In The News – Page 20 – PROGRESS in Lending

Home Affordability Got Tougher In Q2

July 3, 2024 PROGRESS In Lending

ATTOM released its second-quarter 2024 U.S. Home Affordability Report showing that median-priced single-family homes and condos remained less affordable in the second quarter of 2024 compared to historical averages in 99 percent of counties around the nation with enough data to analyze. The latest trend continued a pattern, dating back to early 2022, of home ownership requiring historically large portions of wages around the country amid ongoing high residential mortgage rates and elevated home prices.

In The News Refinance Activity

STRATMOR Theorizes About What The Next Refi Boom Will Look Like

June 30, 2024 PROGRESS In Lending

In its June Insights Report, STRATMOR Group examines how lenders will fare in the next refinance boom—and why some will be more successful than others in capturing that business. In his article, “Why a Refi Wave Won’t Save Every Lender and How to Prepare,” Senior Partner Garth Graham explains why the next refi wave will be different than past refi booms and provides strategies lenders can implement now to prepare.

2024 Forecast In The News

ABA Report Concludes That Bank Economists Are More Optimistic About Business Credit, Prospect Of Soft Landing

June 30, 2024 PROGRESS In Lending

Bank economists are expressing increased optimism about the outlook for business credit and the prospect of a soft landing for the U.S. economy over the next six months, according to the American Bankers Association’s latest Credit Conditions Index.

In The News Integration

MCT Integrations Bring Better Transparency And Pricing To The Front-End

June 27, 2024 PROGRESS In Lending

Mortgage Capital Trading, Inc. (MCT) launched new integrations with Fannie Mae’s Mission Score application programming interface (API) and Mission Score 2 and 3 product grids that provide better transparency and pricing for mortgages aligned with Fannie Mae’s mission objectives.

Execs On The Move In The News

USMI Names Enact MI President And CEO Rohit Gupta As Chair Of The Board

June 27, 2024 PROGRESS In Lending

U.S. Mortgage Insurers (USMI), the association representing the nation’s leading private mortgage insurance (MI) companies, announced that Rohit Gupta will serve as the association’s new Chairman of the Board.

Execs On The Move In The News

Xactus Names Joseph Peterson As Chief Financial Officer

June 27, 2024 PROGRESS In Lending

Xactus, a verification provider for the mortgage industry, announced that Joseph Peterson has been named Chief Financial Officer.

Affordability In The News

Mortgage Application Payments Decreased 1.6 Percent To $2,219 In May

June 27, 2024 PROGRESS In Lending

Homebuyer affordability improved in May, with the national median payment applied for by purchase applicants decreasing to $2,219 from $2,256 in April.

In The News Pricing Automation

Optimal Blue Releases Competitive Data License To Help Lenders Improve Margins

June 26, 2024 PROGRESS In Lending

Optimal Blue released Competitive Data License, a collection of key national mortgage pricing data that enables lenders to price products competitively, operate more profitably, and react swiftly to changing market conditions.

In The News MISMO

MISMO Calls For Industry Professionals To Join New Artificial Intelligence Community Of Practice

June 26, 2024 PROGRESS In Lending

MISMO, the real estate finance industry’s standards organization, is inviting industry professionals to join a newly formed community of practice (CoP) focused on Artificial Intelligence (AI).

Execs On The Move In The News

MBA Education Recognizes 23 New Commercial Certified Mortgage Servicer Graduates

June 24, 2024 PROGRESS In Lending

MBA Education, the award-winning education division of the Mortgage Bankers Association (MBA), recognized 23 individuals who earned the Commercial Certified Mortgage Servicer (CCMS®) designation. The 2024 class is the largest graduating class in program history.