Mortgage Industry News
Ex-NASA Manager and Husband Plead Guilty in Mortgage Fraud Case
Khan and Mayberry face up to five years in federal prison and a possible $250,000 maximum fine in addition to the possible forfeiture of their luxury home. Continue Reading Ex-NASA Manager and Husband Plead Guilty in Mortgage Fraud Case
Mortgage Rates Continue to Fall
The 30-year fixed-rate mortgage averaged 6.26% as of Sept. 18, down from last week when it averaged 6.35%. Continue Reading Mortgage Rates Continue to Fall
Report: Fewer Home Purchase Loans During Q1
ATTOM found the total dollar value of loans was down by 18% to $478 billion. Continue Reading Report: Fewer Home Purchase Loans During Q1
Mortgage Application Activity Slows for Third Straight Week
Among the federal programs, the FHA share of total applications increased to 18.7% from 17.9% the week prior. Continue Reading Mortgage Application Activity Slows for Third Straight Week
Mortgage Rates Inches Up, Homebuyer Affordability Inches Down
The 30-year fixed-rate mortgage averaged 6.89% as of May 29. Continue Reading Mortgage Rates Inches Up, Homebuyer Affordability Inches Down
United Wholesale Mortgage Launches Conventional 1% Down
Mat Ishbia, president and CEO of UWM, said the company will “continue developing products and solutions that will help get more borrowers into homes faster, easier and cheaper.” Continue Reading United Wholesale Mortgage Launches Conventional 1% Down
Planet Home Lending Debuts 1st Year Flex Program
“We’re committed to finding innovative solutions to help more borrowers purchase a home,” said Michael Dubeck, CEO and President of Planet Financial Group. Continue Reading Planet Home Lending Debuts 1st Year Flex Program
BNC National Bank Sells Its Mortgage Division
BNC Chairman Michael Vekich said this was in the “best long-term interests of BNC Bank, BNCC’s shareholders, and the communities we serve.” Continue Reading BNC National Bank Sells Its Mortgage Division
Mortgage Credit Availability Up Slightly, But Still Near 10-Year Low
“Mortgage credit supply increased modestly in March but remained close to its tightest levels since 2013,” said MBA’s Vice President and Deputy Chief Economist Joel Kan. Continue Reading Mortgage Credit Availability Up Slightly, But Still Near 10-Year Low
Survey Finds Steady Optimism Among First-Time Homebuyers
Nearly half of survey respondents have begun to save for a down payment. Continue Reading Survey Finds Steady Optimism Among First-Time Homebuyers
Study: 1 in 3 Homebuyers Unaware of Affordable Home Lending Offerings
KeyBank is observing April’s Fair Housing Month by expanding its Special Purpose Credit Programs for qualifying properties in eligible communities. Continue Reading Study: 1 in 3 Homebuyers Unaware of Affordable Home Lending Offerings
Homepoint Sells Wholesale Business to The Loan Store
Homepoint will hold an equity interest in The Loan Store. Continue Reading Homepoint Sells Wholesale Business to The Loan Store
NY Times Publishes Report Claiming Age Discrimination in Mortgage Applications
The Times did not include any input from mortgage professionals in its coverage. Continue Reading NY Times Publishes Report Claiming Age Discrimination in Mortgage Applications
Freddie Mac Reports Mortgage Rate Drop
“Mortgage rates continue to trend down entering the traditional spring homebuying season,” said Sam Khater, Freddie Mac’s chief economist. Continue Reading Freddie Mac Reports Mortgage Rate Drop
Production Profits Plummet for Independent Mortgage Banks
“For the first time since the inception of MBA’s report in 2008, net production income was in the red in 2022, with losses averaging 13 basis points,” said MBA’s Marina Walsh. Continue Reading Production Profits Plummet for Independent Mortgage Banks
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