After Falling For Two Weeks Mortgage Rates Resume Their Climb

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In: Mortgage News

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This month marked the first time when mortgage rates in the US experienced an upward trend. Freddie Mac’s latest statement highlights the steady growth in the average rate for a 30-year, fixed loan, standing at a competitive 6.39% this weekContinue Reading

The Surge in U.S. Mortgage Applications Signals Early May Momentum

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In: Mortgage News

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The Mortgage Bankers Association’s Weekly Mortgage Applications Survey reported a 6.3 percent increase in U.S. mortgage applications for the week ending May 5, 2023.  The Market Composite Index, which measures mortgage loan application volume, also increased 6.3 percent on aContinue Reading

Unlocking the intricate dance between job gains and mortgages

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In: Mortgage News

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Life can be quite unpredictable, as the saying goes, “One day you’re up, and the next day you’re down.” This rings particularly true in the world of finance and economics.  Take, for example, the recent events in the US economy.Continue Reading

The Mortgage Servicing Company PHH Mortgage has Entered into a Sub-servicing Agreement with Finance of America Reverse

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In: Mortgage News

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PHH Mortgage Corp. is a subsidiary of Ocwen Financial Corp., which is a non-bank mortgage servicer and originator.  Has recently announced that it has signed a reverse mortgage sub-servicing agreement with Finance of America Reverse LLC. The deal is viewedContinue Reading

Despite higher mortgage rates, demand for home loans has increased

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In: Mortgage News

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Last week, despite the increase in mortgage rates, the demand for home loans surged. According to a report by the Mortgage Bankers Association (MBA), the Market Composite Index rose by 3.7% on a seasonally adjusted basis, with conventional and governmentContinue Reading

First-time homebuyers retreat from the market as mortgage applications decline

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In: Mortgage News

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As the banking crisis stabilized last week, mortgage rates rose and borrower demand for home loans fell.  However, with fewer homes for sale, these high prices are difficult for potential buyers. According to the weekly survey of mortgage applications (MBA),Continue Reading

Crain Mortgage Group Acquired By Legacy Bank and Trust Co

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In: Mortgage News

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Legacy Bank and Trust Co. and its holding company Ozark Heritage Financial Group Inc. (OHFG), recently announced the acquisition of Crain Mortgage Group LLC, a Dallas secondary market FHA/HUD multifamily loan originator. Crain Mortgage Group has changed its name toContinue Reading

Black Knight Launches Developer Portal Across The Mortgage Cycle

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In: Mortgage News

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Black Knight recently launched a portal that allows customers, third-party service providers, and their developers to access the company’s application programming interface (API) throughout the mortgage loan lifecycle. Called the Developer Portal, customers can use the Black Knight API toContinue Reading

Stewart Title Acquires Elite Family of Companies

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In: Mortgage News

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Stewart Title is resuming its acquisition strategy. The Elite Family of Companies was acquired, according to a Tuesday announcement from the smallest of the Big Four title insurers. The acquisition’s financial information was kept under wraps. Elite Land Title, LLC,Continue Reading

Silvergate Cuts Workforce by 20% in the Fourth Quarter of 2022

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In: Mortgage News

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Silvergate Capital Corporation, the parent company of Silvergate Bank, which serviced Sam Bankman-Fried’s now-defunct cryptocurrency empire, is shutting down its mortgage business and cutting 20 % of the workforce as customers invested $8.1 billion in cryptocurrency-related deposits. Silvergate’s preliminary fourth-quarterContinue Reading