Mortgage Industry News
Mortgage Lending Changed. The Federal Home Loan Bank System Hasn’t Kept Up
Independent mortgage banks now originate a substantial share of American home loans but remain ineligible for Federal Home Loan Bank membership. Is a 94-year-old membership structure still right for today’s mortgage market? Continue Reading Mortgage Lending Changed. The Federal Home Loan Bank System Hasn’t Kept Up
Prosperity Home Mortgage Expands into Servicing
“Buying a home may be one transaction, but homeownership is a journey that lasts for years,” said Chris Kelly, president and CEO of HomeServices of America. “ Continue Reading Prosperity Home Mortgage Expands into Servicing
New Home Purchase Mortgage Applications Down in July
The average loan size for new homes decreased from $375,218 in June to $374,438 in July. Continue Reading New Home Purchase Mortgage Applications Down in July
Mortgage Application Activity Holds Steady
The refinance share of mortgage activity increased to 41.9% of total applications from 40.7% in the previous week. Continue Reading Mortgage Application Activity Holds Steady
Lynn Beckstead, Former President of SecurityNational Mortgage, Dies at 72
In 1993, the insurance company Security National recruited Beckstead to launch a new mortgage division. Continue Reading Lynn Beckstead, Former President of SecurityNational Mortgage, Dies at 72
Mortgage Application Activity Down by Nearly 4%
The FHA share of total applications has a slight uptick to 17.5% from 17.4% the week prior. Continue Reading Mortgage Application Activity Down by Nearly 4%
Mortgage Rates Are Back on the Rise
The 30-year fixed-rate mortgage averaged 6.52% as of June 11. Continue Reading Mortgage Rates Are Back on the Rise
Jeffrey Weidell Named 2027 Vice Chairman for the Mortgage Bankers Association
Weidell will be installed at MBA’s 113th Annual Convention and Expo in Chicago this October. Continue Reading Jeffrey Weidell Named 2027 Vice Chairman for the Mortgage Bankers Association
Buyers Paying More in Mortgage Interest Than Their Home Costs
Choosing a 15-year mortgage at today’s 5.87% rate would save $250,378 over a 30-year loan. Continue Reading Buyers Paying More in Mortgage Interest Than Their Home Costs
Mortgage Application Activity Up by Nearly 11%
The FHA share of total applications increased to 17.4% from 17.0% the week prior. Continue Reading Mortgage Application Activity Up by Nearly 11%
Mortgage Credit Availability Improved Slightly in May
“Mortgage rates reached nine-month highs over the month, which put pressure on homebuyers and reduced the demand for refinancing,” said MBA’s Joel Kan. Continue Reading Mortgage Credit Availability Improved Slightly in May
John McNeill Joins MAXEX as CFO
He recently served as CFO of the fintech Spring Oaks Capital. Continue Reading John McNeill Joins MAXEX as CFO
M&A News Reconfigures Mortgage Banking Industry
The financial terms of the two transactions were not disclosed. Continue Reading M&A News Reconfigures Mortgage Banking Industry
Former Mayor of NJ Town Sentenced in Mortgage Fraud Case
Both defendants were also ordered to pay restitution to the victims in the total amount of $221,9862.71. Continue Reading Former Mayor of NJ Town Sentenced in Mortgage Fraud Case
Suspended NYC Attorney Indicted for Stealing Over $1 Million in Mortgage Refinancings
Jose Polanco returns to court on July 15 and faces up to 8.33 to 25 years in prison if convicted. Continue Reading Suspended NYC Attorney Indicted for Stealing Over $1 Million in Mortgage Refinancings
