In The News – PROGRESS in Lending

The Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance decreased by 3 basis points from 0.50% of servicers’ portfolio volume in the prior month to 0.47% as of December 31, 2024. According to MBA’s estimate, 235,000 homeowners are in forbearance plans. Mortgage servicers have provided forbearance to approximately 8.5 million borrowers since March 2020.

Execs On The Move In The News

MBA Promotes Megan Booth To Vice President Of Commercial/Multifamily Policy

January 21, 2025 PROGRESS In Lending

The Mortgage Bankers Association (MBA) promoted Megan Booth to Vice President of Commercial/Multifamily Policy. In her new role, Booth will manage the development and execution of MBA members’ policy objectives and goals and will serve as a staff lead on federal and state regulatory issues pertaining to commercial real estate finance.

Affordability In The News

LenderLogix Q4 2024 Homebuyer Intelligence Report Data Indicates Possible Improvement In Affordability

January 20, 2025 PROGRESS In Lending

LenderLogix released the Homebuyer Intelligence Report, a quarterly summary of insights into borrower behavior during the home-buying process based on data collected by the LenderLogix suite of tools. The latest report covers data collected during the pre-approval and borrower application process in the fourth quarter (Q4) of 2024. Here’s what the report concluded:

Applications In The News

December New Home Purchase Mortgage Applications Increased 8.9 Percent

January 20, 2025 PROGRESS In Lending

The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for December 2024 shows mortgage applications for new home purchases increased 8.9 percent compared from a year ago. Compared to November 2024, applications decreased by 3 percent. This change does not include any adjustment for typical seasonal patterns.

Home Prices In The News

New Research Shows That Home Appraisals Were Higher Than Sale Prices 57% Of The Time

January 16, 2025 PROGRESS In Lending

Corporate Settlement Solutions (CSS), a full-suite provider of commercial and residential real estate settlement solutions, released results from its half-year Appraisal Price-Gap Analysis which provides the percent of homes that appraised over or under the sale price or appraised at the sale price (within $2,500.00).

Execs On The Move In The News

Industry Veteran Matt Payan Joins Planet Home Lending As SVP, Distributed Retail

January 16, 2025 PROGRESS In Lending

Planet Home Lending has hired Matt Payan as Senior Vice President, Distributed Retail Sales. Payan brings more than two decades of experience in retail mortgage sales leadership, branch operations, and driving high-performing sales teams, leveraging his strong 30-year finance background to increase profitability.

AI In The News

BlackFin Launches AI Professional Services Support

January 16, 2025 PROGRESS In Lending

BlackFin, a management consulting firm serving the Banking and Mortgage Industries, announced that its Professional Services team is now assisting mortgage teams at banks, credit unions, and independent mortgage bankers with the implementation of mortgage centric Artificial Intelligence (AI) tools.

Execs On The Move In The News

ServiceLink Continues Building Its National Sales Team With Two New Hires

January 16, 2025 PROGRESS In Lending

ServiceLink has added Adam McClure and Harold Sims as national account executives. In this new role the two will be tasked with forging new lender partnerships for ServiceLink’s origination division, focusing on helping lenders increase speed throughout the mortgage process, extend their digital workflow, reduce costs and enhance the consumer experience.

Borrower Outreach In The News

Arrive Home Partners With FormFree To Help Borrowers With Limited Credit History

January 15, 2025 PROGRESS In Lending

National affordable housing innovator Arrive Home has partnered with FormFree, a provider of financial technology since 2007, to offer lender partners an alternative method to effectively measure a borrower’s credit risk and ability to pay. The partnership will expand homeownership opportunities for borrowers with limited credit history.

Expansion In The News

ACES Increases Financial Services QC Audit Volume By 15% In 2024, Expands New Client Acquisition By 66%

January 15, 2025 PROGRESS In Lending

ACES Quality Management (ACES), a provider of enterprise quality management and control software for the financial services industry, has sought to support its customers through turbulent market conditions by providing critical technology innovations to its quality control audit suite. The critical enhancements ACES made throughout the year helped support a 15% year-over-year increase in quality control audits conducted across its customer base and achieved 66% growth in new client acquisition.

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