All Welcome The Fed’s Rate Cut
Industry participants from all sectors are hailing The Fed’s decision to finally cut rates as a positive. Many say this will help the mortgage industry rebound.
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Author: PROGRESS In Lending
August New Home Purchase Mortgage Applications Increased 4.4 Percent
The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for August 2024 shows mortgage applications for new home purchases increased 4.4 percent compared from a year ago. Compared to July 2024, applications decreased by 0 percent. This change does not include any adjustment for typical seasonal patterns.
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JV Will Support The Expansion Of A&D’s $7 Billion Mortgage Securitization Platform
Atlas Merchant Capital LLC (“Atlas”), a global alternative investment firm based in New York and London, A&D Mortgage, LLC (“A&D”), a nationwide wholesale lender, and Imperial Fund Asset Management (“Imperial”), a residential mortgage investment manager and a capital markets advisor, announced a joint venture partnership (“JV”) between A&D Mortgage and Atlas Merchant Capital that will support the expansion of A&D’s $7 billion mortgage securitization platform.
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Mortgage Applications Increased 14.2 Percent From One Week Earlier
Mortgage applications increased 14.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending September 13, 2024. Last week’s results included an adjustment for the Labor Day holiday.
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Middleton Advisory Group Partners With RBI
Redefining Business Intelligence (RBI), a data science company that uses AI and experienced business analysts to pull actionable insights from very large data sets, announced a new partnership with Middleton Advisory Group, LLC (MAG) that will see the consultancy use RBI Playbooks to enhance the results its advisors deliver clients. Middleton is the first mortgage industry consultancy to embrace the concept of engaging an outsourced data science department.
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ServiceLink’s Antonio Little Promoted To VP, Two National Sales Executives Hired
ServiceLink has promoted Antonio Little to vice president, national sales manager in the origination division, where he will oversee account executives across the country.
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Commercial Mortgage Delinquency Rates Increased In The Second Quarter Of 2024
Commercial mortgage delinquencies increased in the second quarter of 2024, according to the Mortgage Bankers Association’s (MBA) latest Commercial Delinquency Report.
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MBA Agrees With Fed Vice Chair Barr On Re-Proposing Basel III Endgame
MBA’s President and CEO, Bob Broeksmit, CMB, issued the following statement following Federal Reserve Vice Chair Michael Barr’s speech outlining recommendations to re-propose the Basel III Endgame proposal:
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Foreclosure Starts Decrease 5.1 Percent From Last Month
ATTOM released its August 2024 U.S. Foreclosure Market Report, which shows there were a total of 30,227 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — down 5.3 percent from a month ago and down 11 percent from a year ago.
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Panorama Mortgage Group Appoints Hector Amendola As New President
Panorama Mortgage Group (PMG), a multi-brand national mortgage company headquartered in Nevada, has announced that Hector Amendola, CMB, has been appointed President, effective immediately.
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