Mortgage Industry News
NYC Man Pleads Guilty to Using Mortgage Fraud for Buying Maine Marijuana Grow House
Ken Yiu faces up to 30 years in prison and a maximum fine of $1 million for the mortgage fraud count and 20 years in prison and a maximum fine of $500,000 for the drug count. Continue Reading NYC Man Pleads Guilty to Using Mortgage Fraud for Buying Maine Marijuana Grow House
Mortgage Application Activity Up by Nearly 5%
The FHA share of total applications increased to 20.2% from 18.3% the week prior. Continue Reading Mortgage Application Activity Up by Nearly 5%
Mortgage Application Payment Levels Down in August
The national median mortgage payment for conventional loan applicants was $2,112, down from $2,160 in July. Continue Reading Mortgage Application Payment Levels Down in August
Mortgage Rates Inch Up Slightly
The 30-year fixed-rate mortgage averaged 6.30% as of Sept. 25, up from last week when it averaged 6.26%. Continue Reading Mortgage Rates Inch Up Slightly
CrossCountry Mortgage Raises Its Agency Conforming Loan Limits
CCM’s announcement comes months ahead of the Federal Housing Finance Agency’s official 2026 announcement. Continue Reading CrossCountry Mortgage Raises Its Agency Conforming Loan Limits
Tunnel to Towers Launches Fifth Annual Season of Hope Campaign
The foundation is planning to deliver more than 200 mortgage-free homes to families across its programs. Continue Reading Tunnel to Towers Launches Fifth Annual Season of Hope Campaign
Mortgage Application Activity at Highest Level in Six Weeks
The refinance share of mortgage activity increased to 32.4% of total applications from 31.9% in the previous week. Continue Reading Mortgage Application Activity at Highest Level in Six Weeks
NY Fed: Mortgage Rejection Rates Down Year-Over-Year
The average rejection rate of mortgage applications decreased by 2.5 percentage points to 12.1% in 2023, remaining above the 2019 rate of 10.2%. Continue Reading NY Fed: Mortgage Rejection Rates Down Year-Over-Year
New Home Purchase Applications Up Nearly 40% in October
The average loan size for new homes decreased from $397,550 in September to $390,225 in October. Continue Reading New Home Purchase Applications Up Nearly 40% in October
Mortgage Rates Drop for Third Straight Week
The 30-year fixed-rate mortgage averaged 7.44% as of Nov. 16, down from last week when it averaged 7.5%. Continue Reading Mortgage Rates Drop for Third Straight Week
Utah Leads the Nation in Home Improvement Loans
The overall average loan amount for Utah’s home improvement loans is $117,835. Continue Reading Utah Leads the Nation in Home Improvement Loans
MBA: More People Seeking Out Mortgages
“Both purchase and refinance applications increased to the highest weekly pace in five weeks,” said MBA’s Joel Kan. Continue Reading MBA: More People Seeking Out Mortgages
FHFA Sets 2024 Multifamily Loan Purchase Caps at $70 Billion Per GSE
Mortgage Bankers Association President and CEO Bob Broeksmit welcomed the announcement. Continue Reading FHFA Sets 2024 Multifamily Loan Purchase Caps at $70 Billion Per GSE
FHA Increases Allowable Fees for Inspections of Vacant Single Family Homes
The inspections are used in a servicer’s preservation and protection of property. Continue Reading FHA Increases Allowable Fees for Inspections of Vacant Single Family Homes
ATTOM: October’s Foreclosure Filings Up 6% from Last Year
Lenders repossessed 3,332 properties through completed foreclosures (REOs) last month. Continue Reading ATTOM: October’s Foreclosure Filings Up 6% from Last Year
