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Planet is the latest mortgage lender to embark on a rebrand

Planet is the latest mortgage lender to embark on a rebrand

Marketing, MARKETING TO BORROWERS, Originations /

Planet Home Lending is the latest mortgage company to rebrand, simplifying its identity to just one word, and coming out with a new logo. Processing Content The new visual image resembles two nearly completed half-circles, with a horizontal line bisecting them. This logo shows its unified capabilities across its four business lines: origination, servicing, sub-servicing, […]

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Home-purchase applications jump as rates settle back

Mortgage Rates, Originations /

US mortgage applications for home purchases increased last week by the most since early January as financing costs continued to ease, a tentative sign that the housing market is grinding forward. Processing Content The Mortgage Bankers Association’s index of home-purchase applications rose 10.1% in the week ended April 17, data from the group showed Wednesday.

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Reverse mortgage clients face growing budget deficits

Home equity loans, LOAN PRODUCTS, Originations, Reverse mortgages /

Seniors are turning to reverse mortgages as they struggle to keep up with the costs of living, a new industry report found. Processing Content More than 21% of reverse mortgage clients entered counseling with a deficit in their monthly budget last year, almost double the 12.2% of clients in 2024, according to GreenPath Financial Wellness,

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Home sales soared in March before rates climbed back up

Home Prices, Housing Inventory, Housing markets, Originations /

With mortgage rates at their lowest March level in years, home sales surged last month, new industry data shows. Processing Content March home sales increased 31.6% from February, the largest month-over-month jump since 37.4% in 2023, according to Remax’s latest national housing report. Sales were up 3.4% compared to last year. “March’s increase in sales

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Pending home sales climbed in March on improving supply

Housing markets, Originations /

Pending sales of previously owned US homes climbed for a second month in March as a pickup in inventory helped mitigate higher borrowing costs. Processing Content An index of contract signings increased by 1.5% to a four-month high of 73.7, according to National Association of Realtors data released Tuesday. The median forecast of economists surveyed

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VA mortgage survey reveals gaps in benefit awareness

Distressed, LOAN PRODUCTS, Marketing, Originations, The VA, Underwriting /

The Veterans Affairs mortgage benefit got high marks in a survey of current and past military members, but more than half still have at a minimum one misconception about the program. Processing Content NewDay USA, which specializes in serving this community, commissioned the online survey of 1,238 people conducted by Researchscape between Feb. 18 and

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Second-home volume shrinks from pandemic-era highs

Housing markets, Industry News, NAHB, Originations /

Second-home purchases in the U.S. show signs of pulling back in the years after their pandemic peak, with more than half of national volume currently concentrated in eight states.   Processing Content In 2024, the total number of second homes came in at 6.2 million, representing 4.3% of total housing stock, according to an analysis of

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Lock-in effect drives home renovation boom, Redfin says

Home equity loans, Housing Inventory, Housing markets, Industry News, Originations /

With mortgage rates still hovering above 6% and far greater than those seen during the pandemic, homeowners are choosing to renovate their homes rather than move. Processing Content About 43% of Americans upgraded their homes last year, and 33% plan to remodel in the next year, according to a recent survey from Redfin that was

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CMG Mortgage sued for raiding lenders’ Arizona branches

Law and legal issues, Originations /

A Utah lender is suing CMG Mortgage for allegedly surreptitiously raiding two of its Phoenix-area branches. Processing Content SecurityNational Mortgage Co. sued the larger competitor last month in an Arizona state court, and CMG elevated the case to a federal forum this week. The complaint identifies both SNMC and CMG employees purportedly involved in the

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Regulator: Bank misled veterans on VA loan refinances

Law and legal issues, Mortgages, Originations, Regulation and compliance, The VA /

Federal officials are ordering a community bank and national mortgage lender to investigate and take corrective action over alleged misconduct that targeted Department of Veterans Affairs borrowers.  Processing Content In a consent order filed in early April, the Office of the Comptroller of the Currency accused The Federal Savings Bank, a Chicago-based depository institution specializing

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