Mortgage industry of the United States

Housing Sentiment Up Slightly on Reported Household Income Gains

Retrieved on: 
Friday, December 7, 2018
Mortgage industry of the United States, Fannie Mae, Economy of the United States, Economy, Mortgage loan, Finance

"The HPSI has moved within a tight range over the past five months, as positive sentiment regarding the overall economy continued to offset cooling housing sentiment," said Doug Duncan, senior vice president and chief economist at Fannie Mae.

Key Points: 
  • "The HPSI has moved within a tight range over the past five months, as positive sentiment regarding the overall economy continued to offset cooling housing sentiment," said Doug Duncan, senior vice president and chief economist at Fannie Mae.
  • "Consumers' perceptions of growth in their household income reached a survey high this month, helping to absorb some of the impact of increasing mortgage rates on housing market activity.
  • The Home Purchase Sentiment Index (HPSI) distills information about consumers' home purchase sentiment from Fannie Mae's National Housing Survey (NHS) into a single number.
  • We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risk.

Intuvo White Paper Reveals Why Credit Unions Stand to Benefit from Mortgage

Retrieved on: 
Friday, December 7, 2018
Loans, Mortgage loan, Economy, Finance, Money, Mortgage industry of the United States, Subprime mortgage crisis, Fair Mortgage Collaborative

In its new white paper, "The Keys to Credit Union Success in Mortgage," Intuvo details how credit unions can win more mortgage business and outlines the key benefits of a strong mortgage lending program.

Key Points: 
  • In its new white paper, "The Keys to Credit Union Success in Mortgage," Intuvo details how credit unions can win more mortgage business and outlines the key benefits of a strong mortgage lending program.
  • Credit unions that continually explore new areas of loan growth realize the potential revenue and benefits offered by additional products.
  • "Credit Unions that win more mortgage business stand to realize significant revenue through the transaction," notes Intuvo CEO Jeff Shood.
  • Credit unions interested in learning more can download Intuvo's new, free White Paper The Keys to Credit Union Success in Mortgage .

Floify Joins with Equifax to Expand Features and Functionality of their Next-Generation Mortgage Point-of-Sale Solution

Retrieved on: 
Thursday, December 6, 2018
Mortgage industry of the United States, Loans, Mortgage loan, Fannie Mae, Economy of the United States, Finance, Economy, Mortgage-backed security, United States housing bubble, Structured finance

BOULDER, Colo., Dec. 6, 2018 /PRNewswire-PRWeb/ -- Floify , the mortgage industry's leading point-of-sale solution, announced today it is joining forces with global information solutions company, Equifax .

Key Points: 
  • BOULDER, Colo., Dec. 6, 2018 /PRNewswire-PRWeb/ -- Floify , the mortgage industry's leading point-of-sale solution, announced today it is joining forces with global information solutions company, Equifax .
  • This partnership integrates the power of the Equifax Trended Credit*Hi-Lite and The Work Number, which enables eligibility for Day 1 Certainty from Fannie Mae, with Floify's flexible and feature-packed mortgage automation solution.
  • "We are excited to partner with Equifax, as Floify continues leading the mortgage tech market with a secure and comprehensive point-of-sale solution," said Dave Sims, CEO of Floify.
  • Floify is a digital mortgage point-of-sale solution that streamlines the loan process by providing a secure application, communication, and document portal between lenders, borrowers, referral partners, and other mortgage stakeholders.

Neil Cremin joins New Fed Mortgage as a Senior Loan Officer

Retrieved on: 
Monday, December 3, 2018
Loans, Mortgage industry of the United States, Mortgage loan, Mortgage, Mortgage origination

He has seen all sides of residential lending as both an inside operations specialist and in sales as a loan originator.

Key Points: 
  • He has seen all sides of residential lending as both an inside operations specialist and in sales as a loan originator.
  • Neil focuses on his client's specific situation whether it may be the benefits of refinancing an existing mortgage to improve their financial situation or a prequalification to buy their new dream home.
  • He is an accomplished mortgage industry professional focused on quality service and certainly will complement our mortgage origination endeavors in Massachusetts".
  • New Fed Mortgage, locally based in Massachusetts has specialized in residential retail mortgage lending since 2001 with in-house processing, underwriting and closings.

Fannie Mae Releases October 2018 Monthly Summary

Retrieved on: 
Friday, November 30, 2018
Mortgage industry of the United States, Finance, Economy, Fannie Mae, Mortgage loan, Mortgage-backed security, Freddie Mac

WASHINGTON, Nov. 30, 2018 /PRNewswire/ -- Fannie Mae's (OTC Bulletin Board: FNMA) October 2018 Monthly Summary is now available.

Key Points: 
  • WASHINGTON, Nov. 30, 2018 /PRNewswire/ -- Fannie Mae's (OTC Bulletin Board: FNMA) October 2018 Monthly Summary is now available.
  • The monthly summary report contains information about Fannie Mae's monthly and year-to-date activities for our gross mortgage portfolio, mortgage-backed securities and other guarantees, interest rate risk measures, serious delinquency rates, and loan modifications.
  • Fannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of Americans.
  • We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risk.

FTC Amends Complaint against Lending Club

Retrieved on: 
Thursday, November 29, 2018
Economy, Finance, Money, Lending Club, Federal Trade Commission, Loans, Urban politics in the United States, Credit, Mortgage industry of the United States

The Federal Trade Commission has amended its complaint against LendingClub Corporation, an online lending company that the Commission alleges deceived consumers by falsely promising them loans with no hidden fees.

Key Points: 
  • The Federal Trade Commission has amended its complaint against LendingClub Corporation, an online lending company that the Commission alleges deceived consumers by falsely promising them loans with no hidden fees.
  • According to the FTCs original complaint, filed in April 2018, Lending Club falsely promises consumers that they will receive a specific loan amount with no hidden fees, when, in actuality, the company deducts hundreds or even thousands of dollars in hidden up-front fees from the loans.
  • The FTC also alleged that Lending Club tells consumers they are approved for loans when they are not, takes money from consumers bank accounts without authorization, and has failed to provide required privacy notices.
  • The amended complaint adds further detail about the scope of the harm caused by Lending Clubs allegedly unauthorized bank account withdrawals and includes additional examples of the companys alleged deception about loan approval.

FTC Amends Complaint against Lending Club

Retrieved on: 
Thursday, November 29, 2018
Economy, Lending Club, Federal Trade Commission, Finance, Loans, Urban politics in the United States, Credit, Mortgage industry of the United States

The Federal Trade Commission has amended its complaint against LendingClub Corporation, an online lending company that the Commission alleges deceived consumers by falsely promising them loans with no hidden fees.

Key Points: 
  • The Federal Trade Commission has amended its complaint against LendingClub Corporation, an online lending company that the Commission alleges deceived consumers by falsely promising them loans with no hidden fees.
  • According to the FTCs original complaint, filed in April 2018, Lending Club falsely promises consumers that they will receive a specific loan amount with no hidden fees, when, in actuality, the company deducts hundreds or even thousands of dollars in hidden up-front fees from the loans.
  • The FTC also alleged that Lending Club tells consumers they are approved for loans when they are not, takes money from consumers bank accounts without authorization, and has failed to provide required privacy notices.
  • The amended complaint adds further detail about the scope of the harm caused by Lending Clubs allegedly unauthorized bank account withdrawals and includes additional examples of the companys alleged deception about loan approval.

First Financial of Maryland Leverages CU Direct's Lending 360 LOS Technology to Streamline Loan Originations

Retrieved on: 
Tuesday, November 27, 2018
Loans, Mortgage industry of the United States, Loan origination, Lending Club

ONTARIO, Calif., Nov. 27, 2018 /PRNewswire/ -- CU Direct , the nation's leading credit union lending technology developer, has partnered with First Financial of Maryland Federal Credit Union (63,724 members, $1.1 billion in assets) to implement CU Direct's Lending 360 comprehensive accountand loan origination system (LOS).

Key Points: 
  • ONTARIO, Calif., Nov. 27, 2018 /PRNewswire/ -- CU Direct , the nation's leading credit union lending technology developer, has partnered with First Financial of Maryland Federal Credit Union (63,724 members, $1.1 billion in assets) to implement CU Direct's Lending 360 comprehensive accountand loan origination system (LOS).
  • More than 135 credit unions are leveraging the Lending 360 platform to drive both loan efficiencies and originations.
  • "We're pleased to be working with CU Direct as our new consumer LOS provider, and implementing the Lending 360 Loan Origination System," said Dan Kriebel, chief lending officer of First Financial of Maryland.
  • The Lending 360 system's powerful, and configurable, workflow engine provides credit unions with a single platform that automates loan application processing activity across all consumer lending channels.

Realtors® Pleased to see FHFA Raise its 2019 National Loan Limits

Retrieved on: 
Tuesday, November 27, 2018
Mortgage industry of the United States, Finance, Economy, Money, Subprime mortgage crisis, Loans, United States Department of Housing and Urban Development, Credit, Federal Housing Finance Agency, Conforming loan, Jumbo mortgage

WASHINGTON, Nov. 27, 2018 /PRNewswire/ --This morning, the Federal Housing Finance Agency announced it will raise the national conforming loan limit for 2019 by 6.9 percent from $453,100 to $484,350.

Key Points: 
  • WASHINGTON, Nov. 27, 2018 /PRNewswire/ --This morning, the Federal Housing Finance Agency announced it will raise the national conforming loan limit for 2019 by 6.9 percent from $453,100 to $484,350.
  • As a result, loan limits will be higher in all but 47 counties or county equivalents across the country beginning on January 1.
  • "The National Association of Realtors is pleased to see the Federal Housing Finance Agency raise its national conforming loan limits for 2019.
  • Visit this link to view for the new limit in your county:
    Each year, the FHFA updates the national and high-cost limits based on the FHFA's national price index.

LendingTree Introduces New Mortgage Comparison Shopping Report

Retrieved on: 
Tuesday, November 27, 2018
LendingTree, Economy, Finance, Mortgage loan, Money, Mortgage industry of the United States, Mortgage industry of the United Kingdom, Mortgage

CHARLOTTE, N.C., Nov. 27, 2018 /PRNewswire/ -- LendingTree , the nation's leading online loan marketplace, today announced the release of its inaugural Mortgage Comparison Shopping Report .

Key Points: 
  • CHARLOTTE, N.C., Nov. 27, 2018 /PRNewswire/ -- LendingTree , the nation's leading online loan marketplace, today announced the release of its inaugural Mortgage Comparison Shopping Report .
  • The LendingTree Mortgage Rate Distribution details the range of mortgage interest rates on offer.
  • LendingTree's Mortgage Comparison Shopping Report does just this, improving consumers' understanding of the market by showing the range of rates that actual borrowers were offered on the LendingTree platform.
  • Mortgage Comparison Shopping Report for the week ending Nov. 25, 2018:
    For 30-year fixed-rate mortgages, 37.4% of purchase borrowers received offers under 5%, up from 29.4% the prior week.