The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for October 2023 shows mortgage applications for new home purchases increased 39.7 percent compared from a year ago.
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DocMagic, Inc., a provider of compliant loan document generation, automated regulatory compliance, and comprehensive eMortgage services, has partnered with Vesta, a new mortgage loan origination system (LOS) and software-as-a-service (SaaS) company, to provide shared clients with automated document generation and automated regulatory compliance during the mortgage origination and closing process.
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CBC Mortgage Agency (CBCMA), a federally chartered housing finance agency, is reducing its interest rate on repayable second mortgages used for its down payment assistance (DPA) program.
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Stavvy, the fintech company reshaping digital and remote collaboration for lending and real estate companies, announced the acquisition of SigniaDocuments, a technology suite from Evolve Mortgage Services. The asset acquisition covers SigniaDocuments’ SMART Doc® technology, eClosing tools, including eSign and electronic notary capabilities, industry-tested eNote and eVault services, as well as eRegistry capabilities for agency and non-agency loans.
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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.
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Due to increasing market interest in alternative and enhanced property valuation solutions, Valligent, a Veros Software company, has announced the availability of ValPROTECT Warranty (ValPROTECT), a solution that offers recovery of permitted losses in the event a Valligent property valuation is subsequently determined to have been inaccurate. ValPROTECT Warranty aims to provide lenders and investors with peace of mind knowing the valuation determination at time of origination is protected.
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The fourth 2023 quarterly installment of WFG’s ”Quarterly Economic Outlook,” an informative and influential webinar featuring Williston Financial Group (WFG) Chairman and Founder Patrick F. Stone and Economist and Forbes contributor Bill Conerly, Ph.D., will take place on Tuesday, December 5th at 2 pm ET/1 pm CT/11 am PT.
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Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a pre-tax net loss of $1,015 on each loan they originated in the third quarter of 2023, an increase from the reported loss of $534 per loan in the second quarter of 2023, according to the Mortgage Bankers Association’s (MBA) newly released Quarterly Mortgage Bankers Performance Report.
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LodeStar, a national provider of closing fee-related compliance tools for mortgage lenders, has integrated with nCino’s (NASDAQ: NCNO) mortgage suite for loan officers, borrowers, real estate agents and settlement agents. LodeStar is the first independent closing fee technology to be incorporated into the nCino Mortgage Suite’s dual automated underwriting systems (AUS) feature, which helps mortgage originators select best-fit products for borrowers by simultaneously submitting loan application data to Fannie Mae and Freddie Mac’s respective underwriting engines.
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The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 3.62 percent of all loans outstanding at the end of the third quarter of 2023, according to the Mortgage Bankers Association’s (MBA) National Delinquency Survey.
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