Are mortgage lenders maxed out? MBA survey shows refinances remain at 3-year high
Do mortgage lenders have their hands full right now thanks to the recent surge in refinances? It looks like that may be the case, as new data from the Mortgage Bankers Association shows that refinances remained at three-year highs in the last week. According to the MBA report, approximately 63% of all the mortgage applications received in the last week were for refinances, the highest the refinance share has been in almost three years.
Douglas Elliman launches in Texas
Douglas Elliman Real Estate, the top brokerage in the New York metro area, is expanding into Texas. On Tuesday, the brokerage announced a joint venture with Sudhoff, a company based in Houston that specializes in luxury high-rise condominiums. Jacob Sudhoff, president of Sudhoff, was named chief executive officer of Douglas Elliman, Texas.
New York Fed names Lacey Dingman as chief human resources officer
On September 16, Lacey Dingman will join the Federal Reserve Bank of New York as executive vice president, head of the human resources group and chief human resources officer. Formerly a senior leader at the Securities and Exchange Commission and most recently a senior associate director at the Federal Reserve Board, Dingman brings more than 20 years of experience in the public sector to the role.
Fitch: No clear LIBOR transition for U.S. lenders
The London Interbank Offered Rate is set to expire at the end of this 2021, and U.S. lenders are still unclear on what short-term interest rate benchmark they will transition to. The LIBOR transition could present logistical challenges especially for legacy transactions that represent a significant portion of outstanding issuance.
Gateway First Bank selects Black Knight
Gateway First Bank has selected Black Knight, Inc.’s Ernst Fee Service. Read on for more details.
Zillow expands its coverage in Canada
Zillow was founded in the U.S. in 2006, and began expanding into Canada just last summer. And now, Zillow is partnering with more than 250 Canadian brokerages and franchisors to expand the Canadian real estate listings on its site.
Digital lender raises an additional 0 million
A digital mortgage lender backed by Kleiner Perkins, Goldman Sachs, and Pinebrook has raised an additional $160 million through a Series C funding, the company announced. Read on to learn what other companies have invested in the mortgage disrupter.
AM Best affirms Investors Title’s ‘excellent’ rating
AM Best has affirmed the financial strength rating and the long-term issuer credit ratings of Investors Title Co.’s subsidiaries Investors Title Insurance Co. and National Investors Title Insurance Co. Read on for more details.
Agents National launches production facility
Agents National Title Insurance Co. (ANTIC) has developed a full service production facility based in Winter Park, Fla., the company announced. Read on for more details.
Prices for new homes dip slightly
Redfin said places that had large declines in new-home sale prices during the second quarter included San Jose, Calif., West Palm Beach, Fla., Honolulu, Miami, San Diego and Los Angeles. Read on for more details.