Interfirst Mortgage Company (Interfirst), a private equity-backed mortgage originator, announced that Tony Santangelo has joined the Company as Vice President, Regional Wholesale Production for the East Coast.
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WFG National Title Insurance Company, a Portland-based, full-service provider of title insurance and real estate settlement services for commercial and residential transactions nationwide, will host its fourth quarter 2021 “Economic Outlook & Title Insurance” webinar on Thursday, October 21, beginning at 7 am PT / 10 am ET.
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Gateway First Bank has announced that Bryan Self has joined the Bank’s executive management team as its Chief Information Officer. In this role, Self will be responsible for overseeing all of Gateway’s technologies and processes to ensure a positive customer experience, whether internal or external. Self’s arrival is especially timely with the impending implementation of several new technologies including Empower, a new mortgage loan origination system, and Q2, an end-to-end banking experience platform.
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The Mortgage Bankers Association’s (MBA) latest Forbearance and Call Volume Survey revealed that the total number of loans now in forbearance decreased by 4 basis points from 3.00% of servicers’ portfolio volume in the prior week to 2.96% as of September 19, 2021. According to MBA’s estimate, 1.5 million homeowners are in forbearance plans.
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The Data & Analytics division of Black Knight, Inc. (NYSE:BKI) released its latest Mortgage Monitor Report, based upon the company’s industry-leading mortgage, real estate and public records datasets. Given Black Knight’s recent analysis of the strong equity positions of borrowers in forbearance, even when adding 18 months of deferred payments to their debt loads, this month’s report explores the relationship between such equity positions and downstream foreclosure start rates and – ultimately – distressed liquidations. According to Black Knight Data & Analytics President Ben Graboske, the data suggests that the healthy stores of equity in the hands of homeowners currently in forbearance may not be sufficient on its own to ward off foreclosure activity.
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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 published a new whitepaper that explores the title agent-underwriter relationship in great detail. The paper, “Creating a True Partnership Between Title Agencies and Underwriters,” is available as a free download on the WFG Blocks website.
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Equifax has partnered with the National Association of Minority Mortgage Brokers of America (NAMMBA) to help support its efforts to assist underserved communities and their housing needs. This relationship aligns directly with the ongoing Equifax commitment to advance financial inclusion and help all consumers access and better understand their credit profiles.
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Mortgage Industry Trends – For the last 2 years, the mortgage origination landscape has resembled a tea kettle on constant boil whistling at a relentless decibel level. Marked by explosive borrower demand due to historically low interest rates, lender consolidation with smaller branch originators acquired, and Covid based virtual lending becoming the norm, today’s lenders must navigate through a “Perfect Storm” of challenges that require a renewed commitment to investments in modern digital lending capabilities.
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Plaza Home Mortgage, Inc., a wholesale and correspondent mortgage lender, announced that it is re-activating its Solutions Non-QM program, offering loan amounts up to $3.5 million.
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Mortgage applications decreased 1.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending September 24, 2021.
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The level of commercial/multifamily mortgage debt outstanding increased by $60.7 billion (1.5 percent) in the second quarter of 2021, according to the Mortgage Bankers Association’s (MBA) latest Commercial/Multifamily Mortgage Debt Outstanding quarterly report.
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