Mortgage Industry News
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
What Is a Reverse Mortgage & What Does It Mean to Me?
Source: The Street --- A reverse mortgage is an increasingly attractive proposition for older Americans who may be low on cash, need to supplement retirement income, and want to use their home equity to remain in the house they own. What Is a Reverse Mortgage? Reverse...
HUD Announces 30bps decrease in Mortgage Insurance Premium (MIP) for FHA Loans
The U.S. Department of Housing & Urban Development (HUD), through the Federal Housing Administration (FHA), has announced a 30-basis-point reduction to the annual mortgage insurance premiums (annual MIP) charged to homebuyers who obtain an FHA-insured mortgage....
‘Signs of resilience’: Mortgage demand plummets to lowest 2023 level as rates rise for second week — but experts predict cooling rental prices will eventually bring rates below 6%
Source: Yahoo! --- U.S. mortgage rates have inched up for the second week in a row, following reports that the economy added a staggering 517,000 jobs and inflation climbed 0.5% in January. “At this rate, Americans need to put at least 18% down on the purchase of a...
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Recent Posts
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