Mortgage Industry News
The Mortgage Market Is Healthy. That Doesn’t Mean Every Homeowner Is
The mortgage market remains healthy overall, but FHA serious delinquencies have climbed sharply. John G. Stevens argues that the industry should understand why borrowers are struggling before today’s warning signs become tomorrow’s foreclosure statistics. Continue Reading The Mortgage Market Is Healthy. That Doesn’t Mean Every Homeowner Is
Real Estate’s Next Fight Is Over Who Keeps the Homeowner Relationship
HomeServices of America’s move into mortgage servicing through Prosperity Home Mortgage points to a larger shift in housing: the battle to maintain the homeowner relationship long after the closing table. Continue Reading Real Estate’s Next Fight Is Over Who Keeps the Homeowner Relationship
More Borrowers Can Qualify for a Mortgage. That Doesn’t Make the House Affordable
Non-QM lending is giving more borrowers a path to financing. That can be good for housing, but qualifying for a mortgage and being able to afford the home are two different things. Continue Reading More Borrowers Can Qualify for a Mortgage. That Doesn’t Make the House Affordable
Real REMAX Stops Selling New Motto Mortgage Franchises After Merger
Real REMAX is ending sales of new Motto Mortgage franchises just days after completing its combination, signaling an early change in the new company’s mortgage strategy. Continue Reading Real REMAX Stops Selling New Motto Mortgage Franchises After Merger
Warsh Says Housing Is Strained, but Inflation Still Comes First at the Fed
Fed Chairman Kevin Warsh acknowledged housing-market strain at Jackson Hole but made clear that persistent inflation — not housing weakness — is driving the Fed’s policy focus. Continue Reading Warsh Says Housing Is Strained, but Inflation Still Comes First at the Fed
AI Is Getting a Bigger Role in Home Valuations. Borrowers Need a Better Way to Challenge It
AI and automated valuation tools are taking a larger role in mortgage lending. The technology can improve speed and efficiency, but borrowers need a practical way to address a valuation when the underlying property information or result is wrong. Continue Reading AI Is Getting a Bigger Role in Home Valuations. Borrowers Need a Better Way to Challenge It
Mortgage Rates Record the Barest of Upticks
The 30-year fixed-rate mortgage averaged 6.66% as of Aug. 27, inching up from last week when it averaged 6.65%. Continue Reading Mortgage Rates Record the Barest of Upticks
We Made Mortgage Lending Safer. Did We Make It Too Safe?
Mortgage lending is safer than it has been in decades. But as credit standards remain tight and fewer moderate-credit borrowers obtain mortgages, John G. Stevens asks whether the industry has become too good at avoiding risk. Continue Reading We Made Mortgage Lending Safer. Did We Make It Too Safe?
Homebuyer Affordability Improved Slightly in July
he national median mortgage payment for conventional loan applicants was $2,184. Continue Reading Homebuyer Affordability Improved Slightly in July
Federal Agencies Rescind Special Purpose Credit Program Guidance
The agencies said creditors should no longer rely on the statement or related issuances going forward and emphasized that lenders may not discriminate against borrowers based on characteristics prohibited by law. Continue Reading Federal Agencies Rescind Special Purpose Credit Program Guidance
Mortgage Lending Changed. The Federal Home Loan Bank System Hasn’t Kept Up
Independent mortgage banks now originate a substantial share of American home loans but remain ineligible for Federal Home Loan Bank membership. Is a 94-year-old membership structure still right for today’s mortgage market? Continue Reading Mortgage Lending Changed. The Federal Home Loan Bank System Hasn’t Kept Up
Prosperity Home Mortgage Expands into Servicing
“Buying a home may be one transaction, but homeownership is a journey that lasts for years,” said Chris Kelly, president and CEO of HomeServices of America. “ Continue Reading Prosperity Home Mortgage Expands into Servicing
Mortgage Application Activity Dips by 1%
The FHA share of total applications decreased to 16.2% from 17.1% the week prior. Continue Reading Mortgage Application Activity Dips by 1%
Carrington Expands Non-QM Lending to Borrowers With FICO Scores as Low as 550
Carrington Mortgage Services expanded its Flexible Advantage non-QM program, including new options for certain eligible borrowers with FICO scores as low as 550. Continue Reading Carrington Expands Non-QM Lending to Borrowers With FICO Scores as Low as 550
loanDepot Gets NYSE Deficiency Notice as Shares Fall Below $1 Threshold
loanDepot received an NYSE continued-listing deficiency notice after its average share price fell below the exchange’s $1 minimum threshold. Continue Reading loanDepot Gets NYSE Deficiency Notice as Shares Fall Below $1 Threshold
