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Inside Mortgage Trends

June 2, 2006

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Internet Loans Barely Hold Their Own

Online origination volume posted a 3.7 percent increase in the first three months of 2006 over the same period in 2005, according to a new Inside Mortgage Technology analysis. However, the online share of total originations remained flat and even weakened when compared with last year. Eight out of the top 10 online originators posted double-digit increases during the first quarter over the same period a year ago. Only four lenders in the top… [Two data tables included] Read More

Recorders Set to Get New Standards

The formal alliance between the Property Records Industry Association and the Mortgage Industry Standards Maintenance Organization has paid off in rather quick fashion. The PRIA is now moving ahead on two new standards that will greatly smooth the eMortgage process. The group’s eRecording standard v2.4, which spells out the “Intellectual Property Rights and Patent Infringement Disclosure,” finished its public review period May 19. Recorders and lenders can implement it just as soon as Mark Ladd,… Read More

Fitch Dispels Notion That AVMs Lag Prices, Ends Discounting

Fitch Ratings has had a change of heart. For a long time, the firm did not trust automated valuation models used in housing markets it considered soft. This resulted in Fitch trimming property values by 10-15 percent in those areas when lenders used non-full appraisals. AVM vendors opposed Fitch’s methodology and complained that the firm’s view that AVM data would lag true property values in a soft market was inaccurate. … Read More

Using the Internet to Generate Leads is Becoming a Norm

More lenders are turning to the Internet for borrower leads, and many are teaming with real estate agents or home listing Web sites to keep their pipeline full. One hot Internet lead generator is HouseValues.com. The home shopping site also owns lender comparison site LoanPage.com. Lead freshness prompted vendor Ellie Mae to offer a seamless integration to HouseValues’ products within its loan origination system, Encompass. … Read More

Vendor News Roundup

PCI Corp. has released a new module, Wiz Sentinel Broker Database, which enables lenders to validate a broker’s license for every mortgage in every state. Interthinx has teamed with Radar Multimedia to produce a fraud prevention training video. The feature, FSI: Fraud Scheme Investigation, will premiere at the Mortgage Bankers Association’s Quality Assurance Conference in September. … Read More

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