Author: PROGRESS In Lending

The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for August 2023 shows mortgage applications for new home purchases increased 20.6 percent compared from a year ago. Compared to July 2023, applications increased by 4 percent. This change does not include any adjustment for typical seasonal patterns.

Snapdocs, a digital closing provider, has promoted Michael Sachdev from president to chief executive officer. Sachdev succeeds Snapdocs founder Aaron King, who will take on the role of executive chairman. Snapdocs is focused on solving the fragmentation in the mortgage industry—making closings faster, more cost-effective, and error-free for all parties involved. This move will position the Snapdocs leadership team to take on the next stage of growth in pursuit of this vision.

MISMO, the real estate finance industry’s standards organization, has published the updated Version 3 XML Reference Model General Information Guide. Previously known as the Version 3 General Information Guide, the new edition incorporates updates required for the Version 3.6 XML Reference Model.

Mortgage applications decreased 0.8 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending September 8, 2023. This week’s results included an adjustment for the Labor Day holiday.

CoreLogic, a property information, analytics and data-enabled solutions provider, released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for July 2023. Here’s what it showed:

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

IBT Apps, a provider of adaptable core and digital banking software, has acquired PowerLender, a Loan Origination System, previously owned by ASC Inc. This strategic move expands IBT Apps’ product portfolio and provides both their clients and the community banking sector with an in-house Loan Origination option that seamlessly integrates with their existing core and digital banking products.

Last week Intercontinental Exchange, Inc. (NYSE: ICE), a global provider of data, technology, and market infrastructure, and Black Knight, Inc. (NYSE: BKI), a software, data and analytics company that serves the housing finance continuum, including real estate data, mortgage lending and servicing, as well as the secondary markets, made public that ICE has now completed its acquisition of Black Knight.

LenderX has launched a strategic partnership with Veros Real Estate Solutions (Veros), a provider of enterprise risk management and collateral valuation services.

National Mortgage Insurance Corporation (National MI), a subsidiary of NMI Holdings, Inc. (NASDAQ: NMIH), is now integrated with Calyx Software’s Point loan origination system (LOS). The integration enables lenders and brokers to order National MI’s real-time, risk-based mortgage insurance through its Rate GPS tool instantly without having to leave the Point platform.