Mortgage Industry News
Teresa Carlile Named President at Ridgeland Mortgage
Carlile was previously operations manager for business insurance at Travelers. Continue Reading Teresa Carlile Named President at Ridgeland Mortgage
Mortgage Rates Inch Closer to 7% Level
The 30-year fixed-rate mortgage averaged 6.93% as of Jan. 9. Continue Reading Mortgage Rates Inch Closer to 7% Level
New Home Purchase Mortgage Applications Up 6.2%
The average loan size for new homes was $405,400 in March. Continue Reading New Home Purchase Mortgage Applications Up 6.2%
A&D Mortgage Launches Promotion for Northeast Markets
The promotion runs from April 15 to May 31. Continue Reading A&D Mortgage Launches Promotion for Northeast Markets
CMG Financial Acquires Norcom Mortgage’s Retail Assets
CMG Financial, a mortgage banking firm headquartered in San Ramon, California, announced its retail acquisition of Norcom Mortgage of Hartford, Connecticut. The financial terms of the acquisition were not disclosed. The integration of Norcom Mortgage marks CMG's...
How To Navigate a Market Where Multiple Offers Is the New Normal
Source: Keeping Current Matters --- If you’re thinking of buying a home today, you already know that the number of homes available for sale is low. But what does that really mean for you? As a buyer, low housing supply coupled with high buyer demand means you should...
Opinion: Affordable lending requires creative thinking
Source: Housing Wire --- Each fall, trendsetters at Pantone decide on the next year’s “color of the year,” which they feel will define and influence the upcoming year. Whether the “color of the year” is a self-fulfilling prophecy or the trendsetters really are that on...
Mortgage applications jump 8.5% as Russia’s war pressures rates
Source: Housing Wire --- Mortgage applications jumped 8.5% for the week ending March 4, as mortgage rates dropped for the first time in three months as a result of Russia’s war in Ukraine, the Mortgage Bankers Association (MBA) reported on Wednesday. Borrowers’ demand...
Nearly 6,000 U.S. Homes Have Sold For $100,000+ Above Asking Price This Year
Source: Redfin --- Nationwide, 5,897 homes sold for at least $100,000 over asking price at the beginning of this year, up from 2,241 during the same period last year. The Los Angeles metro area led the way, with 718 homes selling for at least $100,00 over asking...
What opportunities do lenders miss out on by not focusing on credit?
Source: Housing Wire --- HousingWire: What opportunities do lenders miss out on by not focusing on credit, especially early in the mortgage origination cycle? Mike Darne: When I joined CreditXpert back in March of 2021, I started digging into aggregated internal...
Why the Public is Not Happy with Inflation!
In 1913 folks could buy a five-course meal and iced tea for 10 cents. That was about the time when the Federal Reserve system (central bank) was established. Since that time, approximately 109 years later, as of 2022, inflation increased by 2,740%. Many folks will...
American Mortgage Payment Costs Are Now 36% Higher Than a Year Ago
Source:Bloomberg --- Finding a home to buy is only the first struggle. Then there’s paying the mortgage. That’s become increasingly challenging, with the average American monthly mortgage payment rising to the highest level ever. It’s now $1,230 per month for...
Texas mortgage assistance program opens for statewide applications
Source: KERA News --- State officials have rolled out a "Texas Homeowner Assistance Fund" that is designed to help homeowners who’ve fallen behind on mortgage payments and other housing costs during the pandemic. The program has about $700 million in federal funds...
Crypto mortgage lenders are entering the hottest housing market ever
Source: Fortune --- When Chris Matta wanted to buy a condo in Jersey City three years ago, he ran into a problem. Matta, 32, had just left a job as vice president at Goldman Sachs to start Crescent Crypto, a crypto asset management firm, and most of his net worth was...
Mortgage insurance explained (Podcast)
Source: The Mortgage Reports --- Mortgage insurance basics Mortgage insurance might sound like something that protects you – the homeowner – should you fall behind on your payments. But in reality, it’s a policy for the lender that ensures they’ll recoup their losses...
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