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Home Equity Gets a Boost Across the U.S.

20. September, 2018|DS News|No comments

A new study has found that homeowner’s equity has gone up. Here’s how home equity utilization can support additional consumption spending and home improvement expenditures.

The post Home Equity Gets a Boost Across the U.S. appeared first on DSNews.

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PromonTech’s Mortgage POS Now Integrated with Optimal Blue’s PPE

20. September, 2018|MortgageOrb|No comments

PromonTech‘s point-of-sale (POS) solution, Borrower Wallet, is now integrated with Optimal Blue‘s product and pricing engine.

That means loan officers get easy access to qualified products and rates – and consumers can easily review the types of mortgages they qualify for online.

PromonTech is the technology division of Promontory MortgagePath.

Borrower Wallet is a white-label, omni-platform POS that engages with customers using any computer or mobile device, on either a self-serve or assisted basis with a loan officer.

The secure, borrower-friendly environment is designed to build confidence and make it easy for the borrower to enter information, approve automated data collection, upload/e-send documents, sign disclosures, utilize the closing center, and stay informed throughout the loan origination journey through loan closing.

Borrower Wallet promotes both applicant self-service and values the role the loan officer plays as a trusted advisor.

Borrower Wallet offers a dashboard that shows the borrower their key metrics – credit score, debt-to-income, and loan-to-value ratios – that loan decision-makers will use to approve their loans. In addition, lenders can accommodate their applicants anytime/anywhere in a secure workspace and loan officers can be a true co-pilot by enhancing the application process and loan quality ahead of underwriting.

“In this competitive …read more

MorVest Handling Sale of High Performing Bulk Servicing Portfolio

20. September, 2018|MortgageOrb|No comments

MorVest Capital is handling the sale of a Freddie Mac bulk servicing portfolio with unpaid principle balance of about $102 million.

The portfolio consists of 100% retail loans.

The average FICO is 753 and the average loan balance is $124,366.

The weighted average note rate is 3.99%.

The portfolio has a very low delinquency rate of 1.9%.

The weighted average service fee is 25 basis points.

The portfolio also sports strong average escrows – 1.8% of principal – MorVest says in a release.

Bid deadline is September 27.

For more info, including loan level data, click here.

The post MorVest Handling Sale of High Performing Bulk Servicing Portfolio appeared first on MortgageOrb.

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The Impact of Ellie Mae’s Encompass Consumer Connect

19. September, 2018|DS News|No comments

Ellie Mae has announced since the launch of their Encompass Consumer Connect in early July 2018, over 1000 unique lender sites have been established and over 6,000 unique borrowers have created accounts to complete home loans.

The post The Impact of Ellie Mae’s Encompass Consumer Connect appeared first on DSNews.

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Finicity Partners with Capsilon

19. September, 2018|DS News|No comments

Finicity, a provider of real-time financial data aggregation and insights, recently announced an integration agreement with Capsilon, a provider of intelligent process automation software for the mortgage industry.

The post Finicity Partners with Capsilon appeared first on DSNews.

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Real Estate vs. Wire Fraud

19. September, 2018|DS News|No comments

With the industry facing increased attention from cyber-criminals, here are some of the steps housing professionals should be taking to secure their information, and that of their clients.

The post Real Estate vs. Wire Fraud appeared first on DSNews.

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Housing Starts Jumped 9.2% in August

19. September, 2018|MortgageOrb|No comments

After dropping in June and July, housing starts regained some ground in August, rising to an annual rate of about 1.282 million, an increase of 9.2% compared with an estimated 1.174 million in July and an increase of 9.4% compared with 1.172 million in August 2017, according to figures from the U.S. Census Bureau and U.S. Department of Housing and Urban Development.

Regionally, starts increased 19.1% in the West, 9.1% in the Midwest and 6.5% in the South, but remained flat in the Northeast.

Most of the increase came from a jump in multifamily production. Starts of single-family homes were at a rate of about 876,000, an increase of 1.9% compared with about 860,000 in July. Permits for multifamily homes (five units or more per building) were at a rate of about 392,000, an increase of 27.3% compared with 308,000 in July.

Building permits in August were at a seasonally adjusted annual rate of 1.229 million, a decrease of 5.7% compared with a revised 1.303 million in July and a decrease of 5.5% compared with 1.3 million in August 2017.

Permits for single-family homes were at a rate of 820,000, a decrease of 6.1% compared with a revised …read more

Diversity and Inclusion: Same Road, Different Destinations

19. September, 2018|DS News|No comments

How can the industry master what Malcolm Forbes called “the art of thinking independently together?” DS News looks at how servicers and government entities are evolving processes by tapping the benefits of diversity and inclusion. Editor’s Note: This feature originally appeared in the September issue of DS News, out now.

The post Diversity and Inclusion: Same Road, Different Destinations appeared first on DSNews.

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What’s Impacting Default Rates?

19. September, 2018|DS News|No comments

The mortgage default rate rose just slightly, staying relatively strong in August even with the impact form natural disasters. See what factors are keeping defaults down.

The post What’s Impacting Default Rates? appeared first on DSNews.

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Dane Smith: Technology Will Become a Larger Factor in Non-QM

19. September, 2018|MortgageOrb|No comments

Advertisement Freddie Mac

You’ve probably heard it before: Some umpteen million borrowers were shut out of the housing market due to tighter mortgage lending standards that were implemented in the aftermath of the financial crisis. By loosening standards a little bit today, the mortgage industry can give some of these creditworthy borrowers a new chance at homeownership and regain some lost business without taking a lot of risk.

Of course, things have changed in numerous ways since 2008 – a big one being that a larger share of American workers are now self-employed. The rise of the “gig economy” means borrowers potentially have multiple streams of income, creating an underwriting conundrum; many of these borrowers have the income necessary to make a mortgage payment – they have excellent credit histories and they pay their rent and utility bills on time – they just don’t qualify because they’re not traditional W2 wage earners.

As such, lenders (and the GSEs) are now looking to step “outside the credit box” and go after these creditworthy borrowers using alternative sources of credit data for underwriting purposes. It only seems logical that the use of alternative sources of credit data and automated underwriting will soon be applied to the now-fast-growing …read more

Robert Klein Honored at Five Star Conference

19. September, 2018|DS News|No comments

The Five Star Conference honored the late Robert Klein at the Conference’s annual Keys for Life with the Lifetime Achievement Award. In this video spotlight, see what impact Klein had on the housing industry.

The post Robert Klein Honored at Five Star Conference appeared first on DSNews.

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Mortgage Applications See First Increase in Three Weeks

19. September, 2018|MortgageOrb|No comments

After decreasing for three consecutive weeks, mortgage application volume regained some ground during the week ended Sept. 14, increasing 1.6% on an adjusted basis as the average rate for a 30-year fixed-rate mortgage increased to 4.88%, up from 4.84%, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey.

It was only the second week that saw an increase since the week of August 1.

Applications for refinances increased 4% while applications for purchases increased 0.3%.

The previous week’s results included an adjustment for the Labor Day holiday.

On an unadjusted basis, total volume increased 12%.

Applications for purchases increased 9% on an unadjusted basis compared with the previous week and were 4% higher compared with the same week one year earlier.

The refinance share of mortgage activity increased to 39.0% of total applications, up from 37.8% the previous week.

The adjustable-rate mortgage (ARM) share of activity increased to 6.5% of total applications.

The average rate for a 5/1 ARM increased to 4.17%, up from 4.07%.

The post Mortgage Applications See First Increase in Three Weeks appeared first on MortgageOrb.

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Spotlight on D&I and Default Servicing Trends

18. September, 2018|DS News|No comments

The last day of the Five Star Conference saw attendees taking home the lessons learned on the most pressing issues of the day in three different areas of the mortgage industry. Here are the highlights of the conversations that made a difference.

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And the Women in Housing Awards Recipients Are …

18. September, 2018|DS News|No comments

The recipients of the 2018 inaugural Keystone Awards were announced at the 2018 Women in Housing Awards Banquet at the Five Star Conference. Click through to learn which of the 25 finalists received this recognition.

The post And the Women in Housing Awards Recipients Are … appeared first on DSNews.

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A Smarter Approach to Property Management

18. September, 2018|DS News|No comments

Managing a single-family rental or REO property presents no shortage of challenges, but some can be mitigated simply by keeping track of your “behind-the-wall” assets.

The post A Smarter Approach to Property Management appeared first on DSNews.

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