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Preapprovals fell 15% in Q3 as home prices spiked: LenderLogix

LenderLogix, a provider of mortgage point-of-sale and automation software for lenders, said that borrowers generated 49,392 preapproval letters through its QuickQual preapproval program in third-quarter 2024, a 15% decrease from the second quarter. The average number of preapproved borrowers per loan officer decreased slightly to 28.5 in the third quarter, down from 29 in Q2 2024,…

Lower mortgage rates won’t solve homebuilders’ problems

Cooling inflation and a steady job market are giving homebuilders a sense of optimism when it comes to mortgage rates, leading to an uptick in homebuilder confidence, according to data published on Thursday. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) rose two points month over month to a reading of 43 in October….

Better launches voice-based AI loan assistant

Better Home & Finance, the parent company of digital lender Better.com, launched its voice-based artificial intelligence loan assistant on Thursday. According to the company, the assistant provides customers with “timely and accurate answers.”   The AI loan assistant, dubbed Betsy, was built through Tinman, the company’s proprietary loan origination platform, where information and facts on…