Mortgage Industry News
New Senate Bill Would Recognize Cryptocurrency as Mortgage Collateral
“The American dream of homeownership is not a reality for many young people,” said Sen. Cynthia Lummis. Continue Reading New Senate Bill Would Recognize Cryptocurrency as Mortgage Collateral
Mortgage Application Activity Slows Down
“Mortgage applications fell to their lowest level since May,” said MBA’s Joel Kan. Continue Reading Mortgage Application Activity Slows Down
A&D Mortgage Acquires Wholesale Mortgage Origination Business from Mr. Cooper
The acquisition expands A&D’s broker network to more than 8,500 partners. Continue Reading A&D Mortgage Acquires Wholesale Mortgage Origination Business from Mr. Cooper
FCC Warns Against Fraudulent Mortgage Calling Campaign
Green Mirage has impersonated over 400 mortgage institutions and caused hundreds of thousands of dollars of losses to deceived homeowners. Continue Reading FCC Warns Against Fraudulent Mortgage Calling Campaign
Mortgage Rates Break Past 7% Level
Mortgage rates ticked up for the fifth consecutive week. Continue Reading Mortgage Rates Break Past 7% Level
4 Surprising Reasons Homebuyers’ Real Estate Deals Fall Through Today: Could Yours Be Next?
Source: Realtor.com --- Owning a home is the American dream, but at the moment it’s more like homebuying cancel culture. According to a 2022 survey by home warranty site Cinch Home Services of 1,000 Americans who have tried to buy or sell a home in the past year, more...
Market chaos forces UK lenders to pull mortgage products
Source: Reuters --- LONDON, Sept 26 (Reuters) - Turmoil in British financial markets forced mortgage lenders to temporarily withdraw and reprice products for new customers on Monday, a real-world consequence of the market volatility thrown up by finance minister Kwasi...
John Paulson on Frothy US Housing Market: This Time Is Different
Source: Yahoo --- John Paulson became a billionaire after his hedge fund effectively shorted more than $25 billion of mortgage securities at the dawn of the global financial crisis. As he sizes up yet another frothy housing market some 15 years later, the founder of...
HARP Loan Program: How Did It Work?
Source: Investopedia --- When interest rates fall, many homeowners will refinance their mortgage to lock in a lower interest rate, which can reduce a borrower's monthly payment or allow a homeowner to build equity more quickly. However, one group of homeowners who...
These 210 housing markets are now vulnerable to 20%-25% home price declines, finds latest Moody’s downgrade
Source: Fortune --- Favorable millennial demographics. Tight housing inventory. Low unemployment. That’s why housing bulls said the Pandemic Housing Boom had more room to run. Moody’s Analytics chief economist Mark Zandi, of course, disagreed. Back in May, Zandi came...
Proposition 4: Juneau voters will decide whether to repeal mandatory disclosure of real estate prices
Source: KTOO --- This question asks voters to repeal measures the Juneau Assembly adopted in 2020 and this past February that mandate sharing real estate sales prices with the city assessor’s office. The assessor’s job is to determine the fair market value of every...
Thousands could miss out on mortgages due to rising energy costs – research
Source: Mortgage Introducer --- A recent study has shown that the rising cost of energy could lead to thousands of applicants missing out on mortgages due to its impact on their affordability. Data analysis by Mortgage Broker Tools (MBT) has found that while three in...
Bank statement loans: Mortgage lenders and requirements
Source: The Mortgage Reports --- Where can I find a bank statement loan? The home loan process looks a little different when you have self-employed income. Traditional home loans are an option, but some self-employed borrowers prefer bank statement loans, which...
While inflation continues to drive Houston interest rates up, real estate agents say there may be a silver lining for buyers
Source: Click 2 Houston --- HOUSTON – Sikiru Ogunboyejo has been a real estate agent for eight years. He says he’s seen major fluctuations in interest rates during his time on the job. ”When COVID started interest rates were, I wouldn’t say at an all-time low, but...
Why Warren Buffett Doesn’t Buy Real Estate And Most Other Investors Shouldn’t Either
Source: Yahoo --- Warren Buffett’s long-term investment strategy has proven to be successful through virtually all market conditions over the past several decades – recession, high inflation and deflation. If there’s one thing that’s made Buffett one of the most...
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