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The latest mortgage rate data from Freddie Mac found little in the way of movement
Mortgage Rates Hold Steady
The latest mortgage rate data from Freddie Mac found little in the way of movement.   The 30-year fixed-rate mortgage (FRM) averaged 4.81 percent for the week ending Nov. 29, unchanged from last week. The 15-year FRM this week averaged 4.... Read more
The National Association of Realtors (NAR) reported that its Pending Home Sales Index (PHSI) dropped by 2.6 percent to 102.1 in October
Pending Home Sales Down 2.6 Percent
The National Association of Realtors (NAR) reported that its Pending Home Sales Index (PHSI) dropped by 2.6 percent to 102.1 in October, down from 104.8 in September. Compared to one year earlier, the PHSI was down by 6.7 percent, which... Read more
Luxury home prices during the third quarter rose 3.2 percent year-over-year to an average of $1.7 million, the lowest growth rate since the fourth quarter of 2016, according to new data from Redfin
Luxury Home Prices at Lowest Growth Rate in Two Years
Luxury home prices during the third quarter rose 3.2 percent year-over-year to an average of $1.7 million, the lowest growth rate since the fourth quarter of 2016, according to new data from Redfin.   West Palm Beach, Fla., experienced the... Read more
Ellie Mae has announced that Dan Madden will join the company as Executive Vice President and Chief Financial Officer (CFO)
Dan Madden to Join Ellie Mae as EVP and CFO
Ellie Mae has announced that Dan Madden will join the company as Executive Vice President and Chief Financial Officer (CFO), reporting to Jonathan Corr, Ellie Mae’s President and Chief Executive Officer.   “Ellie Mae is leading the... Read more
Ocwen Targets a Return to Growth: Hires Chief Growth Officer
On Ocwen Financial Corporation’s third quarter 2018 earnings conference call, President and CEO Glen A. Messina talked about how the company’s acquisition of PHH provided the opportunity to transform Ocwen into a stronger, more efficient... Read more
Millennium Financial Group, a privately-held residential mortgage lender, has been acquired by Community Heritage Financial Inc., the parent holding company of Middletown Valley Bank
Millennium Financial Group Acquired by Bank Holding Company
Millennium Financial Group, a privately-held residential mortgage lender, has been acquired by Community Heritage Financial Inc., the parent holding company of Middletown Valley Bank.   Both companies are headquartered in Middletown, Md.... Read more
Federal Reserve Chairman Jerome Powell raised the possibility that the central bank is willing to hit the brakes on interest rate hikes in the near future
Powell Hints at Slowdown on Fed Rate Hikes
Federal Reserve Chairman Jerome Powell raised the possibility that the central bank is willing to hit the brakes on interest rate hikes in the near future.   The Federal Open Market Committee (FOMC), the central bank’s policy making arm,... Read more
Equifax has announced its Mortgage Lead Generation Models, a new solution that uses connected and differentiated data to help predict the likelihood that a lead will apply for a mortgage within the next two to six months
New Equifax Solution Helps Lenders Better Identify Prospective Buyers
Equifax has announced its Mortgage Lead Generation Models, a new solution that uses connected and differentiated data to help predict the likelihood that a lead will apply for a mortgage within the next two to six months. The solution uses... Read more
United Wholesale Mortgage (UWM), operating under parent company United Shore Financial Services, has announced that it will return $1.9 million in brownfield tax breaks that it received for its new $85 million, 600,000-square-foot headquarters in Pontiac,
UWM Records 52 Percent YOY Increase in Loan Volume
United Wholesale Mortgage (UWM) has recorded a 52 percent year-over-year increase in loan volume, according to third quarter numbers published by Inside Mortgage Finance. That impressive surge in production was the fastest of any top 40... Read more
Sen. Sherrod Brown (D-OH), the ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, has published a 36-page report criticizing how Mick Mulvaney has run the Consumer Financial Protection Bureau
Dem Report Slams Mulvaney’s CFPB Role
Sen. Sherrod Brown (D-OH), the ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, has published a 36-page report criticizing how Mick Mulvaney has run the Consumer Financial Protection Bureau (CFPB) during... Read more