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

High Rates Squeeze Buyers as US Home-Price Gains Cool

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In: New Home Mortgage News

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Annual growth in US home prices slowed in February as buyers were squeezed by higher borrowing costs. According to S&P CoreLogic Case-Shiller data, home prices rose 2 percent nationally in February, a slower pace than January’s 3.7 percent gain.  ManyContinue 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

Single Family Housing Sector Saw Increase In March 2023

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In: New Home Mortgage News

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The US single-family housing sector showed improvement in March, with an increase in homebuilding and permits for future construction. The Commerce Department reported that single-family housing starts, which make up the majority of homebuilding, rose by 2.7% to a seasonally adjustedContinue Reading

California-based Startup Splitero Funds Series A Round

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In: Home Equity News

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San Diego, California-based home equity investment (AMI) startup Splitero has raised approximately $12 million in Series A funding to expand its operations. Fiat Ventures led $11.7 million, the two parties announced on Tuesday. Gemini Ventures, Joint Effects, PBJ Capital, PermitContinue 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

Foreclosure Activity In The U.S. Doubled in 2022 According To ATTOM

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In: Realtor News

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Foreclosure activity in the U.S. will double by 2022 but remain well below pre-pandemic levels, a new report says. According to real estate data, from ATTOM’s 2022 year-end U.S. foreclosure market report released Thursday, the U.S. is expected to recordContinue 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

Defy Mortgage Launches as a National Mortgage Lender For Non-QM Loans

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In: New Home Mortgage News

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As a national mortgage lender with a focus on non-qualified (Non-QM) loans, Defy Mortgage announced on Tuesday that it had begun operations. situated in Nashville, Tennessee. According to Defy, it provides special lending options for trustworthy borrowers with unusual sourcesContinue Reading