Sagent, a King of Prussia, Pennsylvania-headquartered fintech software company focused on mortgage servicing for banks and lenders, has opened a non-U.S. headquarters in Chennai, India. The new 18,367 square-foot facility will employ more than 120 individuals. Sagent...
Republic First Bancorp, Inc. (NASDAQ: FRBK), the Philadelphia-headquartered holding company for Republic First Bank d/b/a Republic Bank, announced it is shutting down its mortgage origination business. “Republic Bank will exit its legacy mortgage origination...
The New York State Assembly now considering a bill that would raise the minimum borrower age for a reverse mortgage customer from 60 to 62. Reverse Mortgage Daily reported that State Assembly Bill A5877 would also make additional changes to the state’s reverse...
The 30-year fixed-rate mortgage averaged 6.39% of today, according to new data from Freddie Mac (OTCQB:FMCC). This rate is down from last week when it averaged 6.43%. A year ago at this time, the rate 5.27%. The 15-year fixed-rate mortgage averaged 5.76%, up from last...
Fewer prospective homebuyers were on the hunt for home loans last week while jumbo mortgages fell out of favor with many lenders, according to the Mortgage Bankers Association (MBA). The trade group’s Market Composite Index was down by 1.2% on a seasonally adjusted...
A coalition of fiscal officers from 27 state governments called President Joe Biden and Federal Housing Finance Agency (FHFA) Director Sandra L. Thompson to jettison the new mortgage fee increases that went into effect today. In a letter to Biden and Thompson, the...
