Mortgage Industry News
Mortgage Fraud Criminal Probe Opened Against NY AG Letitia James
James called the allegations “baseless” and claimed it was part of President Trump’s “revenge tour.” Continue Reading Mortgage Fraud Criminal Probe Opened Against NY AG Letitia James
Second Home Mortgage Origination at 7-Year Low
Demand for vacation homes is falling fastest in Florida. Continue Reading Second Home Mortgage Origination at 7-Year Low
Mortgage Application Activity Drops While Forbearance Levels Inch Up
The number of loans in forbearance increased in June for the first time since October 2022. Continue Reading Mortgage Application Activity Drops While Forbearance Levels Inch Up
Mortgage Rates Drop Again
The 30-year fixed-rate mortgage averaged 6.77% as of July 18. Continue Reading Mortgage Rates Drop Again
HUD Proposes New Rule for Governing FHA Mortgage Note Sales
HUD is requesting public comment on its proposal by Sept. 16. Continue Reading HUD Proposes New Rule for Governing FHA Mortgage Note Sales
John G Stevens makes list of Top 100 Global Leaders in Finance
Source: JohnGStevens.com --- The Global conference on Insurance and Finance (GCIF) has released its 2021 list of the Top 100 Global Leaders in Finance and included John G Stevens on their annual list. GCIF dives into the latest market trends, cost control strategies,...
How joining the Great Resignation could hamper homebuying plans
Source: Bankrate --- If you joined the Great Resignation in the last year, you may have found it even harder to compete in the already wild pandemic housing market. A record number of Americans quit their jobs in 2021, according to the Bureau of Labor Statistics, and...
Global Real Estate Rental Market 2022: Agents Increasingly Using New Technologies Including VR – ResearchAndMarkets.com
Source: Finance Yahoo --- The global real estate rental market is expected to grow from $2164.29 billion in 2021 to $2396.61 billion in 2022 at a compound annual growth rate (CAGR) of 10.7%. The growth is mainly due to the companies rearranging their operations and...
Does a 15-Year Mortgage Make Sense in 2022?
Source: The Ascent --- If you're looking to buy a home this year, the good news is that mortgage rates are still fairly competitive from a historical standpoint. The bad news, however, is that they've started the year off higher. And there's a good chance rates will...
Here’s how to proactively maintain fair lending
Source: Housing Wire --- HousingWire: How does Fair Lending affect mortgage servicing? Amanda Phillips: The Consumer Financial Protection Bureau (CFPB) has repeatedly signaled throughout the past year via blogs, press releases, reports, its Fall 2021 Supervisory...
Annuities And Reverse Mortgages Are Perfect Complements – So Why Have They Been Forcibly Separated
Source: Forbes --- The answer is that the loss from absence of complementarity is not generally recognized, the population segment that is victimized is not identified, and the regulatory structure responsible for the separation of functions is oblivious to the harm...
Your Questions Answered: Best Home Buying Tips for First-Timers
Source: Housing Logic --- Buying your first home is a big freaking deal. How do you know which loan is right for you? How do you swing the down payment? How do you ensure your offer isn’t too low or too high? What don’t you know that you don’t know? Ack! Breathe,...
Made a profit selling your home? Here’s how to avoid a tax bomb this filing season
Source: CNBC --- If you recently made a profit selling your home, it may come with a costly surprise this filing season: capital gains taxes on your windfall. In 2021, the average U.S. home seller scored a profit of $94,092, up 71% from $55,000 two years ago,...
‘The major question is whether rising rates will quench housing demand’: Existing-home sales surge higher, but could be set for a downturn
Source: Market Watch --- The numbers: Existing-home sales increased by nearly 7% between December and January, hitting a seasonally-adjusted, annual rate of 6.5 million, the National Association of Realtors said Friday. Compared to a year ago, sales were down more...
Blowing the Whistle
Source: Scotsman Guide --- As a nearly $9 million settlement between federal regulators and Trustmark National Bank makes painfully evident, few things present more unwelcome press for mortgage bankers and servicers than accusations of redlining or discrimination....
