August 15, 2019

Purchase Loans Outpace Refis

first_img Purchase loans are continuing to outpace refinances by a significant margin, according to the Origination Insight Report released by Ellie Mae on Wednesday. Mortgage loans for home purchases accounted for 65 percent of Ellie Mae’s total loan volume in April, while refis only comprised 35 percent. Six months ago, refinances accounted for nearly half of all loans.Time to close also continued to improve for the month, with the average time for all loans hitting just 42 days for April, compared to the 43 days of March and 51 days of January. For refinance loans, time to close was just 41 days, also down from 43 in March.According to Jonathan Corr, President and CEO of Ellie Mae, the across-the-board improvements are a result of the ever-evolving Ellie Mae customer.“The purchase market continued its rise in April, representing 65 percent of total closed loans,” Corr said. “We also saw the time to close loans shrink for the third consecutive month to 42 days, a substantial decrease from the 2017 high of 51 days in January. Ellie Mae customers are realizing efficiencies as they embrace technology to improve the homebuying experience.April also saw the average 30-year mortgage rate rise to 4.41 percent—a jump from 4.39 percent in March and 4.1 percent one year ago. Adjustable rate mortgages rose as well, clocking in at 5.9 percent. April marked the highest point for ARMs since 2014 and a 1.4 percent jump since just 12 months prior.Broken down by loan type, Ellie Mae’s originations largely consisted of conventional loans, which accounted for 63 percent of April’s loan volume. FHA came in second, with 23 percent, while VA loans comprised just 10 percent of all loans. Though conventional loans have dipped slightly over the year, the numbers remain fairly steady.Across all loan types, Ellie Mae’s April borrowers had an average FICO score of 722 and a debt-to-income ratio of 25 to 39.The Origination Insight Report is based on data from 80 percent of all mortgage applications initiated within its Encompass technology solution. View the full data set at May 17, 2017 717 Views in Daily Dose, Headlines, Market Studies, News Purchase Loans Outpace Refiscenter_img Ellie Mae HOUSING mortgage Purchase Loans Refinance Loans 2017-05-17 Aly J. Yale Sharelast_img read more

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Major Markets Pricing Out MiddleClass Buyers

first_img June 1, 2017 546 Views Major Markets Pricing Out Middle-Class Buyers Affordability African American Hispanic minority buyers; housing affordability Redfin 2017-06-01 ScottMorgan1 Since 2012, homebuyers earning median salaries in the 30 largest metros in the United States have been finding themselves increasingly priced out of their markets. But the affordability gap for middle-class households has been especially rough on Hispanic and African-American buyers, according to a new study by Redfin.Redfin’s report states that in 2016, Hispanic families could afford 18 percent of homes for sale in the 30 largest U.S. metros, while African-American families could afford 14 percent. Both rates were down 11 percentage points from 2012.Meanwhile, while middle-class white families saw a 12 percent affordability drop over the same time period, white households earning median incomes could afford 30 percent of the houses in those same markets last year, Redfin reported.Independent of ethnicity, housing affordability for middle-class families overall dropped 12 percent between 2012 and 2016. According to Redfin, the gulf has been growing as an offshoot of the fact that while national incomes have risen 2 percent since 2012, national housing prices have risen 26 percent. Nearly half the houses for sale in the 30 largest metros were affordable to median earners in 2012; less than a third were affordable to them last year.Affordability issues for Hispanic and African-American buyers has been particularly pronounced in the West, Redfin reported. In fact, these buyers have been all but effectively priced out of the market in Denver, Los Angeles, Portland, San Francisco, San Diego and Phoenix, where fewer than 5 percent of homes for sale were affordable to Hispanic and African-American buyers last year.While Denver had the smallest number of homes available to minority buyers last year (2 percent), the city also was  home to the smallest racial gap in housing affordability‒‒middle-class whites could afford 8.3 percent of homes.On the other side of that coin was Minneapolis, where 66 percent of median-earning whites could afford homes while Hispanic families could afford about 25 percent and African-American families could afford just over 5 percent.Las Vegas had the largest declines in affordability for families making the median African American (-26.5 points) or Hispanic (-24.6 points) household incomes from 2012 to 2016. Meanwhile, metros known for their relative affordability, like Atlanta, Tampa and Kansas City, saw double-digit declines in the share of listings that were affordable on African American and Hispanic median incomes, Redfin reported.St. Louis was the only metro that saw increases in affordability for both Hispanic ( up 5.4 points) and African-American families (up 4.3 points). St. Louis was also the only metro where overall middle-class affordability, including for median-income white households, did not change significantly over this time period.“American cities are at risk of losing both the economic and racial diversity that has been their hallmark,” said Redfin chief economist Nela Richardson. “Middle-class homebuyers are being priced out of America’s largest cities at an alarming rate, as the home affordability gap gets wider. Given the significantly lower rates of homeownership among African-American and Hispanic families, the reduction in affordable listings has even more dire consequences for income inequality when broken out by race.”But, Richardson added, there are solutions.“For one, federal and state governments can do much more to be influential in local housing policy,” she said. “That’s where the crisis starts–at the neighborhood level–when people vote against inclusionary zoning policies, making it difficult or impossible to build higher-density, affordable housing in a community. Federal and state governments can reward communities that change to inclusionary zoning practices by offering them infrastructure investments to improve the neighborhoods. That way, inclusionary zoning is more appealing to longtime residents.”center_img Share in Daily Dose, Newslast_img read more

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IPsoft Introduces AI Platform Amelia

first_img in Headlines, Media, News, Technology 1Bank Amelia Christopher Voce Daniel Hong Forrester Research IPsoft J.P. Gownder Jennifer Wise Lily Varon 2018-11-21 Donna Joseph IPsoft announced the general availability of 1Bank™, its first conversational banking solution, powered by an advanced AI in the market, Amelia. With Amelia, customers can engage with their financial institutions through a next-generational Natural Language Interface (NLI) either by voice or chat. Through 1Bank, Amelia helps resolve complex customer questions using comprehensive dialogue. For example: “How much can I afford to pay for a new home?” Instead of providing a simple answer, Amelia will follow up with important questions, such as: “What is your annual salary?” or “How much of a down-payment would you like to make?”“Customers no longer have to navigate a site, wait in long queues or scroll through endless account statements. With 1Bank, customers can get what they want in a natural way, a conversation. We are enabling any financial institution to provide their customers with their own personal banker around the clock, every day and minute,” said Chetan Dube, CEO at IPsoft.“Customer support and self-service, when done right, can drive higher customer satisfaction. IPsoft’s Amelia supports a variety of customer-facing scenarios with its natural language interface and artificial intelligence engine. Amelia can take the entirety of a conversation into account. At a recent event, IPsoft showed the solution it has deployed to a major European bank, which is using Amelia as a mortgage-qualifying engine,” Forrester, a global research and advisory firm, commented. J.P. Gownder, Christopher Voce, Lily Varon, Jennifer Wise, Daniel Hong, Automation Technologies for Customer Engagement, Forrester Research, Inc., July 2017. Amelia also is adept at offering customers the ability to switch contexts mid-conversation. For example, if a customer is applying for a new credit card, but realizes mid-way through the conversation that they want to use a different email address, they can go back and change addresses without beginning the whole process over. Rule-based chatbot and static Web interfaces are built around simple keyword recognition, but Amelia is able to discern human intentions from a wide spectrum of conversational inputs — everything from “How much money is in my checking account?” to “How much is in checking?” to “So, how much money do I have?” Furthermore, Amelia’s advanced Machine Learning (ML) ability enables her to improve over time. Conversations may be escalated to human agents in cases where when Amelia is not able to assist customers and silently observe the interaction in the background in order to add to her abilities.1Bank’s secure backend integrations with banks’ existing software and systems empower users to execute financial tasks with limited-to-no human intervention. The AI solution delivers out-of-the-box conversational banking skills, including wealth management, credit card processing, account management, payment processing, account origination, and balance checks. 1Bank can be easily added to popular banking channels, including mobile apps, kiosk apps, websites, consumer chat applications such as Facebook Messenger and, voice applications such as Amazon Echo as well as standard phone calls. Share November 21, 2018 904 Views IPsoft Introduces AI Platform Amelialast_img read more

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Lender Price Partners With Mountain West Financial

first_imgLender Price Partners With Mountain West Financial in Headlines, News, Technology Lender Price, the California-based provider of digital lending technology and Mountain West Financial, a southern California-based mortgage lender have announced the successful rollout of Digital Lending Platform (DLP), Lender Price’s online borrower portal for Mountain West Financial.Lender Price said that DLP is a robust borrower engagement platform that automates and streamlines the mortgage loan application process. The platform integrates with loan origination systems (LOS) to create a seamless environment between the borrower, loan officer, and the lender’s operation staff, resulting in a smoother, more transparent, and faster mortgage closing process.”Our borrowers want a convenient and easy to use way to engage with us online,” said Mike Douglas, CEO of Mountain West Financial. “The reason we chose Lender Price is because their platform gave us the flexibility to create a process that doesn’t have a lot of ‘fluff’. We built an efficient workflow that encourages borrowers to complete the application while also ensuring that information was captured in our LOS in real-time.”DLP features digital verification services for assets, employment and credit reports, which intelligently fill out loan application data and drive more complete and accurate borrower submissions. DLP provides intuitive tools that allow mortgage lending institutions to create their own borrower experience without any technical know-how.”Our clients include several large banks and mortgage lenders that insist on controlling the borrower experience,” said Dawar Alimi, CEO of Lender Price. “We built tools that are specifically designed for non-technical people to create complex workflows within DLP. By giving our clients both the flexibility and control they want, we’re providing a sustainable platform because it can change and adapt to their needs over time.”The deep integration between DLP and Mountain West’s loan origination system provides borrowers visibility throughout the entire origination process. Loan status updates, document uploads, and even pricing engine access were built into the LOS integration. “Our borrowers are happier and it’s a tremendous time saver for our loan officers,” said Douglas. “We’ve rolled out to more than 150 loan officers across 30 branches and it’s been extremely successful for us. We know this is going to transform the way we do business.” April 11, 2019 797 Views center_img Borrowers lender price Lenders loans LOS Mountain West Financial platform 2019-04-11 Radhika Ojha Sharelast_img read more

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August 12, 2019

Last week seven agents travelled with Busabout th

first_imgLast week, seven agents travelled with Busabout through Thailand on a round trip from Bangkok through Khao Sok, Phuket, Koh Lanta and Ao Nang. The lucky agents had been asked to sell at least three Europe or USA Hop-on Hop-off passes, Asia trips or Small Group Adventures to qualify.The top regional sales manager, top sales manager as well as five wild card entrants were treated to a Busabout trip that started with a stay along Cheow Larn Lake in a river bungalow. The agents enjoyed a visit to an ethical elephant sanctuary in Shao Sok, undertook a spot of Island Hopping through the incredible Thai Islands of Koh Lanta and Krabi along with an array of amazing adventures along the way. Busaboutfamillast_img

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August 11, 2019

What an MLB source said about the Dbacks trade h

first_img What an MLB source said about the D-backs’ trade haul for Greinke D-backs president Derrick Hall: Franchise ‘still focused on Arizona’ Comments   Share   Top Stories Then the Cardinals defense, who played well all day, extinguished anyhopefor the 49ers. Arizona’s stout defense, led by defensive end Calais Campbell, held SanFrancisco to just 78 yards of offense in the 2nd half. After Roberts’ go-ahead touchdown, the Cardinals held San Francisco without a first downintheir final three possessions.Player of the Game: Could it be anyone other than LarryFitzgerald? The Cardinals’ all-everything receiver did a little bit ofeverything on Sunday.Fitzgerald finished with 7 catches for a season-high 149 yards and atouchdown. His touchdown catch was a thing of beauty, as went up towrestle it away from San Francisco’s Dashon Goldson came down, andoutraced the 49ers defense to the end zone.On Early Doucet’s 60-yard touchdown catch in the 2nd quarter, it wasFitzgerald who laid out 49ers’ DB Tarell Brown, freeing Doucet for hisdash to the house.And then, on the Cardinals’ clinching touchdown drive, Fitzgerald caughta pass over the middle from John Skelton, spun away from threedefenders and turned the play into a 53-yard gain all the way down tothe San Francisco 20-yard line. Four plays later, Skelton hit Roberts withthe go-ahead touchdown pass.center_img Nevada officials reach out to D-backs on potential relocation John Skelton has had some success as a starter this season, and now he’shad some success as a reliever as well.The 2nd-year man from Fordham relieved injured starter Kevin Kolb,threwthree touchdown passes and got a lot of help from his defense in a 21-19win over the San Francisco 49ers at University of Phoenix Stadium.The clinching score came with just under 12 minutes to play whenSkeltonfound Andre Roberts on a 3-yard scoring strike. Cardinals expect improving Murphy to contribute right awaylast_img read more

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As the Arizona Cardinals head into their final pre

first_imgAs the Arizona Cardinals head into their final preseason game, they do so with a few position battles still yet unresolved. We are looking at what is left to be determined, including the defensive secondary.While Patrick Peterson, Adrian Wilson, Kerry Rhodes, William Gay and Jamel Fleming are all safe, there are still quite a few players battling for even fewer spots. The group includes veterans as well as youth, all of whom may need a good performance Thursday against Denver to make the 53-man roster. Comments   Share   Michael AdamsThe diminutive Adams is a veteran and an asset on special teams, though at 5-foot-8 sometimes struggles to matchup with opposing wideouts. He’s not going to get any taller, and at this point he is what he is. Will that be enough to secure a roster spot? Probably.Rashad JohnsonA third-round pick in the 2009 Draft out of Alabama, Johnson’s career has been underwhelming thus far. The 26-year-old’s play picked up last season, when he posted a career-best 50 tackles, but increased depth at the position could make him expendable.A.J. JeffersonPlenty can change in a year. Nevada officials reach out to D-backs on potential relocation Top Stories center_img D-backs president Derrick Hall: Franchise ‘still focused on Arizona’ What an MLB source said about the D-backs’ trade haul for Greinke Cardinals expect improving Murphy to contribute right awaylast_img read more

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The 5 Takeaways from the Coyotes introduction of

first_img The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo Comments   Share   And as far as former NFL player and current NFL Network analyst LaDanian Tomlinson is concerned, the Palmer to Fitz duo is the best new one formed this past offseason.“You think about what Larry did last year with who’s who of quarterbacks,” LT said, noting his stats. “You take on top of that, you look at what Carson Palmer did in Oakland. Still 4,000 yards passing, 61 percent completion percentage, that’s very productive.”Tomlinson added that combined with new coach Bruce Arians, who has a reputation for getting the most out of his offenses, and you have the recipe for a dynamic combination. “I think they’re going to have a big year together,” he said. The Cardinals and their fans can only hope. – / 36 Grace expects Greinke trade to have emotional impact Larry Fitzgerald has caught 77 touchdown passes in his career, with more than half (39) coming from Kurt Warner.In total, he has been on the receiving end of touchdown passes by 11 different passers, some of whom (John Navarre, Richard Bartel, Brian St. Pierre, Max Hall) were never really heard from again. Odds are Carson Palmer will be quarterback number 12 on the list, as Arizona’s new signal caller is expected to stabilize the position and hopefully give the Cardinals a QB/WR combination similar to when No. 13 was under center.center_img Former Cardinals kicker Phil Dawson retires Derrick Hall satisfied with D-backs’ buying and selling Top Stories last_img read more

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– 15

first_img – / 15 Of course, that means getting back on the field, which is probably more of a concern than his contract given that Mathieu is signed through the 2016 season. Surgery to repair the tear has been done and the safety was walking with the help of crutches over the last couple of weeks since.“I think the next step is getting off the crutches and taking that first step, and from there it’s really downhill from there,” he said of where he goes next. “So once I get off the crutches things will kind of pick up for me. It will get tougher, it will get more difficult, but that’s part of it.”It helps, Mathieu said, that he’s been through this before. He said he rushed through the rehab the first time and did not quite come back the player he wanted to.“So for me, it’s really just take my time with this so that I can come back 100 percent and not have one of those 2014 seasons,” he said.What does that mean for a target date?“I haven’t got a target date yet,” Mathieu said, before smiling and laughing. “Carson came (back by) OTAs so I figure I’m 10, 12 years younger than him, so hopefully I can make it around that time too.” Former Cardinals kicker Phil Dawson retires Arizona Cardinals free safety Tyrann Mathieu cleans out his locker, Monday, Jan. 25, 2016, in Tempe, Ariz. The Cardinals lost to the Carolina Panthers in the NFC Championship football game to end their season. (AP Photo/Matt York) Grace expects Greinke trade to have emotional impact TEMPE, Ariz. — It did not take very long for Tyrann Mathieu to make his mark on the Arizona Cardinals.A third-round pick in the 2013 draft out of LSU, he quickly became one of the most dynamic and dominant players on the defense.As a rookie, he notched 63 total tackles along with one sack, two interceptions and 15 passes defensed in 13 games before suffering a torn ACL and LCL.In his second season, Mathieu’s quick recovery allowed him to be active for the team’s second game of the season, and he went on to appear in 13 games, tallying 39 total tackles, one interception and five passes defensed. Comments   Share   center_img Cardinals general manager Steve Keim, when asked by Doug and Wolf on Arizona Sports 98.7 FM Monday about whether or not the team’s secondary is a strength, weakness or average part of the team, began his answer by talking about Mathieu.“When we lost Ty I think it’s hard to replace someone like him because of his positional flexibility and everything he does on the back end,” he said. “Whether it’s blitzing off the slot, whether it’s playing the nickle or playing the deep pass, he does so many things for you and his coverage is obviously exceptional.”Mathieu is listed as a safety, but plays slot cornerback and is also effective in the box as a blitzer or in run support.In terms of how much money Mathieu figures to make, there’s a good chance his extension will leave him among the highest paid safeties in the NFL. However, according to the player, that does not matter much to him.“It’s a blessing, but I don’t play for money so it doesn’t really matter to me,” he said. “Like, it doesn’t really matter to me. It’s not going to distract me or deter me from my main goal, which is to continue to get better, continue to be a leader; just trying to make this team the best team in the NFL.” He was admittedly not himself that season, though, and believed he would be back to his normal self the following season.Mathieu was right.This past season, the “Honey Badger” was in top form, finishing with 89 total tackles, one sack, five interceptions and 17 passes defensed. He had put himself in the conversation for the NFL Defensive Player of the Year Award, and was a big reason as to why the Cardinals had one of the best defenses in the league.Unfortunately, he tore an ACL in the team’s Week 15 win over the Philadelphia Eagles while making an interception, cutting yet another season short. However, despite his injury history and because of his effectiveness and leadership, the team appears set on trying to lock Mathieu up with a long-term contract this offseason.For his part, Mathieu is perfectly fine with the idea.“That’s very encouraging,” he said. “Obviously I love this team, I love our locker room, I love our coaching staff, upper management.“I think this is the perfect place for me so I wouldn’t mind spending the rest of my life here.”The idea that the team would want to keep Mathieu around for the long haul is not at all surprising or unwarranted. Though he entered the league with a checkered past, he has been a model citizen and someone head coach Bruce Arians has proclaimed to be his favorite draft pick. The 23-year-old has become one of the faces of the franchise, and his level of importance was magnified when he was no longer able to play. Derrick Hall satisfied with D-backs’ buying and selling Top Stories The 5: Takeaways from the Coyotes’ introduction of Alex Meruelolast_img read more

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Derrick Hall satisfied with Dbacks buying and se

first_img Derrick Hall satisfied with D-backs’ buying and selling Former Cardinals kicker Phil Dawson retires Carson Palmer had a sensational season and he was awarded for it by being named the FedEx Air Player of the Year.Palmer threw for 4,671 yards this season and 35 touchdowns, both franchise records. His 104.6 passer rating was third in the NFL and also set a new franchise record.The Cardinals set a franchise record for points, touchdowns, wins, first downs, total yards, games scoring 30+ points and games won by 10+ points, all of which would not have been possible without the play of Palmer. Adrian Peterson was named the FedEx Ground Player of the YearThe finalists alongside Palmer were Tom Brady of the New England Patriots and Drew Brees of the New Orleans Saints.FedEx is donating $25,000 to each winner’s local market of the American Red Cross.Previous winners of the award include Aaron Rodgers of the Green Bay Packers in 2014 and Peyton Manning of the Denver Broncos in 2013. Top Stories The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo Comments   Share   Grace expects Greinke trade to have emotional impact Arizona Cardinals quarterback Carson Palmer (3) calls a play against the Seattle Seahawks during the first half of an NFL football game, Sunday, Jan. 3, 2016, in Glendale, Ariz. (AP Photo/Ross D. Franklin)last_img read more

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