In Lending – PROGRESS in Lending

Cornerstone Home Lending, a division of Cornerstone Capital Bank—a national provider of mortgage origination and servicing solutions and commercial, institutional and consumer banking services—has promoted Jay Crowell to the newly created role of president – national retail division. Crowell will drive the strategy and continued growth of Cornerstone’s national retail and Realtor affiliate sales and operations.

Community Outreach In The News

CHLA Calls On Ginnie Mae To Allow Loan-Level Pooling

November 20, 2024 PROGRESS In Lending

The Community Lenders of America (CHLA) sent a letter to Ginnie Mae requesting that the government agency provide capabilities to allow for loan-level pooling. CHLA has become increasingly concerned that Ginnie Mae issuers cannot transfer loans within a pool to transact a full loan mortgage servicing right (MSR) sale.

Forbearance Data In The News

Share of Mortgage Loans In Forbearance Increases To 0.47% In October

November 18, 2024 PROGRESS In Lending

The Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance increased to 0.47% as of October 31, 2024. According to MBA’s estimate, 235,000 homeowners are in forbearance plans. Mortgage servicers have provided forbearance to approximately 8.4 million borrowers since March 2020.

Execs On The Move In The News

RBI Promotes Laura Lasher To CEO

November 18, 2024 PROGRESS In Lending

Redefining Business Intelligence (RBI), an AI-driven data science firm, announced that co-founder Laura Lasher has been promoted to Chief Executive Officer (CEO). Lasher is an award-winning executive with over 40 years of experience in home finance, real estate, and entrepreneurship. She is the company’s first CEO and will lead the firm in expanding its delivery of advanced AI-powered analytics.

In The News Integration

New Integration Reduces Credit & Verification Costs For Lenders

November 17, 2024 PROGRESS In Lending

Mortgage Automation Technologies (MAT), the company behind The BIG Point of Sale, has successfully integrated Informative Research via ICE Mortgage Technologies’ Partner Connect®, offering loan officers the ability to seamlessly pull credit, and verify income, assets, and employment (VOA & VOE/I) directly from their mobile devices.

In The News Profits

IMB Production Profits Increase In Third Quarter Of 2024

November 17, 2024 PROGRESS In Lending

Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a pre-tax net profit of $701 on each loan they originated in the third quarter of 2024, an increase from the reported net profit of $693 per loan in the second quarter of 2024, according to the Mortgage Bankers Association’s (MBA) newly released Quarterly Mortgage Bankers Performance Report.

Execs On The Move In The News

Rick Scherer Joins NewFed Mortgage As Chief Strategy Officer To Lead National Expansion

November 15, 2024 PROGRESS In Lending

NewFed Mortgage, an independent mortgage banking leader known for its commitment to technology-driven innovation and personalized lending solutions, is pleased to announce the appointment of Rick Scherer as Chief Strategy Officer (CSO). With over two decades of experience in the mortgage industry, Rick Scherer will play a pivotal role in guiding NewFed’s ambitious national expansion and market dominance as the company continues its growth trajectory.

credit availability In The News

Mortgage Credit Availability Increased In October

November 15, 2024 PROGRESS In Lending

Mortgage credit availability increased in October according to the Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA) that analyzes data from ICE Mortgage Technology.

Applications In The News

Mortgage Applications Increased 0.5 Percent From One Week Earlier

November 13, 2024 PROGRESS In Lending

Mortgage applications increased 0.5 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending November 8, 2024.

Business Intelligence In The News

RBI Publishes Data Science White Paper

November 13, 2024 PROGRESS In Lending

Redefining Business Intelligence (RBI), a data science company that uses AI and experienced business analysts to pull actionable insights from very large data sets, published a new White Paper entitled, “The Critical Need for Data Science in the Modern Business Enterprise.” The paper defines data science for the mortgage industry and offers options for lenders seeking more insight from the data they already own.