Mortgage Industry News
Report: Ontario Households Spend More Than 50% of After-Tax Earnings for Mortgage Payments
“There is a perception that housing outside of the GTA is still somewhat affordable, but that’s not true,” said Austin Thompson, senior policy analyst with the Fraser Institute. Continue Reading Report: Ontario Households Spend More Than 50% of After-Tax Earnings for Mortgage Payments
Report: DOJ and FBI Probing Pulte for Possible Misconduct in Mortgage Fraud Referrals
Pulte did not issue any public response to the story. Continue Reading Report: DOJ and FBI Probing Pulte for Possible Misconduct in Mortgage Fraud Referrals
Mortgage Application Activity Drops by 1.2%
The FHA share of total applications increased to 19.9% from 19.1% the week prior. Continue Reading Mortgage Application Activity Drops by 1.2%
PennyMac Correspondent Group to Launch Non-QM Products
Pennymac intends to retain servicing on all non-QM products. Continue Reading PennyMac Correspondent Group to Launch Non-QM Products
Mortgage Originations Up 19% During Q2
A total of 689,217 refinance loans were issued in the second quarter, up 16.4% from the prior quarter. Continue Reading Mortgage Originations Up 19% During Q2
A Phil Hall Op-Ed: A Future That Could Have Been
Mark Olson, co-chairman of the board of Corporate Risk Advisors, said, “Anything with a discreet income stream can be privatized.” Continue Reading A Phil Hall Op-Ed: A Future That Could Have Been
Guild Mortgage Acquires First Centennial Mortgage
San Diego-headquartered Guild Mortgage (NYSE: GHLD) has acquired First Centennial Mortgage, an Illinois-based privately held residential mortgage lender focused on the Midwest markets. First Centennial Mortgage was founded by brothers Steven and David McCormick in...
Zillow Home Loans Debuts 1% Down Payment Program
The program is initially being offered on properties located in Arizona, with plans to expand to additional markets. Continue Reading Zillow Home Loans Debuts 1% Down Payment Program
Mortgage Rates at 22-Year High as New Home Sales Reach 17-Month Peak
There were 714,000 new single-family home sales last month, up 31.5% from July 2022. Continue Reading Mortgage Rates at 22-Year High as New Home Sales Reach 17-Month Peak
Zombie Property Levels in Slight Rise
315,425 residential properties are in the process of foreclosure in the third quarter of this year. Continue Reading Zombie Property Levels in Slight Rise
MBA: Purchase Loan Applications at 28-Year Low
The adjustable-rate mortgage share of activity increased to 7.6% of total applications, its highest level in five months. Continue Reading MBA: Purchase Loan Applications at 28-Year Low
Foreclosure Inventory Hits 15-Month Low
Among the states, Mississippi had the highest non-current percentage at 7.65% and Colorado had the lowest with 1.95%. Continue Reading Foreclosure Inventory Hits 15-Month Low
MBA: Loans in Forbearance Account for 0.39% of Servicers’ Portfolio Volume
The states with the lowest share of loans that were current were Louisiana, Mississippi, Indiana, New York, and West Virginia. Continue Reading MBA: Loans in Forbearance Account for 0.39% of Servicers’ Portfolio Volume
MBA: Independent Mortgage Banks Record Lower Production Losses in Q2
“There were signs of improvement in the second quarter of 2023,” said MBA’s Marina Walsh. Continue Reading MBA: Independent Mortgage Banks Record Lower Production Losses in Q2
Survey: Nearly Half of Canadians Have Regrets Over Their Mortgages
“Having blind faith in banks could be an expensive mistake for homebuyers,” said Joe White, president and CEO of REMIC. Continue Reading Survey: Nearly Half of Canadians Have Regrets Over Their Mortgages
