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Th e M Rep o RT | 57 O r i g i nat i O n s e r v i c i n g a na ly t i c s s e c O n da r y m a r k e t ANALYTICS local edition ANALYTICS "Two weeks after mortgage rates spiked about 1 percentage point in June, the number of Redfin customers taking tours and signing offers dropped 14 percent and 12 percent, respectively," Redfin said. Redfin argues the time to ta- per the stimulus and allow rates to begin to rise is now, during the slow homebuying season. Doing so would allow con- sumers to adjust to the new rates and prepare before the market enters the spring buying season. By the time spring comes, the hope is that buyers will have adjusted their expectations and may be ready to purchase. dataQuick enhances standard recorder layout with expanded data Firm enhances product oFFerings to increase views oF properties and transactions. CALIFORNIA // DataQuick, a real estate information solutions firm headquartered in San Diego, announced it has expanded its Standard Recorder layout to pro- vide a more comprehensive view of properties and transactions. The expanded layout allows for the creation of a custom bundle devoted to key loan transaction intelligence, includ- ing data on 12 million loan modifications, loan terms on four million mortgages, interest rates on 600,000 loans, and details on 525,000 reverse mortgages. The result, DataQuick says, is a solution designed to offer greater insights to originators, servicers, and investors as they make business-critical decisions. The Expanded Loan Transaction Record is also fully integrated with DataQuick's National Property Database, adding greater intelligence to its existing 305 million property transaction records and 127 mil- lion assessor records. "Lenders, servicers and inves- tors need as much loan-level intelligence as possible to be able to properly gauge the risk and opportunity associated with spe- cific transactions, properties, and borrowers," said DataQuick pres- ident John Walsh. "DataQuick's Expanded Loan Transaction Record is designed to provide the details needed to make the right decisions throughout the mortgage workflow." reversevision Forges new Partnership with Ulc company plans to educate borrowers on reverse mortgages to help them make well-inFormed decisions. CALIFORNIA // Reverse mortgage software provider ReverseVision has a new client: Universal Lending Corporation (ULC), a Denver-based lender with more than three de- cades of experience in the business. Using ReverseVision's tools, ULC says it will continue to educate borrowers on reverse mortgages to ensure they're able to make well-informed decisions about the product—benefiting borrowers and enhancing its own business in the process. "Universal Lending has always focused on responsible lending practices as we understand the impact we have on our communi- ty with every loan we make, and we take that responsibility very seriously," said Paulette Wisch, VP and branch manager for ULC. "ReverseVision's platform is an essential tool that makes explain- ing reverse mortgage loans to the borrower simple and easy to understand, which is also very important to us." "We look forward to work- ing with Universal Lending and empowering their team with tools that make working with borrow- ers, and originating and funding reverse mortgage loans easy," said John Button, CEO of San Diego- based ReverseVision. "With over 10,000 people in the U.S. turning 62 every day, their opportunity to expand their business in Denver, and the rest of the country, is sure to see exponential growth in the New Year. mBa data shows drop in new Home Purchase applications the organization's builder application survey shows new home purchases dropped towards the end oF 2013. WASHINGTON, D.C. // Applications for new home pur- chases plummeted from October to November, the Mortgage Bankers Association (MBA) estimates in its latest Builder Application Survey (BAS). The BAS, which tracks ap- plication volume from mortgage subsidiaries of homebuilders nationwide, shows applications for new homes fell an estimated 18 percent (unadjusted) month- over-month in November. By product type, MBA reports conventional loans accounted for 66.2 percent of loan applica- tions; loans backed by the Federal Housing Administration (FHA) made up 19.9 percent; mortgages insured by the Department of Veterans Affairs (VA) composed 12.9 percent; and loans insured by rural-focused government agencies made up 1.1 percent of volume. Using information from the survey, as well as assumptions regarding market coverage and other factors, MBA estimates sales of new single-family homes ran at an adjusted annual rate of 455,000, up 11,000 from the Census Bureau's estimate for October (but down from the as- sociation's prediction of 509,000). Unadjusted, MBA estimates there were 32,000 new home sales in November. The average loan size for new homes was up slightly, rising a little more than $1,000 to $295,523. "We look forward to working with Universal Lending and empowering their team with tools that make working with borrowers, and originating and funding reverse mortgage loans easy." —John Button, ReverseVision.