Mortgage Industry News
Rocket Mortgage Introduces Purchase Plus, a Special purpose credit program that offers up to $7,500 in lender credits for first-time buyers in underserved communities
Special purpose credit program offers up to $7,500 in lender credits for first-time buyers in underserved communities to eliminate a significant hurdle to homeownership “Homeownership has a significant impact on strong communities and the creation of generational...
South Africa’s Flow gets funding to automate social media advertising for real estate agencies
Source: Tech Crunch --- The process used by millions of agents and thousands of property portals globally to reach buyers and sellers on digital channels is highly fragmented. And it’s evident that proptech, unlike other industries, has lagged in utilizing social...
Housing Market Update: Nearly 1 in 5 Sellers is Dropping Their Price, the Highest Rate Since October 2019
Source: Redfin --- Measures of homebuying competition are plateauing as early-stage demand posts its biggest annual decline since April 2020. However, mortgage rates may have leveled off, which could prevent demand from dropping even further. The housing market is...
The housing market just slid into a full-blown correction, says top economist Mark Zandi
Source: Fortune --- Moody's Analytics chief economist Mark Zandi is ready to call it. He tells Fortune that we've officially moved from a housing boom into a "housing correction." The real estate data rolling in for April and May shows that the U.S. housing market is...
Prequal, Profitability, Due Diligence, Underwriting Tools; FHFA News: Appraisal Management
Source: Mortgage News Daily --- Yesterday I visited Sacramento to speak to an audience of real estate agents and originators in a joint MGIC/Golden 1 Credit Union event. The mood was good, and much of the discussion was about rent (give or take a little, 50 percent...
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