Mortgage Industry News
Mortgage Application Activity Remains Flat
The FHA share of total applications decreased to 16.1% from 18.4% the week prior. Continue Reading Mortgage Application Activity Remains Flat
New FICO Mortgage Simulator Previews Potential Impact of Different Credit Actions
The new tool simulates how different credit actions could impact several of the FICO Score versions used in mortgage lending. Continue Reading New FICO Mortgage Simulator Previews Potential Impact of Different Credit Actions
Report: White House Aides Furious at FHFA’s Pulte Over Backlash on 50-Year Mortgage Plan
One of the unnamed sources in Politico’s coverage complained that Pulte “sold POTUS a bill of goods that wasn’t necessarily accurate.” Continue Reading Report: White House Aides Furious at FHFA’s Pulte Over Backlash on 50-Year Mortgage Plan
Zillow Sued Over Alleged Mortgage Steering
The lawsuit seeks to expand into a class action case that would cover all US homebuyers directed by a Zillow-affiliated agent into using the company’s mortgage services. Continue Reading Zillow Sued Over Alleged Mortgage Steering
Bloom Finance Company Debuts Reverse Mortgage with Lifetime Fixed Interest Rate
The new product is designed to protect seniors by eliminating uncertainty from interest rate changes and renewal premiums. Continue Reading Bloom Finance Company Debuts Reverse Mortgage with Lifetime Fixed Interest Rate
Mortgage Applications Plunge to 27-Year Low
Among the federal programs, the FHA share of total applications increased to 14.5% from 14.1% the week prior. Continue Reading Mortgage Applications Plunge to 27-Year Low
Eric Francis Named VP of Finance at GO Mortgage
Francis was previously vice president of mortgage at A+ Federal Credit Union. Continue Reading Eric Francis Named VP of Finance at GO Mortgage
Serious Mortgage Delinquency Rate at a 23-Year Low
Idaho was the only state to see an annual uptick in its overall mortgage delinquency rate during July, albeit at a scant 0.1 percentage point. Continue Reading Serious Mortgage Delinquency Rate at a 23-Year Low
Mortgage Rates at Highest Peak in Almost 23 Years
The 30-year fixed-rate mortgage averaged 7.31% as of Sept. 28, up from last week when it averaged 7.19%. Continue Reading Mortgage Rates at Highest Peak in Almost 23 Years
CFPB Mortgage Report: Higher Closing Costs, More Denials for Insufficient Income
Average monthly mortgage payments increased more than 46% last year, from $1,400 in December 2021 to $2,045 in December 2022. Continue Reading CFPB Mortgage Report: Higher Closing Costs, More Denials for Insufficient Income
Mortgage Application Activity Declines Again
Both the seasonally adjusted and the unadjusted Purchase Index dropped 2% from one week earlier. Continue Reading Mortgage Application Activity Declines Again
Teachers Federal Credit Union Now Offering VA Loans
“It is our honor to serve those who serve our country,” said Brad Calhoun, president and CEO. Continue Reading Teachers Federal Credit Union Now Offering VA Loans
Mortgage Rates Flat, But Still Above 7%
“Given these high rates, housing demand is cooling off and now homebuilders are feeling the effect,” said Freddie Mac’s Sam Khater. Continue Reading Mortgage Rates Flat, But Still Above 7%
Mortgage Applications Up 5.4%
“Mortgage applications increased last week, despite the 30-year fixed mortgage rate edging back up to 7.31%,” said MBA’s Joel Kan. Continue Reading Mortgage Applications Up 5.4%
Forbearance Levels Continue to Decline
The forbearance share for portfolio loans and private-label securities decreased 6 basis points to 0.39%. Continue Reading Forbearance Levels Continue to Decline
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