Ellie Mae’s self-service mortgage platform targets ‘tech-savvy’ borrowers

Ellie Mae is now offering mortgage lenders a consumer direct solution for its Encompass mortgage management platform that can guide homebuyers through a step-by-step application process in less than 15 minutes, giving borrowers greater control and insi…

Demand for purchase mortgages still lagging

Appetite for purchase mortgages stayed flat last week, clocking in well below the same week a year ago as costlier mortgage insurance and tight credit continued to hamper demand. Applications for purchase loans increased a seasonally adjusted 0.3 perce…

Guaranteed Rate revamps agent coaching site, Partner Xchange

Retail mortgage lender Guaranteed Rate has launched a new version of Partner Xchange, a coaching site for real estate professionals, that includes insights and expertise from more than 50 of the nation’s top real estate agents. Partner Xchange says it …

Former BofA short-sale negotiator prison-bound in ‘property flopping’ scheme

A former Bank of America short-sale negotiator has been sentenced to 30 months in prison and ordered to pay $5.7 million in restitution for his role in a fraud scheme in which prosecutors said he accepted bribes to sign off …

Century 21 China Real Estate, Lending Club of China forge alliance

Century 21 China Real Estate, the exclusive franchisor of the Century 21 brand in China, says it’s out to build its mortgage business under an agreement with the Lending Club of China that’s aimed at funneling cash from investors into home …

Lenda invites real estate agents to ‘fire their loan officers’ with ‘TurboTax for mortgage’

Real estate startup Lenda is launching a platform today that will allow borrowers to complete the home loan process online from start to finish without a loan officer as middleman.   Lenda’s platform lets borrowers receive rate quotes from Lenda, apply …

Risk-based standards for private mortgage insurers could restrict lending

Fannie Mae and Freddie Mac’s federal regulator has proposed risk-based capital requirements for private mortgage insurers that homebuyers are required to use when making down payments of less than 20 percent on home purchases financed by mortgages guaranteed by Fannie …

Lack of Fed consensus on future intentions a little unsettling

The big story of the week is the odd combination of saber-rattling by the Fed but falling long-term interest rates, mortgages just above 4 percent. First a rundown on other matters high in the news but ho-hummed in markets. Iraq …

Demand for purchase mortgages down 10 percent from a year ago

Demand for purchase mortgages climbed last week even as rates ticked up slightly and the nation geared up to celebrate Independence Day. While applications for purchase loans during the week ending July 4 were up a seasonally adjusted 4 percent …

Millennials will soon be a force to be reckoned with in housing markets

The U.S. homeownership rate dropped for the ninth year in a row in 2013, thanks in no small part to the fact that millions of 20- and 30-somethings were still living with their parents, according to the latest “State of …