Mortgage Industry News
Bank of America aims mortgages, CRE loans at women and minorities
Source: American Banker --- Two new Bank of America lending programs seek to promote homeownership among minority borrowers as well as incentivize economic development in disadvantaged communities. One is a pilot program that would offer mortgages to Black and...
Reverse mortgages: Pros and cons explained
Source: CBS News --- Are you looking for ways to increase your cash flow in retirement? If you own your home (or most of it), a reverse mortgage may be able to help. It can eliminate your existing mortgage payment and generate a regular source of income. However,...
Mortgage servicers brace for fallout as Covid bailout comes to an end
Source: CNBC --- The nation’s mortgage servicers are gearing up for the biggest wave of delinquent loans since the subprime mortgage crisis, but this time they say they are ready. The first wave of borrowers to enter the government’s coronavirus mortgage bailout...
Sub-3% mortgage rate streak comes to an end
Source: MPA --- An increase in mortgage rates has ended a 10-week streak of sub-3% rates, Freddie Mac reported Thursday. For the first time since April, the benchmark 30-year fixed-rate mortgage rose above 3%, up nine basis points to 3.02%. Freddie Mac chief economist...
Homepoint unveils new service model for brokers
Source: MPA --- With refinances drying up, brokers are shifting their focus to capturing the booming purchase market. Homepoint – the nation’s third-largest wholesale lender – has launched Homepoint Amplify, a new service model that aims to help brokers do just that....
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