Originations

American Financial Resources (AFR) has grown to become a major nationwide retail, wholesale and correspondent lender, funding over $3.5 billion in the past year alone
American Financial Resources (AFR) has grown to become a major nationwide retail, wholesale and correspondent lender, funding over $3.5 billion in the past year alone.   The year 2017 marks the 20th anniversary for AFR, a family business dedicated to helping other families realize their dreams of... Keep Reading....
Home loans for purchases increased to 57 percent of mortgage originations in February
Home loans for purchases increased to 57 percent of mortgage originations in February, up from 53 percent the month prior, while refinancing activity dropped during the same period to 43 percent from 47 percent, according to the latest Origination Insight Report released by Ellie Mae.   The average... more
Question: On a purchase money transaction, the lender issued a Closing Disclosure which set forth a 30-year term, as opposed to the 15-year term the borrower wanted. The error was discovered while the borrower was at the closing table. The lender issued a corrected CD reflecting an APR increase of... more
NAMB—The Association of Mortgage Professionals has re-launched its Lending Integrity Seal of Approval. The Seal is designed to help consumers identify individual mortgage professionals and their mortgage loan originator associates who meet the industry’s highest standards for knowledge,... more
Home flipping is back with a vengeance
Home flipping is back with a vengeance, according to ATTOM Data Solutions’ 2016 Year-End U.S. Home Flipping Report, which found 193,009 single-family homes and condos were flipped last year, up 3.1 percent from 2015 to the highest level since 2006.   Home flipping, which ATTOM Data Solutions... more