Mortgage Industry News
Report: Refinance Retention at 3.5-Year High
Non-banks retained refinancing borrowers at roughly three times the rate of banks (35% versus 13%). Continue Reading Report: Refinance Retention at 3.5-Year High
United Wholesale Mortgage’s Ishbia: Trump and Pulte ‘Care About the Housing Market’
“They’re thinking about things that we’ve all talked about in our industry,” he said. Continue Reading United Wholesale Mortgage’s Ishbia: Trump and Pulte ‘Care About the Housing Market’
Commercial and Multifamily Mortgage Debt Outstanding Increased During Q2
The level of commercial/multifamily mortgage debt outstanding reached $4.88 trillion by the end of the second quarter, an increase of $47.1 billion (1%) from the first quarter, according to data from the Mortgage Bankers Association (MBA). Multifamily mortgage debt...
New Pilot Program Aimed at Expanding Homeownership in Detroit
The mortgage product will provide qualified borrowers with up to 40% of a home’s purchase price in down payment assistance without adding any monthly debt. Continue Reading New Pilot Program Aimed at Expanding Homeownership in Detroit
A Phil Hall Op-Ed: The Smearing of Erik Siebert
The Interim US Attorney was slandered by President Trump after concluding the mortgage fraud case against Letitia James would not stand up in court. Continue Reading A Phil Hall Op-Ed: The Smearing of Erik Siebert
Q3 Housing: Fewer Equity-Rich Homes, Less Underwater Mortgages
Only 2.5% of all residential mortgages, or one in 40, were considered seriously underwater in the third quarter. Continue Reading Q3 Housing: Fewer Equity-Rich Homes, Less Underwater Mortgages
MBA: Purchase Loan Applications at Lowest Level Since 1995
Refinance applications were at their lowest level since January. Continue Reading MBA: Purchase Loan Applications at Lowest Level Since 1995
loanDepot Unveils accessZERO Program to Assist Homebuyers
The new program is available nationwide for Federal Housing Administration purchase mortgages. Continue Reading loanDepot Unveils accessZERO Program to Assist Homebuyers
Rocket Mortgage Upgrades Pathfinder Tool with AI Chat Interface
A new AI chat interface in Pathfinder is being tested to help mortgage bankers and brokers answer client questions. Continue Reading Rocket Mortgage Upgrades Pathfinder Tool with AI Chat Interface
CMHC Chief Romy Bowers Leaving for IMF Position
Bowers joined CMHC in 2015 as the agency’s chief risk manager and took on the chief executive duties in 2020. Continue Reading CMHC Chief Romy Bowers Leaving for IMF Position
Cenlar Taps David Schneider as President
Schneider joined the company earlier this year as chief financial officer. Continue Reading Cenlar Taps David Schneider as President
Mortgage Rates Keep Climbing to the 8% Mark
The 30-year fixed-rate mortgage averaged 7.79% as of Oct. 26, up from last week when it averaged 7.63%. Continue Reading Mortgage Rates Keep Climbing to the 8% Mark
Southern First Bancshares Opens Dream Mortgage Center
The center will provide homebuyer education and outreach in an underserved community of South Carolina. Continue Reading Southern First Bancshares Opens Dream Mortgage Center
Mortgage Application Activity Continues to Slump
MBA’s Joel Kan said applications dropped “to the slowest weekly pace since 1995.” Continue Reading Mortgage Application Activity Continues to Slump
‘Family Guy’ Takes Aim at Reverse Mortgages
A Tom Selleck parody convinced Peter Griffin to consider “Hey Alright Reverse Mortgages – or HARM.” Continue Reading ‘Family Guy’ Takes Aim at Reverse Mortgages
