Author: PROGRESS In Lending

The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for May 2023 shows mortgage applications for new home purchases increased 16.6 percent compared from a year ago. Compared to April 2023, applications increased by 8 percent. This change does not include any adjustment for typical seasonal patterns.

Exceleras, a provider of software solutions that drive the right actions at the right time to accelerate property disposition, has announced that the Bluehammer home improvement estimator has now been fully integrated into the company’s Agent Listing Experience or ALEX platform. Bluehammer is a product of Bluebook International, Inc., (Bluebook), a provider of repair cost estimating data and software to the real estate and contractor industries.

SimpleNexus (https://simplenexus.com/), an nCino (NASDAQ: NCNO) company and developer of a U.S. homeownership platform for loan officers, borrowers, real estate agents and settlement agents, launched a new integration with Empower, Black Knight’s loan origination system (LOS). The bidirectional integration, available to financial institutions including independent mortgage banks nationwide, dynamically shares loan application data, milestone updates and documents in real time.

Veros Real Estate Solutions (Veros), a provider of enterprise risk management and collateral valuation services, released new research that examined the potential for bias in home valuations generated by their VeroVALUE Automated Valuation Model (AVM) when analyzed across boundaries in historical redlining maps.

Path Software, a modern and flexible mortgage loan origination system, is now integrated with Insellerate, a provider of modern CRM and marketing automation solutions to the mortgage lending and real estate industries.

Planet Management Group, a private client asset management and advisory firm, is teaming up with The Farmlink Project to help Foodlink, a Rochester-based nonprofit leveraging the power of food to end hunger and build healthier communities.

Mortgage applications increased 7.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending June 9, 2023. 

Kriss Law/Atlantic Closing & Escrow (“KL/ACE”), a national, attorney-driven settlement services firm, has appointed industry veteran Andrew Bramhall to serve in the role of SVP, National Commercial Underwriting Counsel. He will be asked to help grow the company’s established Commercial Services Division as well as supporting clients and facilitating complex transactions.

Black Knight, Inc. released its latest Originations Market Monitor report, looking at mortgage origination data through May 2023 month-end. Leveraging daily rate lock data from the Black Knight Optimal Blue PPE, the Originations Market Monitor provides the industry’s earliest and most comprehensive view of origination activity. Here’s what the report showed:

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