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Report: Mortgage Debt Accounted for Nearly Three-Quarters of All Consumer Debt in August
In August, total US consumer debt totaled $17.91 trillion, up 2.1% year-over-year. Continue Reading Report: Mortgage Debt Accounted for Nearly Three-Quarters of All Consumer Debt in August
Mortgage Application Activity Slows Down Again
Among the federal programs, the FHA share of total applications increased to 18.5% from 16.8% the week prior. Continue Reading Mortgage Application Activity Slows Down Again
Additional Reading: Top Mortgage Industry News & Headlines
Barry Habib Added to Fannie Mae’s Board of Directors
There was no formal press statement on the appointment. Continue Reading Barry Habib Added to Fannie Mae’s Board of Directors
Mortgage Rates Remain Flat
Fannie Mae predictied mortgage rates will end 2025 and 2026 at 6.4% and 6.0%, respectively. Continue Reading Mortgage Rates Remain Flat
Mortgage Application Activity Inches Up Again
The FHA share of total applications decreased to 18.7% from 19% the week prior. Continue Reading Mortgage Application Activity Inches Up Again
Slight Uptick in Mortgage Application Activity
“The level of ARM applications increased by 15% over the week,” said MBA’s Joel Kan. Continue Reading Slight Uptick in Mortgage Application Activity
CFPB Sues Freedom Mortgage Over ‘Providing False Data’
Director Rohit Chopra said his agency “will continue to focus on ending the cycle of misconduct by repeat offenders in the financial industry.” Continue Reading CFPB Sues Freedom Mortgage Over ‘Providing False Data’
Mortgage Credit Availability Up Slightly in September
“There were more loan programs for ARM loans for borrowers seeking lower initial monthly payments,” said MBA’s Joel Kan. Continue Reading Mortgage Credit Availability Up Slightly in September
titleLOOK Expands Title Report Reviews to Mortgage Banking Sector
The Bangor, Maine-based titleLOOK by Mainspring Services announced that it is now offering its automated title review to lenders, government-sponsored enterprises and other organizations in the mortgage banking sector. titleLOOK was launched in 2021 and was initially...
Housing Trade Groups Warn Powell That Fed Policies Fuel ‘Ongoing Market Uncertainty’
“Today, the spread between 30-year mortgage rates and 10-year Treasury yield is at historically high levels,” the trade groups warned. Continue Reading Housing Trade Groups Warn Powell That Fed Policies Fuel ‘Ongoing Market Uncertainty’
Fannie Mae’s Home Purchase Sentiment Index Sinks Under Mortgage Rate Pressure
“Mortgage rates persistently over 7% appear to be deepening the malaise consumers feel about the home purchase market,” said Fannie Mae’s Doug Duncan. Continue Reading Fannie Mae’s Home Purchase Sentiment Index Sinks Under Mortgage Rate Pressure
Arch Capital Group Names Seamus Fearon CEO of International Mortgage
Fearon will have responsibility for managing Arch’s Australian and European mortgage operations. Continue Reading Arch Capital Group Names Seamus Fearon CEO of International Mortgage
Fintech PADS Financial Debuts Platform for Mortgage Origination and Servicing
The company secured an initial round of financing of $3 million from investors within the Quebec real estate market. Continue Reading Fintech PADS Financial Debuts Platform for Mortgage Origination and Servicing
30-Year Fixed-Rate Mortgage Surges to 7.49%
Sam Khater, Freddie Mac’s chief economist, noted the market is facing “the highest mortgage rates in a generation.” Continue Reading 30-Year Fixed-Rate Mortgage Surges to 7.49%
John Cady Named President of Citywide Home Loans
“The company is the perfect mix of culture, service and programs that many mortgage professionals have been looking for,” said Cady. Continue Reading John Cady Named President of Citywide Home Loans
