Opinion: Use data to scale your mortgage servicing business

Mortgage servicing is a scale business, meaning the economics of scale can be achieved with larger servicing portfolio by spreading the fixed costs among more loans being serviced. Such scaling; however, hasn’t achieved the expected results as indicated by both the increase of servicing cost on a per-loan basis and

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Opinion: Is the lending market overcorrecting toward tech? Maybe

Rates are rising. Refinances are falling. Inventory is contracting. Application fallouts are worsening. It’s getting harder out there. Worsening market conditions are only going to accelerate an already hyper-competitive mortgage lending industry that is still learning to adapt to post-pandemic homebuying behaviors. Technology has been the focal point of that

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MSR sales played a key role in nonbank profits in Q1

An ebullient market for mortgage-servicing rights (MSRs) helped to buoy the profitability of at least three major nonbank lenders that are publicly traded and abated losses for a fourth, based on their recently announced first-quarter financial results. Those lenders are UWM Holdings Corp., the parent of United Wholesale Mortgage; Rocket Companies Inc., the parent of Rocket

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Almost 45% of homeowners are now equity rich

Soaring home prices continue to serve existing homeowners, with nearly 45% of all property owners now considered equity rich, a year-over-year jump that boosted 13% more homeowners into the prime position. A homeowner is considered equity rich when they have at least 50% equity in their home, a feat more

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Purchase mortgage rates increase to 5.30%

Purchase mortgage rates this week averaged 5.30%, up three basis points from a week ago, causing homeowners’ monthly payments to increase by about one-third year-over-year, according to the latest Freddie Mac PMMS. Borrowers continue displaying resilience, but higher rates expected in coming months could reduce the overall appetite for mortgage loans.   “In

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Julia Gordon confirmed as new FHA commissioner

The U.S. Senate confirmed Julia Gordon on Wednesday evening to serve as commissioner of the Federal Housing Administration (FHA). The position is part of the Department of Housing and Urban Development. Gordon, who most recently stepped down from her role as president of the National Community Stabilization Trust, was narrowly

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HousingWire May Demo Day: BeSmartee

BeSmartee Mortgage Marketplace Lenders can leverage BeSmartee’s Mortgage Marketplace to solve for automation challenges by providing anonymous rate search tools for their loan officers, increasing online application conversion rates and offering borrowers an easier, faster and more transparent mortgage experience. Product Fast Facts #1 The borrower can get live rates

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HousingWire May Demo Day: Qualia

Qualia Connect Qualia Connect enables lenders to deliver better borrower experiences by giving them control and transparency over the title & escrow process. With Qualia, you can now move loans through the title process faster by automating otherwise manual steps such as order placement as well as standard requests for

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HousingWire May Demo Day: Total Expert

Customer Intelligence Customer Intelligence is the only all-in-one sales and marketing platform purpose built for modern lenders and banks. Key customer insights trigger customizable workflows, allowing lenders to take action with messaging based on a customers unique financial situation at that moment in time, allowing you to deliver the right

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