Patrick Barnard

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Mortgage Rates Mostly Flat

Mortgage rates held steady during the week ended June 13, with the average rate for a 30-year fixed rate mortgage holding at 3.82%, according to Freddie Mac’s Primary Mortgage Market Survey. A year ago at this time, the average rate for a 30-year was 4.62%.  The average rate for a 15-year fixed rate mortgage was 3.26%, down from 3.28% the …

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Hometown Lenders Using ReverseVision For Launch of HECM Lending Division

Hometown Lenders, a Huntsville, Alabama-based, multi-channel mortgage lender with more than 80 branches across 38 states, is using ReverseVision’s RV Exchange (RVX) loan origination system (LOS) and ReverseVision Sales Accelerator (RVSA), for the launch of its new reverse mortgage program. David Weinstein, a mortgage industry veteran who was recently tapped by Hometown Lenders as national HECM manager, explains that the bank’s vision …

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MBA: Applications for New Home Purchases Jumped 20% in May

Applications for mortgages for new home purchases increased 20.1% in May compared with April and were up 0.1% compared with May 2018, according to the Mortgage Bankers Association’s (MBA) Builder Application Survey (BAS), which tracks application volume from mortgage subsidiaries of home builders across the country.  The change does not include any adjustment for typical seasonal patterns. “Purchase activity strengthened …

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First American Hires Paul Bandiera as VP of Information Technology Strategy

Paul Bandiera recently joined First American Title Insurance Co. as vice president of information technology strategy. Bandiera previously served as president of a large title and escrow software company and brings 18 years of experience leading retail title and settlement software applications, as well as corporate strategy for a national title insurer. Earlier in his career, Bandiera earned a reputation …

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Report Shows Where Closing Costs Are Highest

Where were closing costs highest in 2018? According to ClosingCorp, which collects and analyzes such data, states with the highest average closing costs for the year, including taxes, included the District of Columbia ($24,613), New York ($13,581), Delaware ($13,309), Washington ($12,667) and Maryland ($11,395). States with the lowest closing costs, including taxes, included Missouri ($1,887), Indiana ($2,002), South Dakota ($2,149), …

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Falling Mortgage Rates Lead to Surge in Refinance Activity

Thanks to a huge jump in refinance volume, driven by falling rates, total mortgage application volume increased an impressive 26.8% on an adjusted basis during the week ended June 7, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. The MBA notes that it made adjustments for the Memorial Day holiday, which fell during the previous week. Applications for …

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Waterstone Mortgage Promotes Stephanie Ziebell to SVP and General Counsel

Stephanie Ziebell has been promoted to senior vice president and general counsel at national mortgage lender Waterstone Mortgage Corp. Ziebell has been with Waterstone Mortgage since 2012, when she started as assistant general counsel. Since then, she has completed the research needed to expand Waterstone Mortgage’s lending footprint from approximately 13 to 48 states, plus the District of Columbia. Ziebell …

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Volly Launches New Mobile POS, Revamps its Mobile CRM Application

Volly, a provider of CRM, marketing automation, marketing store and POS solutions for banks and mortgage companies, has launched a new mobile point-of-sale (POS) application and has rebranded its existing CRM mobile app. The new mobile POS application gives loan officers the ability to invite borrowers to apply or get prequalified from anywhere, anytime, whether at an open house with …

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