Mortgage Industry News
Finance of America Reverse Debuts HomeSafe Second Line of Credit
The product is now available in California, with a further rollout planned in the coming weeks. Continue Reading Finance of America Reverse Debuts HomeSafe Second Line of Credit
Mortgage Application Activity Slows Amid Decline in Refinancing
The VA share of total applications increased to 16.1% from 15.9%. Continue Reading Mortgage Application Activity Slows Amid Decline in Refinancing
February New Home Purchase Mortgage Applications Up by 0.9%
Conventional loans composed 49.4 % of loan applications and FHA loans composed 35.3%. Continue Reading February New Home Purchase Mortgage Applications Up by 0.9%
Palantir Teams with Moder on AI-Powered Mortgage Operations Platform
“This strategic partnership will reshape the future of our industry,” said Michael Middleman, chairman of Moder. Continue Reading Palantir Teams with Moder on AI-Powered Mortgage Operations Platform
Mortgage Rates Start Rising Again
The 30-year fixed-rate mortgage averaged 6.11% as of March 12, up from last week when it averaged 6.00%. Continue Reading Mortgage Rates Start Rising Again
New Home Purchase Mortgage Applications Up 3.1% in November
The average loan size for new homes decreased from $381,404 in October to $378,063 in November. Continue Reading New Home Purchase Mortgage Applications Up 3.1% in November
Mortgage Rates Tick Up Slightly
The 30-year fixed-rate mortgage averaged 6.22% as of Dec. 11, up from last week when it averaged 6.19% Continue Reading Mortgage Rates Tick Up Slightly
NYC Man Pleads Guilty to Using Mortgage Fraud for Buying Maine Marijuana Grow House
Ken Yiu faces up to 30 years in prison and a maximum fine of $1 million for the mortgage fraud count and 20 years in prison and a maximum fine of $500,000 for the drug count. Continue Reading NYC Man Pleads Guilty to Using Mortgage Fraud for Buying Maine Marijuana Grow House
Mortgage Application Activity Up by Nearly 5%
The FHA share of total applications increased to 20.2% from 18.3% the week prior. Continue Reading Mortgage Application Activity Up by Nearly 5%
Homeowners Face 73% Spike in Mortgage Payments If They Move
“The lock-in effect isn’t just theoretical; it’s a significant factor weighing on the decisions of American homeowners,” said Realtor.com Chief Economist Danielle Hale. Continue Reading Homeowners Face 73% Spike in Mortgage Payments If They Move
Mortgage Credit Availability Increases for Fifth Straight Month
“Mortgage credit availability increased for the fifth consecutive month to its highest level since 2022,” said MBA’s Joel Kan. Continue Reading Mortgage Credit Availability Increases for Fifth Straight Month
Report: Refinance Retention at 3.5-Year High
Non-banks retained refinancing borrowers at roughly three times the rate of banks (35% versus 13%). Continue Reading Report: Refinance Retention at 3.5-Year High
United Wholesale Mortgage’s Ishbia: Trump and Pulte ‘Care About the Housing Market’
“They’re thinking about things that we’ve all talked about in our industry,” he said. Continue Reading United Wholesale Mortgage’s Ishbia: Trump and Pulte ‘Care About the Housing Market’
Report: Grand Jury Refuses to Indict Letitia James in Mortgage Fraud Case
“This should be the end of this case,” said Abbe Lowell, James’ attorney. Continue Reading Report: Grand Jury Refuses to Indict Letitia James in Mortgage Fraud Case
Mortgage Rates Drop for Second Straight Week
The 30-year fixed-rate averaged 6.19% as of Dec. 4. Continue Reading Mortgage Rates Drop for Second Straight Week
