Mortgage Industry News
The Agency in New Partnership for Mortgage Lending
Aclara Lending will begin operations in Southern California. Continue Reading The Agency in New Partnership for Mortgage Lending
HUD and Ginnie Mae to Host Summit on Mortgage Market Liquidity
The summit will include guest experts from the federal government, private sector, and housing industry. Continue Reading HUD and Ginnie Mae to Host Summit on Mortgage Market Liquidity
loanDepot Unveils melloNow Underwriting Engine
The company has been beta-testing the system for the last several quarters. Continue Reading loanDepot Unveils melloNow Underwriting Engine
Mortgage Credit Availability Down in November
“Credit availability in November declined to its lowest level in four months, driven by reduced offerings of non-QM and jumbo loan programs,” said MBA’s Joel Kan. Continue Reading Mortgage Credit Availability Down in November
Mortgage Rates Continue to Plummet
“The 30-year fixed-rate mortgage averaged near 7%, down from nearly 7.80% just six weeks ago,” said Sam Khater, Freddie Mac’s chief economist. Continue Reading Mortgage Rates Continue to Plummet
Profit margin decline suggests mortgage bonanza is waning
Source: Housing Wire --- Independent mortgage banks (IMB) and mortgage subsidiaries of chartered banks saw an average net profit of $3,361 on each loan they originated in the first quarter of 2021, down from a reported gain of $3,738 per loan in the fourth quarter of...
Young military families tap veteran benefits to buy homes in a hot real-estate market
Source: CNBC --- Eddie Valdivia, 34 and his wife, Vanessa, 36, workers at the Red Cross, bought their first house last October, right in the middle of the pandemic. It’s a three-bedroom, three-bathroom house on a half-acre in Palmdale, California, about 90 minutes...
Loan Modifications Affect the Mortgage Ecosystem
Source: Scotsman Guide --- The Consumer Financial Protection Bureau (CFPB) has been closely monitoring the loan default situation and is taking various steps in a bid to prevent a wave of foreclosures that could result from borrowers exiting their mortgage forbearance...
Loan Modifications Affect the Mortgage Ecosystem
Source: Scotsman Guide --- The Consumer Financial Protection Bureau (CFPB) has been closely monitoring the loan default situation and is taking various steps in a bid to prevent a wave of foreclosures that could result from borrowers exiting their mortgage forbearance...
Redfin Survey: One-Third of Millennial Homebuyers Are Using Extra Savings From the Pandemic for Their Down Payment
Source: Redfin --- Private outdoor space is the number one feature buyers are looking for this year. Rising prices are the top concern, reflecting America’s hot housing market, with price growth hitting double digits every month this year. For nearly one-third (31%)...
Why You Should Not Pay Off Your Mortgage
Source: Forbes --- I’ve been investing in real estate for over 15 years, but at the beginning, like most people, I immediately began trying to pay off my mortgage, figuring the quicker I got rid of the debt, the better. Then, I finally realized something that has...
First-Time Homebuyer Loans & Programs
Source: Point2Homes --- Buying a home might seem simple, but there’s actually a lot more involved than you might initially think. For instance, in addition to a variety of new terms to understand, there’s also paperwork to complete and fees to pay before closing on...
What is Landlord Insurance, and How Does it Work?
Source: Point 2 Homes --- What is Landlord Insurance? Landlord insurance is a policy that is specifically designed to protect owners of rental properties. There are different levels of coverage, but for the most part, the policy is aimed at non-owner-occupied...
Combating Wire Fraud In The Mortgage Industry
Source: Forbes --- As real estate transactions have moved online, so have scammers who hope to intercept money that's meant for down payments and funding loans. According to the FBI's 2020 Internet Crime Report, nearly 14,000 people fell victim to real estate/rental...
Buying vs. Renting — How the 5% Rule Can Help You Decide
Source: Point 2 Homes--- The 5% rule was coined by Canadian investment portfolio manager Ben Felix. It stems from the general consensus among potential homebuyers that if you can afford to make mortgage payments that are equal or less than what you’re paying in rent,...
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