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Mortgage News Daily

2.5 million homeowners could save $500/month by refinancing: report

Record low mortgage rates equal big refinance savings Mortgage rates have hit record lows nine times this year, and that spells big savings opportunities for homebuyers and refinancers. In fact, refinance rates are low enough that data firm Black Knight estimates 2.5 million people could save $500 or more per month by refinancing. With FHFA’s …

Mortgage News Daily

Have Fannie and Freddie dropped the ball on diversity?

A government report shows that Fannie Mae and Freddie Mac have made insufficient progress when it comes to diversity and inclusion, top lawmakers say. The Government Accountability Office (GAO) recently released a study on the GSEs’ efforts to promote diversity and inclusion and found that they had only slightly increased representation of women and minorities …

Mortgage News Daily

Churchill Mortgage branches out into new Florida markets

Churchill Mortgage has extended its operations in Florida after seeing record growth in loan volume in the first half of the year. To further its growth, the Nashville-based firm has brought its mortgage offerings to top Florida markets, including Jacksonville, Orlando, and Tampa. Churchill has already added 187 new employees and 24 new branches since …

Mortgage News Daily

Reggora partners with GoodData for enhanced appraisal data management

Reggora has announced that it has partnered with GoodData, an analytics management company, to help mortgage lenders become more strategic in their appraisal workflows. Reggora and GoodData teamed up to automate the process of consolidating and analyzing residential appraisal reports. Through the partnership, lenders will be able to explore their data using a simple drag-and-drop …

Mortgage News Daily

Surge in mortgage originations boosts title premiums

A surge in mortgage lending – which drove origination volume to nearly $1.1 trillion – drove an 8% increase in title insurance premiums in Q2 2020. The title insurance industry yielded $4.18 billion in premiums during the second quarter, up 8% from a year ago, according to ALTA’s latest Market Share Analysis. “Despite the pandemic, …

Mortgage News Daily

Flagstar Bank appoints COO as president of mortgage

Flagstar Bank has appointed company veteran Lee Smith as head of its mortgage division. Smith has served as executive vice president and chief operating officer at Flagstar since 2013. For the past seven years, he led several key business units, including mortgage servicing. Smith also oversaw the company’s strategy, balance sheet, cost optimization, mergers, and …

Mortgage News Daily

ClosingCorp integrates with OpenClose’s mortgage POS and LOS platforms

ClosingCorp has announced a partnership with OpenClose that would bolster its digital lending experience. The companies announced the integration of ClosingCorp’s automated fee services with OpenClose’s consolidated loan origination (LOS) and digital mortgage point-of-sale (POS) platforms, LenderAssist and ConsumerAssist. OpenClose users can now instantly access and provide real-time, third-party provider rates and fees to borrowers …

Mortgage News Daily

Refis represented majority of closed loans in August

Refinances accounted for 56% of all closed loans in August, according to the latest Ellie Mae Origination Insight Report. Refis saw a 2% month-over-month gain in August, while the share of purchase originations dropped to 44%. The report also showed that the 30-year note rate on all loans hit a new record-low, plunging from 3.24% …

Mortgage News Daily

Trump vs. Biden: What’s at stake for banks

WASHINGTON — The November presidential and congressional elections will be key to the future of banking policy, and could be the make-or-break factor for partisan issues like pot banking and fine-tuning regulation to focus on racial equity. President Trump’s four years in the White House have been characterized by deregulation, from rolling back Dodd-Frank Act …