Mortgage Industry News
Cornerstone Capital Bank in Joint Ventures with Texas, North Carolina Homebuilders
Cornerstone is now managing joint venture mortgage companies with 15 homebuilders nationwide. Continue Reading Cornerstone Capital Bank in Joint Ventures with Texas, North Carolina Homebuilders
Multiply Mortgage Raises $23.5 Million in Series A Funding
Multiple Mortgage’s services are available in 45 states and the District of Columbia. Continue Reading Multiply Mortgage Raises $23.5 Million in Series A Funding
Mr. Cooper Pays $1.4 Billion For Flagstar’s Mortgage Operations
The acquisition encompasses Flagstar’s MSRs, advances, subservicing contracts, and a third-party origination platform. Continue Reading Mr. Cooper Pays $1.4 Billion For Flagstar’s Mortgage Operations
MBA: Homebuyer Affordability Conditions Improve
The national median mortgage payment for conventional loan applicants in June was $2,180. Continue Reading MBA: Homebuyer Affordability Conditions Improve
Rocket Mortgage Tops Mortgage Servicer Satisfaction Study for 10th Straight Year
The study is based on responses from 15,020 customers who have been with their current mortgage loan servicer for at least one year. Continue Reading Rocket Mortgage Tops Mortgage Servicer Satisfaction Study for 10th Straight Year
First American: Housing affordability drops to lowest point since 2007
Source: Scotsman Guide --- The latest Real House Price Index (RHPI) report from First American Financial Corp. offered further confirmation that affordability is one of the U.S. housing market’s biggest issues. The RHPI, which measures the price changes of...
Redfin’s chief economist says the housing market correction has begun—and things are going to get worse before they get better
Source: Fortune --- As summer kicks off, everything is heating up. Everything, it seems, except the housing market. Following a blistering two year tear, real estate firm Redfin is reporting big drops in demand and price cuts becoming the norm in many of the hottest...
Housing Market Update: Asking Prices Come Down from All-Time High
Source: Redfin --- More and more, home sellers are ceding to the mounting pressure on affordability posed by this month’s rapid mortgage-rate hike. The median asking price of newly listed homes is down 1.5% from the all-time high it reached in the spring, and a...
As rates rise and expectations shift, more sellers dropping asking prices
Source: Scotsman Guide --- With affordability hovering around all-time lows and buyer activity on the decline, more and more home sellers are recalibrating their expectations and adjusting their asking prices, according to a new report from Redfin. The median asking...
7 regulation and compliance issues facing the mortgage industry
Source: National Mortgage News --- From a debate on credit scoring models to a CFPB warning to servicers about their handling of Homeowner Assistance funds, there's no shortage of developments at the federal level that stand to impact every day dealings in the...
Families could be offered mortgages of 50 YEARS that they can then pass to their children under plans being considered to help them buy bigger homes
Source: Daily Mail --- Families could be offered mortgages of 50 years or more that can be passed between generations under plans being considered by Boris Johnson. Lenders will be encouraged to let buyers borrow over terms lasting five decades or even longer so they...
A 3% Mortgage? Leveraging Your Stocks to Buy a Home
Source: Bloomberg --- There may be signs the overheated housing market is cooling, but many buyers still feel like it’s near-impossible to get a house without an all-cash offer, or something close to it. One way to get your hands on that amount of cash is to borrow...
Rates Plummet to 3 Week Lows. Has The Corner Been Turned?
Source: Mortgage News Daily --- Mortgage rates have been volatile in 2022. Most of that volatility has played out in the form of higher rates. The past 2 weeks have been a notable exception. To understand why this is happening, we first need to consider that higher...
Rates Lowest in More Than a Week After Inflation Data
Source: Mortgage News Daily --- Inflation is the enemy of low interest rates. As such, the mortgage market was waiting patiently for this week's key inflation report released this morning. Thankfully, it showed inflation was running a bit cooler than expected. ...
Homeownership Could Be in Reach with Down Payment Assistance Programs
Source: Keeping Current Matters --- A recent survey from Bankrate asks prospective buyers to identify the biggest obstacles in their homebuying journey. It found that 36% of those polled said saving for a down payment is one of their primary hurdles to buying a home....
