Planet Home Lending, LLC, a national mortgage lender and servicer, has opened a branch office in Rancho Cucamonga, California. Led by Branch Manager Troy Hazelip (NMLS# 252037), the new office will assist homeowners and buyers in the San Bernadino area.
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For the 13th year in a row PROGRESS in Lending will be bringing you our ENGAGE Event. This year the Event will feature a 2-part Keynote address from Teraverde and 5 industry panels moderated by the PROGRESS in Lending Executive Team. This digital event will go for 5 days starting on Monday, and be distributed through our Lending Insider eNewsletter, our website, LinkedIn and Youtube, so get ready to see a group of industry thought leaders assemble to give you the insight you need to succeed in this mortgage market.
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Veros Real Estate Solutions (Veros) released its 2023 Q3 VeroFORECAST that anticipates that home prices are expected to increase on average 2.2% over the next 12 months, compared to last quarter’s forecast of 1.7% increase, indicative of a steady market.
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BlackFin Group, a management consulting firm serving the Banking and Mortgage Industries, has added PrudentAI to their Preferred Partner Program.
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The Market Composite Index, a measure of mortgage loan application volume, decreased 6.0 percent on a seasonally adjusted basis from one week earlier.
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Veteran mortgage lending executive John Cady has been named the new President of Citywide Home Loans, a rapidly growing national lender.
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LoanPASS is now a preferred partner with The Mortgage Collaborative (TMC), the nation’s largest independent cooperative network serving the mortgage industry. TMC is dedicated to providing its members with market-leading technology and expert resources to better manage the rapidly evolving customer demands and pace of technology innovation in today’s mortgage banking market.
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Xactus, a verification provider for the mortgage industry, reported that Appraisal FirewallX has met the requirements and is capable of fulfilling Fannie Mae property data collection orders. It is connecting mortgage lenders with vetted and trained property data collectors to deliver the value acceptance + property data and hybrid appraisal solutions. The company also supports Freddie Mac’s ACE + PDR initiative.
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Tavant, a Silicon Valley-based provider of digital lending technologies, and Acra Lending, a private mortgage lender, have integrated Acra Lending’s digital mortgage experience with Touchless Lending Collateral Analysis. This partnership marks a significant milestone in Tavant’s expansion into Non-QM Lending and an advancement in Acra’s mission to transform their business into one that is technology-first.
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Homebuyer affordability declined in August with the national median payment applied for by purchase applicants increasing to $2,170 from 2,162 in July. This is according to the Mortgage Bankers Association’s (MBA) Purchase Applications Payment Index (PAPI), which measures how new monthly mortgage payments vary across time – relative to income – using data from MBA’s Weekly Applications Survey (WAS).
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