In The News

Experian is now an authorized report supplier of income and employment verification through Fannie Mae’s Desktop Underwriter (DU) validation service. This achievement makes Experian one of only a handful of verified income and employment report providers to support Day 1 Certainty from Fannie Mae, which provides freedom from representations and warranties on validated loan components, including borrower income and employment status.

ATTOM released its May 2022 U.S. Foreclosure Market Report, which shows there were a total of 30,881 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — up 1 percent from a month ago but up 185 percent from a year ago.

Mortgage Capital Trading (MCT), a mortgage hedge advisory and secondary marketing software firm, has launched a new technology for mortgage servicing rights (MSR) buyers to produce more granular pricing for mortgage servicing. The feature leverages an application programming interface (API) to connect MSRlive!, MCT’s state-of-the-art MSR valuation platform to clients’ systems for more precise and accurate loan-level pricing in real time. 

The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for May 2022 shows mortgage applications for new home purchases decreased 5 percent compared to a year ago. Compared to April 2022, applications decreased by 4 percent. This change does not include any adjustment for typical seasonal patterns.

Xactus, a verification provider for the mortgage industry, has named Michael Crockett to the newly created role of Chief Data Officer.

OptifiNow has deployed their custom CRM platform for Reverse Mortgage Lending, a reverse mortgage originator based in San Diego, California. Reverse Mortgage Lending selected OptifiNow as their CRM platform to efficiently manage their marketing campaigns and track loans in process more effectively.

Mortgage applications increased 6.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending June 10, 2022. Last week’s results are compared to the prior week, which included an adjustment for the Memorial Day holiday.

OpenClose, a fintech provider of mortgage software solutions for banks, credit unions and mortgage lenders, has integrated its LenderAssist loan origination system (LOS) with the DataVerify DRIVE platform to seamlessly validate borrower provided data.

WFG National Title Insurance Company, a division of Portland-based Williston Financial Group (WFG), and a full-service provider of title insurance and real estate settlement services for commercial and residential transactions nationwide, has expanded its agency footprint to include four additional western states — Colorado, Utah, Montana and Wyoming – with the formation of the company’s new Rocky Mountain Region. 

Mortgage applications decreased 2.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 27, 2022.