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It’s Fed decision day today and another 75-basis point rate hike is expected. Mortgage rates have surged to 14-year highs, deterring both buyers and builders, who have begun making the shift to apartments. ArchMI released its quarterly Housing and Mortgage Market Review, which said that rates aren’t expected to return to the sub-3 percent, or sub-4 percent, range any time soon. Existing home sales have declined sharply to sit nearly 30 percent below the January 2021 pandemic peak of 6.65 million and about 10 percent below the 2019 average of 5.24 million. Over the past year, home...

Polly extended its existing API portfolio to better accommodate lenders amid a contracting mortgage environment. 

Between extensive credit checks, employment verification, deep dives into financials, and all the other lengthy procedures and checks that go into a home loan, a great POS and LOS integration will be able to add value by easing the borrower through the process of submitting required information as quickly and simply as possible.

Polly, a leading provider of innovative SaaS technology for the mortgage capital markets space, today announced its integration with the six primary mortgage insurance providers: Arch MI, Enact, Essent, MGIC, National MI, and Radian. These staple integrations come highly requested, not only by the mortgage originators that have contributed to the rapid...

Black Knight says the steep ascent of mortgage rates, the 30-year conforming jumped 63 basis points in April, was matched by a sharp drop in rate lock activity. Overall volumes were down 20 percent from March, driven by a 50 percent decline in rate/term refinance activity. Cash-out refinancing fared little better. Homeowners appear unwilling to sacrifice their record-low rate existing first mortgages, seeking instead to access equity by way of home equity lines or second mortgages. Cash-out rate locks fell by 40 percent from March. The combined decline in refinance locks pushed the ref...