Mortgage Industry News
Lawsuit Accuses Veterans United Home Loans of False Representation and Steering
“We deny the accusations and look forward to disputing this through the legal process,” said a spokesperson for the company. Continue Reading Lawsuit Accuses Veterans United Home Loans of False Representation and Steering
30-Year Fixed-Rate Mortgage Sinks to 6.01%
A year ago at this time, it averaged 6.85%. Continue Reading 30-Year Fixed-Rate Mortgage Sinks to 6.01%
Report: Grand Jury Refuses to Indict Letitia James in Mortgage Fraud Case
“This should be the end of this case,” said Abbe Lowell, James’ attorney. Continue Reading Report: Grand Jury Refuses to Indict Letitia James in Mortgage Fraud Case
Mortgage Rates Drop for Second Straight Week
The 30-year fixed-rate averaged 6.19% as of Dec. 4. Continue Reading Mortgage Rates Drop for Second Straight Week
Mortgage Application Activity Slows Again
Among the federal programs, the FHA share of total applications decreased to 18.3% from 18.8% the week prior. Continue Reading Mortgage Application Activity Slows Again
VA to Publish Circular Addressing Buyer Commission Policy
The circular is planned to be issued by June 12. Continue Reading VA to Publish Circular Addressing Buyer Commission Policy
Share of Mortgages in Forbearance at 0.22%
Last month, the share of Fannie Mae and Freddie Mac loans in forbearance declined 1 basis point to 0.11%. Continue Reading Share of Mortgages in Forbearance at 0.22%
40% of New Mortgages Went to Buyers Under 35
Redfin determined the median age of first-time U.S. homebuyers last year was 35. Continue Reading 40% of New Mortgages Went to Buyers Under 35
Mortgage Rates Down Slightly, Though Still Elevated
The 30-year fixed-rate mortgage averaged 7.02%, down from last week when it averaged 7.09%. Continue Reading Mortgage Rates Down Slightly, Though Still Elevated
Mortgage Application Activity Inches Up Slightly
Mortgage applications for new home purchases in April increased 22.1% from one year earlier. Continue Reading Mortgage Application Activity Inches Up Slightly
Grant Cardone on Biden’s Homebuyer Tax Credit Plan: ‘Is Joe Dumb?’
Cardone cited homebuyer costs to dilute the impact of the Biden plan. Continue Reading Grant Cardone on Biden’s Homebuyer Tax Credit Plan: ‘Is Joe Dumb?’
Vision Mortgage Group Debuts Loan Program for First-Time Buyers
The program features a 1% down payment and 2% grant down payment assistance. Continue Reading Vision Mortgage Group Debuts Loan Program for First-Time Buyers
Rocket Mortgage Settles HUD Charges of Discrimination Against Native Americans
The settlement includes $65,000 compensation to the complainants. Continue Reading Rocket Mortgage Settles HUD Charges of Discrimination Against Native Americans
Mortgage Originations for Vacation Homes Down 40% in 2023
86% of second-home mortgages were issued last year to high-income buyers. Continue Reading Mortgage Originations for Vacation Homes Down 40% in 2023
FHLBank Cincinnati in New Endeavor Helping First-time Homebuyers
The program offers $25,000 grants to be used for down payment, closing costs or principal reduction assistance. Continue Reading FHLBank Cincinnati in New Endeavor Helping First-time Homebuyers
