The 30-year fixed-rate mortgage dropped below the 7% mark in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). The product averaged 6.95% as of Dec. 14. Last week, was at 7.03%, and one year ago at this time it averaged 6.31%. The...
Two home loan lenders – Georgetown, Texas-based Thrive Mortgage LLC and Columbus, Ohio-based Lower LLC – have announced the merger of their brands, Thrive Mortgage and Lower.com. Thrive CEO Selene Kellam and Randell Gillespie, production head for Thrive Mortgage, will...
Stairs Financial, a start-up mortgage marketplace platform aimed at first-time buyers, has launched with a $3.5 million funding round. Stairs Financial was founded by Malcolm-Wiley Floyd and Scott Fritz, who met as roommates at Harvard. The platform is designed to...
Mortgage application activity was on the rise again, according to data from the Mortgage Bankers Association (MBA) for the week ending Dec. 8. The MBA’s Market Composite Index was up by 7.4% on a seasonally adjusted basis from one week earlier while the unadjusted...
loanDepot Inc. (NYSE: LDI) has released its melloNow underwriting engine, which is designed to provide conditional loan approval in minutes. According to the Irvine, California-based company, melloNow uses a fully digital verification process to evaluate applications,...
Mortgage credit availability declined in November, according to data from the Mortgage Bankers Association (MBA). The trade organization’s Mortgage Credit Availability Index (MCAI) dropped by 1.7% to 96.5 last month; the index was benchmarked to 100 in March 2012. The...
