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Eric Francis Named VP of Finance at GO Mortgage
Francis was previously vice president of mortgage at A+ Federal Credit Union.
Serious Mortgage Delinquency Rate at a 23-Year Low
Idaho was the only state to see an annual uptick in its overall mortgage delinquency rate during July, albeit at a scant 0.1 percentage point.
Additional Reading: Top Mortgage Industry News & Headlines
Mortgage Rates at Highest Peak in Almost 23 Years
The 30-year fixed-rate mortgage averaged 7.31% as of Sept. 28, up from last week when it averaged 7.19%.
CFPB Mortgage Report: Higher Closing Costs, More Denials for Insufficient Income
Average monthly mortgage payments increased more than 46% last year, from $1,400 in December 2021 to $2,045 in December 2022.
Mortgage Application Activity Declines Again
Both the seasonally adjusted and the unadjusted Purchase Index dropped 2% from one week earlier.
Teachers Federal Credit Union Now Offering VA Loans
“It is our honor to serve those who serve our country,” said Brad Calhoun, president and CEO.
Mortgage Rates Flat, But Still Above 7%
“Given these high rates, housing demand is cooling off and now homebuilders are feeling the effect,” said Freddie Mac’s Sam Khater.
Mortgage Applications Up 5.4%
“Mortgage applications increased last week, despite the 30-year fixed mortgage rate edging back up to 7.31%,” said MBA’s Joel Kan.
Forbearance Levels Continue to Decline
The forbearance share for portfolio loans and private-label securities decreased 6 basis points to 0.39%.
CrossCountry Mortgage Now Offering Spanish-Language Loan Application
“Our support for the Hispanic community extends well past translated materials,” says Eric Wilson, chief marketing officer.
Mortgage Machine Services launches loan origination system
The LOS also provides all-in-one eClosing functionality, including an eClose room, eNotes, eVault and remote online notarization.
Mortgage Rates Are Back on the Rise
“The reacceleration of inflation and strength in the economy is keeping mortgage rates elevated,” said Freddie Mac’s Sam Khater.
Credit Union Mortgage Originations Down 60% in Q3
Variable rate HELOCs recorded 14% year-over-year origination declines.
Mortgage-Rate Locks for Second Homes Down 19%
August is the 14th consecutive month that second-home demand is at least 30% below pre-pandemic levels.
Start-up Platform Roam Offers Mortgages as Low as 2%
Roam’s service is currently available in Arizona, Colorado, Florida, Georgia and Texas, with plans to expand into new markets soon.
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A total of 33,952 residential properties had foreclosure filings in August, up 7% from the previous month but down 2% from one year earlier, according to data from ATTOM.
Nationwide, one in every 4,113 housing units had a foreclosure filing last month.
https://wrenews.com/foreclosure-activity-records-uptick-in-august/
Mortgage application activity went into decline again last week, according to data from the Mortgage Bankers Association (MBA).
The Market Composite Index, the trade group’s measure of mortgage loan application volume, was down by 0.8% #JoelKan #MBA
https://wrenews.com/mortgage-application-activity-down-again/
The Appraisal Institute has launched its Practical Applications of Real Estate Appraisal (AI PAREA) program to expand the depth and scope of the appraiser profession.
The Appraisal Foundation’s Boardof Trustees awarded a $500,000 Pathway to Success
https://wrenews.com/appraisal-institute-debuts-program-to-expand-appraiser-base/
