Mortgage Tech Rundown: Openly, roOmy, and Wolters Kluwer

Mortgage Tech Rundown looks at the latest news in mortgage technology, featuring new product updates, integrations and announcements. Tech-enabled home insurance provider Openly launched on Tuesday, equipped with $7.6 million from its seed round of funding. The company said in a press release it aims to simplify the home insurance buying process

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Mortgage credit eases in November, MBA says

It became easier to get a mortgage in November, according to data published Thursday by Mortgage Bankers Association. The group’s Mortgage Credit Availability Index rose 2.1% to 188.9 last month, indicating a loosening of credit standards. It was close to the 11-year high of 189.5 in June, according to MBA.

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FHA reverse mortgage limit set to rise in 2020

Just as it did with forward mortgages, the Federal Housing Administration is increasing its maximum claim amount for reverse mortgages for 2020. According to the FHA, the HECM limit will increase in 2020 to $765,600 from 2019’s level of $726,525. This marks the fourth straight year that the FHA has

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Multifamily delinquencies remain at record lows in Q3

Commercial and multifamily mortgage delinquencies remained at record lows in the third quarter of 2019, according to the Mortgage Bankers Association’s latest Commercial/Multifamily Delinquency Report. “Loans financing commercial and multifamily properties continue to perform very well,” said Jamie Woodwell, MBA vice president of commercial real estate research. “Delinquency rates are

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Freddie Mac: Mortgage rates hold steady amid economic uncertainty

This week, the average U.S. fixed rate for a 30-year mortgage came in at 3.68%. Although this rate is left unchanged from last week’s percentage, it’s still more than a percentage point below the 4.75% of the year-earlier week, according to the Freddie Mac Primary Mortgage Market Survey. “This week the economy sent mixed signals,

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