Lender Switches To New LOS To Facilitate Growth

Groves Capital has selected LendingPad, a modern cloud-based loan origination system (LOS), to facilitate future growth. LendingPad’s system compliments Groves Capital’s tech-forward approach allowing them to focus on exceptional customer support. This collaboration provides modern and innovative technology and ensures that the unique needs of borrowers are at the forefront of the collective mission. This partnership facilitates a competitive advantage by delivering a streamlined lending experience.

Read more

MBA CREF Outlook Survey: Unsettled Markets Dissipating In 2023

Commercial and multifamily mortgage originators are experiencing an unsettled market for borrowing and lending but anticipate those conditions will slowly stabilize over the course of 2023. That is according to the Mortgage Bankers Association’s (MBA) 2023 Commercial Real Estate Finance (CREF) Outlook Survey, which polled the leaders of the top commercial and multifamily mortgage finance firms for their outlook for the year ahead.

Read more

Rate Locks Hit Record Lows For Second Consecutive Month

Black Knight, Inc. (NYSE:BKI) released its latest Originations Market Monitor report, looking at mortgage origination data through December month-end. Leveraging daily rate lock data from Black Knight’s Optimal Blue PPE – mortgage lending’s most widely used pricing engine – the Originations Market Monitor provides the industry’s earliest and most comprehensive view of origination activity.

Read more

Flueid And FirstClose Integrate To Deliver Accelerated Title Decisions And Simpler Closings For Home Equity Lending

Flueid, a real estate technology company that uses title data and insights to fuel transactions from end-to-end, has integrated with FirstClose, Inc. (FirstClose) – a provider of fintech solutions for home equity lenders nationwide – to accelerate the home equity lending process, compressing transaction timelines from weeks to as fast as five days and supporting a seamless end-to-end consumer experience.

Read more

Veros National Housing Market Annual Forecast Goes Negative For The First Time In More Than A Decade

Veros Real Estate Solutions, a provider of enterprise risk management and collateral valuation services, released its 2022 Q4 VeroFORECAST that anticipates home prices will turn negative overall and depreciate on average by -0.5% for the next twelve months. This is a significant drop from the 1.5% annual appreciation forecast just one quarter ago.  

Read more

Year-Over-Year Lock Volume Continues To Drop

December MCTlive! Lock Volume Indices show that year-over-year total lock volume (-67.5 percent) continues to drop, as expected, when compared to activity in 2021. Both the month-over-month rate/term refinance lock figure and purchase index decreased for the third consecutive month. Total mortgage rate locks by dollar volume decreased 19.8 percent month-over-month in December.

Read more