Mortgage Industry News
Court Overturns Mortgage Fraud Conviction of Ex-Baltimore State’s Attorney
Marilyn Mosby was Baltimore’s state’s attorney from 2015 to 2023. Continue Reading Court Overturns Mortgage Fraud Conviction of Ex-Baltimore State’s Attorney
Report: Large Banks Originating More ARMs
“Future reset risk is mitigated by large banks’ continued focus on lending to borrowers with high credit scores and low leverage,” the report said. Continue Reading Report: Large Banks Originating More ARMs
Mortgage Application Activity Down Slightly
The MBA reported mortgage applications for new home purchases in November were up 7.2% year-over-year. Continue Reading Mortgage Application Activity Down Slightly
Mortgage Rates Take Another Drop
The 30-year fixed-rate mortgage averaged 6.60% as of Dec. 12. Continue Reading Mortgage Rates Take Another Drop
Refinance Surge Drives Up Mortgage Applications
The Refinance Index enjoyed a 27% bump-up from the previous week and was 42% higher than the same week one year ago. Continue Reading Refinance Surge Drives Up Mortgage Applications
How Hard is It for Self-Employed People to Get a Mortgage?
Source: Yahoo Finance --- Many people dream of being their own boss. And with good reason –multiple studies link self-employment with higher job satisfaction and enhanced physical wellbeing. As of July 2022, 16.4 million out of 158.1 million Americans were...
What are mortgage points and how can you buy them?
Source: CBS News --- Shopping around for a mortgage can be more than a little confusing. With all the variables to consider and industry lingo to learn, it's almost like the home buying process was designed to leave you scratching your head. Like with any complicated...
How to cut the biggest bill of them all . . . your mortgage
Source: The Guardian --- Spiralling energy, food and petrol prices, amid warnings of a recession, mean most households will be thinking about how to keep other costs as low as possible. So what should homeowners do about their biggest monthly outgoing – the mortgage?...
Housing Market Sees Troubling Sign as Mortgage Lenders Fail
Source: Housing Wire --- Some independent mortgage lenders feeling the brunt of increased lending rates are declaring bankruptcy and have already laid off hundreds of employees in certain instances, in what is being described as the worst shape the housing market has...
How to Choose a Mortgage Lender
Source: Total Mortgage --- When you are house hunting, choosing the right mortgage lender can be just as important as finding your dream home. While some aspects of the home buying process are standard, there are nuances surrounding mortgage products and the terms...
Failing to qualify, or just cold feet? More homebuyers backing out of deals in 2022
Source: First Tuesday Journal --- More buyers backing out Real estate deals are faltering as home sales volume continues its downward path. In June 2022, roughly 60,000 home sales fell through nationwide, translating to 14.9% of homes under contract. This is the...
Home ownership and the “American Dream” are crushed by Real Estate Investment Trusts
Source: Tennessee Lookout--- A big economic division between renters and homeowners is apparent when looking at net worth: For homeowners, the median net worth of $231,400 is about 44 times the median net worth of renters, which is $5,200. Dr. Ken Chilton of Tennessee...
Why the housing market is in recession in terms of sales — but not prices
Source: Deseret News --- July was an even more sluggish month for the U.S. housing market as sales of previously owned homes slipped by 6% from June and a whopping 20.2% year over year. Home prices are still high, though, with the median existing home sales price up...
Virtual mortgage closings took off during COVID-19. Why e-closings with online lawyers will soon be the norm
Source: The Globe And Mail --- If you’re a looking for a small silver lining in the global pandemic, you’ll find one in the way that COVID-19 inspired faster mortgage closings. When mass contagion made face-to-face lawyer visits less palatable, virtual closings took...
Mortgage rates drop amid signs that inflation may have finally peaked
Source: CNN --- Mortgage rates ticked lower last week, falling back toward the 5% mark following economic reports that indicated inflation might have finally peaked. The 30-year fixed-rate mortgage averaged 5.13% in the week ending August 18, down from 5.22% the week...
Recent Posts
New Report Details Massive Parcel Vacancy Blight Across St. Louis- CFG Bank Launches CFG Mortgage Partners, Aimed at Multifamily Market
- ATTOM Debuts ResiScore, AI-Powered Tool for Neighborhood Ranking Data
- CRE Finance Council Names Toby Cobb as Chairman of Executive Committee
- Existing Home Sales Up 3.2% in May
