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Rate FOMO may trigger home shoppers to buy

The near certainty that interest rates, combined with increased home buying power, will likely to send more buyers into the market, according to First American. “The fear of missing out, or 'FOMO,' on low rates and the potential...

Millennial demand continues to fuel housing market

The market for existing-home sales outperformed its potential by 10.4% or an estimated 662,000 (SAAR, or seasonally adjusted annual rate) sales, according to First American’s proprietary Potential Home Sales Model…

Builders finish 2021 on a strong note

Privately-owned housing units authorized by building permits in December 2021 were at a seasonally adjusted annual rate of 1,873,000, 9.1% above the revised November rate of 1,717,000 and 6.5% above the December 2020…

60% of sales involved bidding wars in December

Nationwide, 59.6% of home offers written by Redfin agents faced bidding wars in December 2021, according to a new report from Redfin. That’s the lowest share in 12 months and down from a revised rate of 61.3% in…

Consumers tapping equity for home improvement

Americans are beginning to tap into record levels of home equity, according to the results of a new survey from LendingTree. On average, 48.59% of people seeking a home equity loan or HELOC across the nation’s…

Default indices show higher rates in December

The composite rate for the S&P/Experian Consumer Credit Default Indices rose three basis points to 0.40% in December 2021. The bank card default rate increased one basis point to 1.95%. The auto loan default rate was up…

UpEquity expands cash offer platform

UpEquity, the tech-enabled mortgage company creating a better way to buy a home, has expanded its platform into the California real estate market. With the addition of California, UpEquity is now licensed to do business in…

Black mortgage applicants denied 84% more than whites

Black applicants are denied a mortgage at a rate 84% higher than white applicants — a big jump from 2019, when the disparity was 74%. This is according to a Zillow analysis of data from the Home Mortgage Disclosure Act (HMDA)…

First-time homebuyer affordability drops

Falling rates pushed buying power for first-time homebuyers to a 14% year-over-year increase in the third quarter of 2021, according to Ksenia Potapov, economist at First American. However, with annual house price appreciation…

Watermark Bank moves to ease teacher shortage

An Oklahoma bank is taking unprecedented steps to ease the pressure on local public schools caused by the continuing COVID crisis. Watermark Bank co-founder, president and CEO, Matt Pollock announced via…

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Aspire Home Loans chooses Empower and Surefire

Aspire Home Loans LLC, a Nashville-based independent mortgage banker, has signed a contract to implement the Black Knight Empower LOS and integrated origination performance solutions, including the Surefire customer relationship management (CRM) and marketing...

Trust Lending chooses ReverseVision

Trust Lending, a national mortgage banker, is now live with ReverseVision’s Exchange (RVX) platform for its wholesale lending channel.  The lender recently implemented ReverseVision’s Exchange loan origination system (LOS) to automate the reverse lending process....

Resource Financial partners with Ocrolus

Resource Financial Services, an independent mortgage banker serving the southeastern U.S., has formed a technology partnership with Ocrolus, an automation platform that analyzes financial documents.  The lender has integrated Ocrolus' Human-in-the-Loop (HITL)...

Asurity launches RegCheck regtech product

Asurity, a provider of mortgage compliance cloud software, has released RegCheck, the latest addition to its product suite.  RegCheck is designed to quickly identify root cause compliance failures in loan applications and pinpoint the specific data gaps that need...

Equifax enhances mortgage verification solutions

Equifax has completed service enhancements to its portfolio of verification solutions available to the mortgage industry. These new options are powered by The Work Number.  Lenders can now request "all employers within 60 months" to pull the prior five years of...

nCino completes SimpleNexus acquisition

nCino, Inc., a solution provider for the global financial services industry, has completed its acquisition of SimpleNexus, a cloud-based, mobile-first homeownership software company, for total consideration of approximately 12.76 million shares of nCino common stock...

Sound Credit Union selects Empower

Washington-based Sound Credit Union has signed a contract to implement the Black Knight Empower loan origination system (LOS) and integrated suite of origination solutions.  Sound Credit Union says it will use the Empower LOS to streamline the origination of...

AnnieMac affiliate implements Amperity CDP

Analytical Sciences Marketing Group LLC, which conducts business as HomeHunt, a mortgage and real estate digital marketing platform affiliated with AnnieMac Home Mortgage, has implemented Amperity's Customer Data Platform (CDP) for ID management. HomeHunt implemented...

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