Patrick Barnard

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Mortgage Rates Lowest Since November 2016

Mortgage rates continued to drop this week, as the average rate for a 30-year, fixed-rate mortgage fell to 3.55%, the lowest since November 2016, according to Freddie Mac’s Primary Mortgage Market Survey. A year ago at this time, the average rate for a 30-year was 4.51%.  The average rate for a 15-year fixed-rate mortgage was 3.03%, down from 3.07%. A …

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LoanScorecard Powering LoanStream Mortgage’s Non-QM PPE

LoanStream Mortgage, a multichannel mortgage lender licensed in more than 30 states, is using LoanScorecard to power its pricing and scenario tool, QualONE, which is used to power its non-QM loan program. The tool enables brokers and correspondents to run loan scenarios and instantly determine the eligibility for various products across LSM’s NanQ ONE programs. In addition, LoanStream is using …

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Low Mortgage Rates Gave Existing-Home Sales a Boost in July

Existing-home sales increased 2.5% in July compared with June, reaching a seasonally adjusted annual rate of 5.42 million, according to the National Association of Realtors (NAR). Year-over-year, sales were up 0.6% compared with July 2018. Regionally, existing-home sales increased 8.3% in the West, 1.8% in the South and 1.6% in the Midwest, month-over-month, but fell 2.9% in the Northeast. NAR …

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Mortgage Applications Dip as Lower Rates Fail to Stimulate Purchases

After increasing the previous two weeks, mortgage application volume dipped 0.9% on an adjusted basis during the week ended Aug. 16, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. The previous week, applications jumped an impressive 21.7%, driven mainly by a 37% increase in applications for refinances that was driven by lower rates. This past week, however, applications …

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ATTOM: Zombie Foreclosures at Half the Level Seen in 2016

About 1.5 million U.S. single-family homes and condos were vacant in the third quarter, representing 1.6% of all homes, according to ATTOM Data Solutions. During the third quarter, more than 304,000 homes were in the process of foreclosure, with about 3.2% being “zombie” foreclosures. While the count of properties in the process of foreclosure is down by nearly 22% since ATTOM’s …

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DocMagic Now Integrated with INTEGRA’s EPIC LOS

DocMagic, a provider of loan document preparation services, reports that its platform is now integrated with INTEGRA Software Systems’ loan origination system (LOS), EPIC. The partnership gives lenders the ability to leverage DocMagic’s end-to-end document production, preparation, delivery and automated compliance service as a fully embedded integration within EPIC. This includes the ability for borrowers to conveniently and compliantly e-sign …

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Mortgage Cadence, CoreLogic Team to Lower the Cost to Originate

Mortgage Cadence, an Accenture company, has integrated CoreLogic’s Print and Ship secure document delivery solution with the latest version of Mortgage Cadence Enterprise Lending Center (ELC). The integration enables ELC users who contract with CoreLogic to reduce manual processes and document delivery barriers. In a release, Bryan Ireton, Accenture’s managing director for Mortgage Cadence, says the functionality delivered via the integration …

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Mortgage Cadence ELC Now Integrated with CoreLogic’s Print and Ship Document Delivery Solution

Mortgage Cadence, an Accenture company, has integrated CoreLogic’s Print and Ship secure document delivery solution with the latest version of Mortgage Cadence Enterprise Lending Center (ELC). The integration enables ELC users who contract with CoreLogic to reduce manual processes and document delivery barriers. In a release, Bryan Ireton, Accenture’s managing director for Mortgage Cadence, says the functionality delivered via the integration …

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