Mortgage Cadence and RealEC partner

Aug 28, 2007

National City Mortgage to absorb National Home EquityMortgagePress.comMortgage industry mergers In order to streamline its mortgage operations, National City Corporation (NCC) will integrate its National Home Equity (NHE) business unit into its National City Mortgage Company (NCMC) business unit. As part of the integration, certain NHE executives and sales managers will join NCMC's wholesale division. NCC will provide resources and support to those others, whose positions will be eliminated. NCC is a financial holding company based in Cleveland. For more information, call (888) 622-4932 or visit www.nationalcity.com.

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Aug 28, 2007

Courts

LoanSnap Officially Loses Connecticut License

The AI mortgage startup formerly faced a cease and desist and a consent order from the State of Connecticut.

LoanSnap, Inc., an AI-powered mortgage startup, has had its license to operate revoked in Connecticut, according to a new Consent Order executed by the State's Banking Commissioner, Jorge Perez, on Oct. 2. The news follows LoanSnap's violation of a previous order, enacted in...

Analysis and Data

Mortgage Applications Fall After Rate-Jump

Refinance applications still 159% higher on an annual basis, reflecting last year's record lows

In the wake of a positive jobs report and subsequent rise in mortgage rates, more prospective borrowers held back this past week. Mortgage applications fell by 5.1% the week ending October 4, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applicati...