Streamline refinancing

2020 Savings on Auto Loan Refinancing Among Highest on Record

Retrieved on: 
Tuesday, January 26, 2021

The report provides an analysis of over half a million anonymized customer auto loan refinance applications from 2019-2020, examining interest rates, savings, credit scores, and debt-to-income ratios by vehicle type and geographical region.

Key Points: 
  • The report provides an analysis of over half a million anonymized customer auto loan refinance applications from 2019-2020, examining interest rates, savings, credit scores, and debt-to-income ratios by vehicle type and geographical region.
  • Americans saved an average of $989.72 a year on refinancing their car in 2020, the largest amount since 2016.
  • On average, Americans who applied to refinance their auto loans did so only 14.5 months into their existing loan -- the shortest time on record.
  • "Interest in better, more attractive terms for collateral-backed loans such as mortgage refinancing and auto refinancing, with the help of historically low fed rates, has increased.

Ideal Credit Union Waives Origination Fee on Community Heroes Mortgage Product

Retrieved on: 
Monday, August 3, 2020

WOODBURY, Minn., Aug. 3, 2020 /PRNewswire-PRWeb/ -- Ideal Credit Union is waiving the origination fee on its Community Heroes Mortgage Program loans to provide relief to eligible heroes who have done so much to serve us during these challenging times.

Key Points: 
  • WOODBURY, Minn., Aug. 3, 2020 /PRNewswire-PRWeb/ -- Ideal Credit Union is waiving the origination fee on its Community Heroes Mortgage Program loans to provide relief to eligible heroes who have done so much to serve us during these challenging times.
  • The no origination fee offer is good on applications received between August 1 - October 31, 2020.
  • "Through the Ideal Community Heroes Mortgage Program, we provide a meaningful way to give back to these brave, selfless individuals and help them to achieve their goal of homeownership."
  • Ideal Credit Union offers a full range of mortgage solutions to fit the needs of borrowers, including fixed rate, FHA/VA, adjustable rate, refinancing options and more.

Premier Mortgage Resources, LLC, launches 'Hometown Heroes' program

Retrieved on: 
Saturday, July 11, 2020

Under this program, any first responder or health care professional approved for a home loan through PMR will receive a closing cost credit.

Key Points: 
  • Under this program, any first responder or health care professional approved for a home loan through PMR will receive a closing cost credit.
  • Qualifying borrowers are eligible for a credit of up to $1,295 toward the cost of closing their home loan from a waived documentation fee.
  • If borrowers choose to work with a real estate agent who is participating in the program, they will receive an additional credit amount, determined by the agent.
  • The company prides itself on excellence in customer service, competitive rates and the best mortgage programs available.

JetClosing Introduces Fully Digital Mortgage Refinancing Platform for Lenders, Agents and Homeowners

Retrieved on: 
Thursday, June 4, 2020

SEATTLE, June 4, 2020 /PRNewswire/ -- JetClosing , the leader in digital real estate title and escrow settlement transactions, today announced the launch of its digital mortgage refinancing solution designed for lenders, agents and homeowners called JetClosing Refinance.

Key Points: 
  • SEATTLE, June 4, 2020 /PRNewswire/ -- JetClosing , the leader in digital real estate title and escrow settlement transactions, today announced the launch of its digital mortgage refinancing solution designed for lenders, agents and homeowners called JetClosing Refinance.
  • In addition to its new refinancing product, JetClosing offers a suite of digital title and escrow services via a cloud-based platform and mobile app.
  • "The impact of the pandemic on single-family real estate - especially in regard to mortgage rates and refinancing - has been tremendous.
  • "As a company, JetClosing was built to operate fully remotely, so expanding our refinancing product to give lenders and homeowners a secure digital workflow to fill these orders is a natural fit for us."

Mortgage Rates Hit Another All-Time Low

Retrieved on: 
Thursday, May 28, 2020

Additionally, refinance activity remains elevated and low mortgage rates have been accompanied by a $70,000 decline in the average loan size of refinance borrowers this year.

Key Points: 
  • Additionally, refinance activity remains elevated and low mortgage rates have been accompanied by a $70,000 decline in the average loan size of refinance borrowers this year.
  • This means a broader base of borrowers are taking advantage of the record low rate environment, which will benefit the economy.
  • 15-year fixed-rate mortgage averaged 2.62 percent with an average 0.7 point, down from last week when it averaged 2.70 percent.
  • Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage.

Canadians race to refinance mortgages after Bank of Canada cuts rates due to COVID-19

Retrieved on: 
Tuesday, April 7, 2020

The most recent rate cut has brought the key interest rate down to 0.25%its lowest level since 2010and has prompted many Canadians to refinance their mortgages.

Key Points: 
  • The most recent rate cut has brought the key interest rate down to 0.25%its lowest level since 2010and has prompted many Canadians to refinance their mortgages.
  • However, if you can refinance to 2.39% as a result of the recent rate cuts, your monthly mortgage payment now falls to $2,124.
  • Read the full report at: https://www.lowestrates.ca/blog/homes/rate-cuts-canadian-mortgage-refina...
    LowestRates.ca is an online rate comparison site for insurance, mortgages, loans and credit card rates in Canada.
  • LowestRates.ca's mission is to help Canadians become more financially literate, with the near-term goal of saving them $1 billion in interest and fees.

Quontic Debuts First of Its Kind Streamline Refinance Mortgage

Retrieved on: 
Thursday, February 20, 2020

NEW YORK, Feb. 19, 2020 /PRNewswire/ -- Quontic , the adaptive digital bank, today announced an innovative new Streamline Refinance mortgage product.

Key Points: 
  • NEW YORK, Feb. 19, 2020 /PRNewswire/ -- Quontic , the adaptive digital bank, today announced an innovative new Streamline Refinance mortgage product.
  • Streamline Refinance loan rates start as low as 4.875%.
  • "The Dodd-Frank regulations have placed an unnecessary financial burden on non-QM mortgage customers as they typically obtain mortgages at interest rates of anywhere between 1% to 4% higher than conventional mortgage customers," shares Steve Schnall, CEO of Quontic.
  • The Streamline Refinance rewards mortgage customers with lower payments who may have been penalized with higher rates due to income documentation issues.

Quontic Debuts First of Its Kind Streamline Refinance Mortgage

Retrieved on: 
Wednesday, February 19, 2020

NEW YORK, Feb. 19, 2020 /PRNewswire/ -- Quontic , the adaptive digital bank, today announced an innovative new Streamline Refinance mortgage product.

Key Points: 
  • NEW YORK, Feb. 19, 2020 /PRNewswire/ -- Quontic , the adaptive digital bank, today announced an innovative new Streamline Refinance mortgage product.
  • Streamline Refinance loan rates start as low as 4.875%.
  • "The Dodd-Frank regulations have placed an unnecessary financial burden on non-QM mortgage customers as they typically obtain mortgages at interest rates of anywhere between 1% to 4% higher than conventional mortgage customers," shares Steve Schnall, CEO of Quontic.
  • The Streamline Refinance rewards mortgage customers with lower payments who may have been penalized with higher rates due to income documentation issues.

Briana Pelland Joins Mortgage Team at Ideal Credit Union

Retrieved on: 
Friday, January 31, 2020

WOODBURY, Minn., Jan. 31, 2020 /PRNewswire-PRWeb/ --Briana Pelland has joined the Mortgage team at Ideal Credit Union as a Mortgage Loan Advisor.

Key Points: 
  • WOODBURY, Minn., Jan. 31, 2020 /PRNewswire-PRWeb/ --Briana Pelland has joined the Mortgage team at Ideal Credit Union as a Mortgage Loan Advisor.
  • Pelland started her career with Ideal in February of 2018 and served as a Member Service Representative prior to moving to the Mortgage department.
  • "Briana is a welcome addition to our team and brings great energy and enthusiasm to her new position," said Faith Tholkes, VP of Mortgage Lending Operations.
  • Ideal Credit Union offers a full range of mortgage solutions to fit the needs of borrowers, including fixed rate, FHA/VA, adjustable rate, refinancing options and more.

Black Knight Mortgage Monitor: Servicer Retention Rates Fall in Q3 2019 Despite Refinance Volumes Hitting Highest Point in Nearly Three Years

Retrieved on: 
Monday, December 9, 2019

This month, in light of the recent surge in refinance volumes, Black Knight looked at how servicers' retention rates of refinancing borrowers have fared.

Key Points: 
  • This month, in light of the recent surge in refinance volumes, Black Knight looked at how servicers' retention rates of refinancing borrowers have fared.
  • As Black Knight Data & Analytics President Ben Graboske explained, despite refinance volumes hitting their highest point in nearly three years, retention rates fell in Q3 2019.
  • "After hitting an 18-year low in the fourth quarter of 2018, refinance lending has nearly doubled since then," said Graboske.
  • "But for both cash-out and rate/term refinances, borrowers are leaving their servicers at significant rates despite this surge in activity.