PROGRESS In Lending – Page 54 – PROGRESS in Lending

The Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance decreased by 2 basis points from 0.31% of servicers’ portfolio volume in the prior month to 0.29% as of October 31, 2023. According to MBA’s estimate, 145,000 homeowners are in forbearance plans. Mortgage servicers have provided forbearance to approximately 8 million borrowers since March 2020.

In The News Partnership

Title Services Corporation Partners With CaseMax

November 19, 2023 PROGRESS In Lending

CaseMax has partnered with Title Services Corporation (TSC), an Iowa-based title product company. Though the CaseMax platform presently offers a title integration, a law firm having done business with Title Services in the past, preferred Title Services’ offerings to the available automation.

In The News Research

October New Home Purchase Mortgage Applications Increased 39.7 Percent

November 19, 2023 PROGRESS In Lending

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.

In The News Integration

DocMagic And Vesta Integrate To Digitize The Origination And Closing Processes

November 17, 2023 PROGRESS In Lending

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.

Expansion In The News

CBC Mortgage Agency Reduces Interest Rates On Down Payment Assistance 2nd Mortgages

November 17, 2023 PROGRESS In Lending

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.

Acquisition In The News

Big eMortgage Acquisition Announced To Speed Up Industry Innovation

November 15, 2023 PROGRESS In Lending

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.

In The News Research

Mortgage Credit Availability Increased In October

November 15, 2023 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.

AVM Advances In The News

Valligent Launches ValPROTECT Warranty For Property Valuations

November 15, 2023 PROGRESS In Lending

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.

In The News Research

WFG To Deliver The 4th Quarter Economic Outlook

November 15, 2023 PROGRESS In Lending

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.

In The News Research

IMBs Report Net Production Losses In Q3 2023

November 14, 2023 PROGRESS In Lending

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.