Mortgage Industry News
Refinancing Fuels 20.4% Upswing in Mortgage Application Activity
The seasonally adjusted Purchase Index increased 9% from one week earlier. Continue Reading Refinancing Fuels 20.4% Upswing in Mortgage Application Activity
Union Home Mortgage Acquires Nations Reliable Lending
The financial terms of the deal were not disclosed. Continue Reading Union Home Mortgage Acquires Nations Reliable Lending
Mortgage Rates Still Hovering Near the 7% Level
“We do not expect rates will decrease meaningfully in the near-term,” said Freddie Mac’s Sam Khater. Continue Reading Mortgage Rates Still Hovering Near the 7% Level
Hedge Fund-Backed News Site Coordinates Lawsuit Against United Wholesale Mortgage
While Hunterbrook shorted UWM, it simultaneously took a long position on its biggest competitor, Rocket Companies Inc. Continue Reading Hedge Fund-Backed News Site Coordinates Lawsuit Against United Wholesale Mortgage
Mortgage Application Activity is Down Again
“Elevated mortgage rates continued to weigh down on homebuying,” said MBA’s Joel Kan. Continue Reading Mortgage Application Activity is Down Again
The curious case of the enduring sub-3% mortgage rate
Source: Housing Wire --- Historically low mortgage rates had their moment in the sun in 2020. They rested far below 3% for months before America’s economic rebound pushed them back up in the winter of 2021. But data released on Thursday from Freddie Mac showed that...
Welcome Home
Source: Scotsman Guide --- Demand for single-family rental housing is rising, and the sector has emerged as a popular option for those seeking more space and an affordable place to live. During the COVID-19 pandemic, this trend has accelerated as more people flee...
Major housing program to expand to $15 billion
Source: MPA --- Bank of America Corp. is expanding a mortgage program for low- to moderate-income homebuyers in an effort to address racial wealth gaps. The lender, working with the non-profit Neighborhood Assistance Corp. of America, set a goal of providing $15...
5 ways to track and predict market changes
Source: Inman --- Agents often get questions about the future of the market from curious consumers. Knowing how to answer them is key to building trust and establishing yourself as an expert in your field. Here are a few ways to stay in the know and spot patterns and...
Don’t Forget to Budget for Closing Costs
Source: Keeping Current Matters --- When buying a home, it’s important to have a budget and make sure you plan ahead for certain homebuying expenses. Saving for a down payment is the main cost that comes to mind for many, but budgeting for the closing costs required...
Burst Past Your Production Plateau
Source: Scotsman Guide --- As a mortgage originator, your success is often measured by a single number: how many loans you’re closing in the current month. For better or worse, this number rules your thoughts, and it often reflects how you are treated by your company...
Single-Minded Focus
Source: Scotsman Guide --- Two kinds of activities, reactive and proactive, keep mortgage originators busy. Reactive activities are all about putting out fires. When you’re in reactive mode, you’re playing defense. Proactive activities are the things that bring in...
How does the FHFA 7% loan cap on GSEs affect originators?
Source: Housing Wire --- As you probably know by now, the Federal Housing and Finance Agency has limited GSEs to a 7% cap on loan purchases for second home and investment properties. This means that lenders who sell these types of loans to Fannie Mae and Freddie Mac...
How appraisers value homes in a hot housing market
Source: Housing Wire --- Robin Sheridan, a real-estate broker with Compass Washington, recently listed a three-bedroom home in Seattle for $795,000. The 76-year-old brick home had what Sheridan considered a “funky layout,” with two rooms added to the back that didn’t...
Volume-hungry mortgage lenders loosen credit standards
Source: Housing Wire --- Mortgage credit availability increased by 2.2% in April as mortgage lenders fight for borrowers in an increasingly competitive market. The Mortgage Bankers Association said Tuesday that the Mortgage Credit Availability Index (MCAI) — which...
