MISMO, the real estate finance industry’s standards organization, has published the Artificial Intelligence (AI) Glossary, a resource designed to establish a shared vocabulary for AI across mortgage finance. According to the organization, the new resource brings...
The national median mortgage payment applied for by loan applicants decreased to $2,100 from $2,127 in August, according to data from the Mortgage Bankers Association (MBA). However, it was also up by $43 from one year ago, equal to a 2.1% increase. The national...
Mortgage rates inched up in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). The 30-year fixed-rate mortgage averaged 6.30% as of Sept. 25, up from last week when it averaged 6.26%. A year ago at this time, it averaged 6.08%. The...
Cleveland-headquartered CrossCountry Mortgage (CCM) has increased its agency conforming loan limits to $819,000, up from the current $806,500. According to the company, this action comes through CCM’s Early Bird Program and is being enacted months ahead of the...
The national mortgage delinquency rate rose by 16 basis points (bps) in August to 3.43%, a 10-bps year-over-year upswing. According to data from ICE Mortgage Technology, August’s rise follows delinquency rate declines from June and July. FHA loans recorded the largest...
The Department of Justice (DOJ) has acquiesced to President Trump’s demands that mortgage fraud investigation of New York Attorney General Letitia James move forward. According to a Bloomberg report sourced from unnamed “people familiar with the matter,” the case is...
