President Biden could reduce FHA mortgage insurance premiums. Here’s what it means for you
Many mortgage pros believe President Biden will cut FHA mortgage insurance premium (MIP) rates. Here’s what that means for you.
Many mortgage pros believe President Biden will cut FHA mortgage insurance premium (MIP) rates. Here’s what that means for you.
Posted To: MND NewsWire
Borrowers looking to refinance were quick to take advantage of a slight drop in interest rates last week. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage loan application volume, jumped 8.1 percent on a seasonally adjusted basis during the week ended January 29, and was up 10 percent on an unadjusted basis. The index had declined in each of the two previous weeks. The Refinance Index increased 11 percent from the previous week, also reversing two weeks of losses, and was 60 percent higher than the same week one year ago. The refinance share of mortgage activity increased to 71.4 percent of total applications from 70.7 percent the previous week. The seasonally adjusted Purchase Index ticked up 0.1 percent and was 8 percent higher on an unadjusted…(read more)
Fintech company Avanze Tech Labs has launched an AI-powered SaaS software that automates and expedites the post-close process. “Post-closing has been an ignored sector in the digital mortgage evolution, and we saw an opportunity to better serve the industry,” Avanze Tech Labs president and CEO Auvese Pasha said. “With STACX we are using AI in the most intelligent … [Read more…]
Refinance demand jumps 105% annually, as mortgage rates set 15th record low of 2020 CNBC
Open Mortgage, a multi-channel home lender, has brought in Lucas Allen to spearhead its forward operations department, helping the company meet customers’ service level expectations. As senior vice president of forward operations, Allen will oversee the mortgage production process for all forward loans, including managing the appraisal, disclosures, processing, underwriting, closing, and funding teams. “Lucas … [Read more…]
First Foundation is relocating its corporate headquarters to Dallas, where the tax burden is lighter and it sees more opportunity to beef up lending, add wealth management clients and pursue acquisitions of community banks.
Mortgage rates spike to highest levels in nearly two months The Washington Post
The Association of Independent Mortgage Experts (AIME), a national trade membership association for independent mortgage brokers, has named Katie Sweeney as CEO. Before being promoted to CEO, Sweeney served as AIME’s executive vice president of strategy, where she led partnerships with top wholesale mortgage lenders and industry vendors to provide real-time support and exclusive access … [Read more…]
Also, private money is expected to return to the mortgage securitization market, according to lenders who responded to an Altisource survey.