Author: PROGRESS In Lending

Valligent, a Veros Software company, and innovative real estate valuation company, has launched a GSE Data Collection Suite that supports both Fannie Mae’s value acceptance + property data and Freddie Mac’s ACE+ PDR (automated collateral evaluation plus property data report) solutions.

At the mid-point of 2023, Gen Z consumers (born between 1995 and 2005) increasingly find themselves with new access to credit products. The newly released Q2 2023 Quarterly Credit Industry Insights Report (CIIR) from TransUnion (NYSE: TRU) shows that relative to the consumer population as a whole, Gen Z consumers continue to turn to bankcards and unsecured personal loans even as lenders have begun to tighten underwriting.

InspectHOA, a provider of HOA documents acquisition and modernized settlement processes for the real estate industry, has introduced its mortgage payoffs solution.

Mortgage applications decreased 3.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 4, 2023. 

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

Mortgage Capital Trading, Inc. (MCT), a mortgage hedge advisory and secondary marketing software firm, reported a relatively flat .44% increase in mortgage lock volume over the prior month.

MISMO, the real estate finance industry’s standards organization, is seeking public comments on the latest version of the MISMO Life of Loan Process Model, and an updated version of the MISMO Business Glossary. The 30-day public comment period runs through Tuesday, September 5, 2023.

Mobility Market Intelligence (MMI), a provider of data intelligence and market insight tools for the mortgage and real estate industries, has acquired relationship management and mortgage marketing platform provider Bonzo. The Bonzo leadership team, including founder and president Jason Perkins, founder and COO/CRO Miles Miller, and CEO Chad Jampedro, will continue to guide the company as it operates as an independent service. However, current and future MMI and Bonzo customers will soon begin to benefit from a growing list of the two technology platforms’ integrated services and features.

Xactus, a verification provider for the mortgage industry, will launch the next generation of its proprietary technology platform, Xactus360, further modernizing the mortgage process for lenders.

Total commercial and multifamily mortgage borrowing and lending is expected to fall to $504 billion this year, which is a 38 percent decline from 2022’s total of $816 billion. This is according to an updated baseline forecast released today by the Mortgage Bankers Association (MBA).