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Inside Mortgage Trends

October 6, 2017

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Surging Purchase-Loan Sector in GSE Market Lifts Correspondents in 3Q17

Fannie Mae and Freddie Mac saw a huge jump in deliveries of purchase-money mortgages during the third quarter, although the first-timer share of the market fell slightly. The two government-sponsored enterprises securitized $140.75 billion of purchase mortgages during the third quarter, an increase of 26.4 percent from the previous three-month period. Purchase loans accounted for 62.9 percent of loans sold into GSE mortgage-backed securities during ... [Includes two data charts] Read More

Layoffs at HomeStreet Pinned on Housing Supply

Plenty of potential homebuyers have prequalified with HomeStreet Bank for mortgages this year but the bank has significantly cut its mortgage staff because originations have been below expectations. The bank focuses on markets on the West Coast and officials said purchase-mortgage originations have been constrained by a low supply of homes for sale. “The strong West Coast economies and local markets in which we operate are continuing to produce above-average job and population growth ... Read More

Few Lenders Are Satisfied with Lending Systems

There’s room for improvement in loan origination system offerings, according to a survey of 250 lenders by Strategic Mortgage Finance Group. The consulting group recently released details from its 2016 survey on lenders’ LOS. Lead generation/management was by far the lowest rated functionality within various systems. Only 4.0 percent of survey participants said the lead generation/management offered by their LOS was highly effective. “With the market shift to more purchase business, the lack ... Read More

Private Money, Fix & Flip Markets Growing

Thanks to a comeback in private-money lending and a boom in the “fix-and-flip” sector, FCI Lender Services has seen its servicing portfolio double the past two years to roughly $7 billion. By 2019, it expects to be servicing upwards of $10 billion. At least that’s the forecast from Gordon Albrecht, senior director in charge of marketing and strategies for the Anaheim, CA-based nonbank. “Business is accelerating across the board,” said Albrecht. The only sector that’s not expected to show ... Read More

Using SaaS as ‘Fast Pass’ to the Digital Mortgage

Accenture, a global professional services company, is re-imagining Software-as-a-Service to give mortgage lenders an advantage in migrating to a digital lending environment. In a new white paper, the firm begins by noting that mortgage lenders are moving as quickly as possible these days toward the digital mortgage. “While each lender defines this product slightly differently, the consumer sees it as an overdue evolution in home finance,” said Accenture. “There are many advantages for ... Read More

Partnership Promotes Singular, Digital Platform

Industry activity to promote the digitalization of the mortgage process seems to be accelerating of late. This week, ServiceLink, a provider of transaction services to the mortgage industry, and Roostify, a provider of automated lending technology, announced a partnership they said will extend the digital experience for lenders and consumers alike. Chris Azur, CEO of ServiceLink, said the pairing will improve the overall consumer and lender mortgage experience through enhanced ... Read More

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