Author: PROGRESS In Lending

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

LenderLogix, a provider of mortgage automation software and application programming interfaces (APIs), noted that its streamlined point-of-sale (POS) LiteSpeed now offers a Spanish version of the residential loan application to support communication with Spanish-speaking borrowers in their native language.

ComplianceEase’s TRID Monitor is now integrated with the Mortgage Cadence Platform (MCP), the cloud-based digital lending platform from Mortgage Cadence. The integration helps mortgage lenders monitor loans for TRID errors and correct them before they cause costly delays.

Citadel Servicing Corporation d/b/a Acra Lending has chosen LoanPASS as its pricing and loan decisioning engine for its lending products.  LoanPASS is a provider of loan pricing and decisioning technologies for all lending products including non-QM, residential and commercial loans.  The LoanPASS rules engine is modernizing the PPE industry by utilizing major advancements in technology to provide lenders and their customers with unrivaled functionality and control. 

In the first quarter of 2023, Planet Financial Group, LLC, parent of national mortgage lender and servicer Planet Home Lending, LLC and Planet Management Group, LLC, reported its highest monthly lock volume in company history. The company also saw continued growth in its owned MSR (Mortgage Servicing Rights) portfolio and assets under management. Planet Home Lending’s total servicing portfolio ended the quarter at $77.03 billion, up 5% from the year-end 2022, while its total origination volume reached $6.54 billion for Q1 2023, holding steady compared to Q4 2022. 

Mortgage applications decreased 1.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 28, 2023. 

Mortgage Cadence, an Accenture (NYSE: ACN) company, has released version 3.0 of its Mortgage Cadence Platform (MCP) Loan Origination System (LOS). The company launched MCP in 2021, and with the release of 2.0 last summer, officially retired its legacy enterprise lending platform and migrated all existing enterprise customers to the new platform. With the release of 3.0, Mortgage Cadence is solidifying its stance in the evolution of the industry’s leading modern loan origination technology. 

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

MBA Education, the education division of the Mortgage Bankers Association (MBA), announced the creation of the Residential Educator of the Year Award, an annual company-level award that will be presented for the first time at MBA’s 2023 Annual Convention and Expo, October 15 – 18 in Philadelphia.