Author: PROGRESS In Lending

According to a set of commercial/multifamily real estate finance league tables prepared by the Mortgage Bankers Association (MBA), the following firms were the top commercial/multifamily mortgage originators in 2022:

Consumers feel 8% less confident about their financial outlook this month than they did one year ago, according to the latest WalletHub Economic Index.

WFG National Title Insurance Company (WFG), a Portland-based, full-service provider of title insurance and real estate settlement services for commercial and residential transactions nationwide, has appointed industry veteran David Jenkins as Senior Vice President, National Agency Manager and promoted Tim Hooper to Senior Vice President, Mid-Atlantic Regional Manager for the company’s Agency Operations.

Black Knight, Inc. (NYSE:BKI) has released its latest Originations Market Monitor report, looking at mortgage origination data through March 2023 month-end. Leveraging daily rate lock data from the Black Knight Optimal Blue PPE. Here’s what the report concluded:

Mortgage Capital Trading, Inc. (MCT) has released its March MCTlive! Lock Volume Indices, which show that after a downward trend in February, lock volume increased across the board for the month. Purchase lock activity was up 23% compared to February, rate/term refinance volume was up 39%, and cash-out refinance volume was up 28%. Lock activity in total was up 24% versus February. The fall of Silicon Valley Bank and the expectation of the fed to ease rate hikes resulted in a modest drop in mortgage rates in March. As the fed reaches for its terminal fed funds rate and we begin moving into the spring, we should see the affect on purchase activity.

Tavant, a provider of AI-powered digital lending solutions for the consumer lending industry, expanded functionality within its Touchless Lending platform through a new partnership with PropMix, a fast-growing real estate valuation, decision support, and automation platform.

One in five U.S. adults – more than 60 million consumers – are either outside the credit ecosystem or lack sufficient credit data to be scored by traditional risk models, leaving many underserved. To better support marginalized consumer segments, TransUnion (NYSE: TRU) brought together senior leaders in the financial services and insurance industries at its inaugural Financial Inclusion Forum.

Independent mortgage banks and mortgage subsidiaries of chartered banks lost an average of $301 on each loan they originated in 2022, down from an average profit of $2,339 per loan in 2021. This is according to the Mortgage Bankers Association’s (MBA) Annual Mortgage Bankers Performance Report.

Veros Real Estate Solutions, a provider of enterprise risk management and collateral valuation services, released its 2023 Q1 VeroFORECAST that anticipates home prices will be flat overall for the next twelve months. This is a slight improvement from the 0.5% annual depreciation forecast just one quarter ago. VeroFORECAST evaluates home prices in over 300 of the nation’s largest housing markets. Veros is committed to the data science of predicting home value based on rigorous analysis of the fundamentals and interrelationships of numerous economic, housing, and geographic variables pertaining to home value.

Cornerstone Servicing, a division of Cornerstone Capital Bank, SSB, and a provider of mortgage servicing solutions, has launched a subservicing business designed to empower homebuyers to be smart homeowners for life and fuel sustainable growth for lenders and investors of all shapes and sizes.