Mortgage Industry News
FHA Proposes Policy Updates to HECM Program
The updates seek to “streamline certain requirements and reduce operational challenges associated with servicing a HECM portfolio.” Continue Reading FHA Proposes Policy Updates to HECM Program
Q3 Housing: Fewer Equity-Rich Homes, Less Underwater Mortgages
Only 2.5% of all residential mortgages, or one in 40, were considered seriously underwater in the third quarter. Continue Reading Q3 Housing: Fewer Equity-Rich Homes, Less Underwater Mortgages
LoanDepot Director Pamela Hughes Patenaude Named Board Chair of Home Builders Institute
Feb. 3, 2023 (Staff Writer) -- loanDepot, Inc. (NYSE: LDI) ("loanDepot" or the "Company"), one of the nation's largest non-bank retail mortgage lenders, today issued the following statement from CEO Frank Martell on the news that Pamela Hughes Patenaude, an...
Mortgage overpayments surge as borrowers fend off rising interest bills
Source: Financial Times --- Mortgage borrowers scrambled to pay down their housing debt after interest rates on home loans soared, with lump-sum repayments and redemptions jumping to £2.4bn in October last year from £1.7bn in the same month in 2021. The figures from...
Mortgage borrowing falls by £1bn as property market slowdown continues
Source: Money Week --- The latest data from the Bank of England (BoE) shows a growing number of people are questioning whether now is a good time to buy a house, adding more uncertainty to the property market’s outlook for 2023. The BoE’s Money and Credit report...
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