Mortgage Industry News
CommLoan Adds Land and Build-to-Rent Financing to Platform
“Every deal type we add makes the platform smarter,” said Mitch Ginsberg, founder and CEO of CommLoan. Continue Reading CommLoan Adds Land and Build-to-Rent Financing to Platform
Survey: One-Third of Respondents Believed a Perfect Credit Score is Needed for a Mortgage
A new survey released by Veterans United Home Loans has discovered a rather considerable amount of incorrect assumptions by prospective homebuyers when it comes to acquiring a property. More than one-third of respondents (34%) were under the impression that they...
Refinancing Surge Drives Up Mortgage Application Activity
The Refinance Index increased 5% and was 15% higher than the same week one year ago. Continue Reading Refinancing Surge Drives Up Mortgage Application Activity
Mortgage Applications for New Home Purchases at 14-Year High
“Government applications, which include FHA, VA, and USDA/RHS loans, accounted for more than half of applications received,” said MBA’s Joe Kan. Continue Reading Mortgage Applications for New Home Purchases at 14-Year High
National Mortgage Bankers Promotes Yasser Valdes Herrera to President of Americasa Mortgage Platform
Herrera first joined the company in 2022 as a loan officer before being promoted to producing sales manager. Continue Reading National Mortgage Bankers Promotes Yasser Valdes Herrera to President of Americasa Mortgage Platform
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
Mortgage Application Activity Slows Again
Among the federal programs, the FHA share of total applications decreased to 18.3% from 18.8% the week prior. Continue Reading Mortgage Application Activity Slows Again
FHFA Gives Green Light for Use of FICO 10T Score Data
FICO announced the news in a corporate blog post; the FHFA has yet to make a formal announcement. Continue Reading FHFA Gives Green Light for Use of FICO 10T Score Data
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