Articles by Alcynna Lloyd

Housing industry embraces fintech to drive down mortgage closing times

Homebuyers are closing on their home loans 11 days faster than they were in 2018
As financial technology continues to take the mortgage industry by storm, LendingTree indicates homebuyers are now taking a considerably shorter time to close on their home loans. According to the company’s recent analysis, homebuyers are now getting into their homes 11 days faster than they were in 2018. And what's driving those closing times down? Technology, of course.
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Guaranteed Rate appoints new chief financial officer

Prior to joining the company, Suk Shah served Avant as its CFO
In a move to increase its revenue growth, retail mortgage lender Guaranteed Rate recently hired Suk Shah as the company’s new chief financial officer. In his new role as CFO, Shah will be responsible for overseeing Guaranteed Rate’s profitability and efficiently, all while supporting the company’s growth efforts.
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Walker & Dunlop hires new SVP to manage property sales in Central Florida

Sean Williams to oversee the origination of multifamily property sales in Tampa
Walker & Dunlop, a commercial real estate company, recently hired Sean Williams as senior vice president and managing director of its investment sales team. In his new role as SVP, Williams will be responsible for originating multifamily property sales for the company’s institutional and private clients throughout the Tampa, Florida region.
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Calyx appoints new national sales consultant

Robert Shumake has nearly 20 years of sales experience in the fintech industry
Calyx recently appointed Robert Shumake as its new national sales consultant. As such, Shumake will be responsible for developing sales strategies for the company’s cloud-based digital loan origination system, Calyx Path. Calyx Director of Marketing Patrice Power said Shumake's extensive experience in the mortgage and technology space means he truly understands customer challenges and how to best address them.
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Freddie Mac: Mortgage rates stabilize as U.S. markets respond to improving economic conditions

This week, the 30-year, fixed-rate mortgage averaged 3.75%
This week, the 30-year, fixed-rate mortgage averaged 3.75%, holding steady from the previous week, according to the Freddie Mac Primary Mortgage Market Survey. Once again, the rate remains significantly lower than the same time period in 2018 when it averaged 4.52%. Freddie Mac Chief Economist Sam Khater said while rates have moderated, we’re still at near three-year lows, which is good news for buyers looking to purchase a home before school starts.
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Housing News Podcast: Princeton Mortgage’s Rich Weidel on why taking the right risks is key to surviving in the mortgage industry

Listen to this week's latest episode
Each week, HousingWire interviews financial services experts who can help make sense of the latest headlines, sponsored by our partners at Blend. This week, Rich Weidel, the CEO of Princeton Mortgage, explains why accessing loan origination risks is essential to staying afloat in the mortgage industry. Additionally, Weidel touches base on the Chapter 11 bankruptcy filing of Stearns Holding and the U.S. closing of real estate company Purplebricks.
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Homebuyers, you could have saved $56,826 by shopping around for a mortgage last week

Last week, the share of borrowers who received rates under 4.25% rose to 60.1%
Mortgage borrowers who shopped around last week could’ve saved $56,826 on the life of a $300,000 loan, according to LendingTree's Mortgage Rate Competition Index. According to the company’s data, the share of borrowers who received rates under 4.25% rose to 60.1%.
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Redfin: Nation's home buying competition eases as bidding wars cool in June

Only 12% of purchasing offers made on Redfin's site faced a bidding war
As the nation’s home listings begin to stay on the market longer, new data from Redfin suggests purchasing competition is easing in nearly every metro across the country. According to the company, only 12% of purchasing offers made on its site faced a bidding war in June. Not only is this a strong decline from last year’s rate of 52%, but it also highlights a significant slowdown in competition.
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MBA: Mortgage applications continue to fall as borrowers become less sensitive to lower rates

The Market Composite Index slides 2.4% from last week
Mortgage applications declined 2.4% from last week, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending July 5, 2018. The MBA pointed out that last week included an adjustment for the Fourth of July holiday. On an unadjusted basis, the index decreased a whopping 22% from last week.
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