MortgageDaily.com - Mortgage News Headlines


    Loan Origination Systems Enhanced, Adopted
    Enhancements to a loan origination system have thrust a technology provider into the fastest-growing club. One LOS developer has integrated the services of two mortgage insurance companies, and two have scored new clients.

    LOS provider Ellie Mae Inc. reported last month that it was named to Deloitte's Technology Fast 500. The achievement was due to 180 percent revenue growth from 2013 to 2016.

    Increased adoption of the Pleasanton, California-based firm's services and enhancements to it Encompass product was behind the revenue growth, according to Ellie Mae President and Chief Executive Officer Jonathan Corr.




    15-Month High for Ginnie's HMBS Issuance
    Although overa1l issuance eased at the Government National Mortgage Association, issuance of reverse mortgage securities was the highest it's been in 15 months.As of Nov. 30, there were $1.9036 trillion in outstanding mortgage-backed securities at Ginnie Mae, according to monthly operational data released Monday.

    The Washington-based organization's book of business continued to grow from $1.8941 trillion one month earlier and $1.7506 trillion one year earlier.




    New American Funding Among Best OC Employers
    In Orange County, California, New American Funding was recognized as one of the best employers. The company's chief executive officer talked about their success.

    The Orange County Register has ranked the Tustin, California-based mortgage-banking firm at No. 2 in its annual Top Workplaces survey. It's the sixth time on the list.

    Of the approximately 2,600 people on New American's national payroll, more than 800 employees are located in the Southern California county.




    Weekly Mortgage Business Strengthens, Gov Leads
    New mortgage activity turned sharply higher last week. While government-backed programs had the largest gains, rate-term refinance business reached a 10-month high.

    The U.S. Mortgage Market Index from Mortgage Daily, an indicator of upcoming loan originations based on rate-lock activity at OpenClose, was 158 in the week ended Dec. 8.

    A 15 percent improvement was recorded versus the preceding seven-day period. There are no adjustments made to the index for seasonal factors.




    Service Providers Help With Mortgage Compliance
    A regulator is helping lenders prepare for upcoming changes to Home Mortgage Disclosure Act reporting. Two mortgage firms are utilizing service providers to help them with quality control.

    The Consumer Finance Protection Bureau said last month that the beta launch of its HMDA Platform will give home lenders an opportunity to become familiar with it before going live in 2018.

    According to the bureau, the beta version will enable financial institutions to establish test log-in credentials, upload sample HMDA files and perform validation on their data.