Latest Updates Around The World
Transaction revenue was $141 million, up 20% year over year. Gardiner said growth was driven by the Encompass loan origination platform, where customers are increasingly exceeding minimum usage levels amid an improving origination environment, along with double-digit growth in Electronic registration systems for mortgages (MERS) usage supported by strong refinancing activity. Recurring revenue totaled $391 […]
ICE said the increase is largely due to calendar effects and not a general deterioration in borrower performance. Similar calendar-driven increases occurred in 2014, 2008 and 2003, each of which saw a larger increase in November delinquencies than this year’s increase. “While topline delinquency figures show a sharp increase, we have seen similar spikes in […]
ICE found overall mortgage performance was strong in October, with the national default rate falling 7 basis points (bps) to 3.34%. That is 11 basis points lower than last year and 53 basis points lower than the pre-pandemic benchmark of October 2019. Andy Walden, head of ICE’s mortgage and housing market research, said the modest […]
The changes to Zillow’s Follow Up Boss privacy policy are sparking industry debate Zillow‘s updated privacy policy for Successor boss has led to discussion among real estate agents. The policy introduces “reciprocal customer data,” which allows Zillow to connect with customers who have a Zillow account. Critics claim this can affect agent-customer relationships, prompting some […]
Gross revenues, minus transaction fees, rose 3% from a year ago to $2.41 billion. Operating income rose 6% to $1.17 billion, with an operating margin of 49%. ICE Mortgage Technology posted revenue of $528 million, up 4% from a year earlier, including $137 million in transaction revenue, up 12%. ICE said on the earnings call […]
The number of bankruptcies rose to 42,000 in September – 43.5% higher than in August and an increase of 60.5% year on year. For the full third quarter, bankruptcies totaled 103,000, up 23% year-over-year, but still 18% below Q3 2019 levels. ICE’s long-term rates, which combine delinquencies and active foreclosures, improved year over year for […]
Emerson was joined by Terry Schmidt, CEO of Guild Mortgage; John Hedlund, vice chairman of ICE mortgage technology; and Brian Woodring, chief information officer at Nurez. Emerson acknowledged what he called the “elephant in the room” — industry consolidation — before turning the conversation over to Schmidt, who has been with Guild for 41 years […]
