Mortgage Industry News
Second Prosecutor Balks at Trump Pressure to Indict Letitia James for Mortgage Fraud
Elizabeth Yusi has been with the Department of Justice for 18 years and has been a US Assistant Attorney for the last 10 years. Continue Reading Second Prosecutor Balks at Trump Pressure to Indict Letitia James for Mortgage Fraud
First Residential Independent Mortgage, a New Lender, Begins Operations
The new company will specialize in conventional and FHA loans and will offer down payment assistance loan products through its existing partnerships. Continue Reading First Residential Independent Mortgage, a New Lender, Begins Operations
Mortgage Rates in Mild Decline
The 30-year fixed-rate mortgage averaged 6.85% as of June 5, down from last week when it averaged 6.89%. Continue Reading Mortgage Rates in Mild Decline
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
This Cost-Lowering Idea Could Prove Risky
Source: Scotsman Guide --- The Federal Housing Finance Agency, Fannie Mae and Freddie Mac are taking steps to ensure that everyone has access to affordable housing — especially low- and moderate-income families. Certain components of these initiatives, however,...
Want a Lower Interest Rate? Try This Strategy
Source: The Ascent --- With mortgage rates hitting 20-year highs, the monthly payment for a $500,000 home is $1,000 higher than it was for the same loan a year ago. Are you looking for ways to lower your monthly mortgage payments? A mortgage buydown may be the answer....
Single Renters pay a ‘singles tax’ of nearly $7,000 for living alone
Zillow has uncovered a heartbreaking truth for apartment-hunting singles: Renters living in a one-bedroom on their own face a yearly "singles tax" of nearly $7,000, according to an analysis by Zillow. While singles across the country pay a high price for a solo...
Rocket Companies Announces CEO Transition Plan
ay Farner, CEO of Rocket Companies, plans to retire from his position effective June 1, 2023 after 27 years with the company. Rocket Companies is a Detroit-based fintech platform company consisting of tech-driven mortgage, real estate and financial services...
Alliance Bring $3.8M in Affordable Housing Funding to DC Suburb
Home buyers in search of affordable housing in the DC Metro may find more homes in their price range soon. The City of Falls Church has launched an Affordable Homeownership Program (CFCAHP), which will make $3.8 million available to support affordable homeownership....
Does being married help or hinder when it comes to a mortgage?
Source: Yahoo! News --- With Valentine’s Day on the horizon, and the inevitable influx of proposals and engagements that come along with it, it’s worth knowing whether tying the knot has an impact when it comes to buying a new home. We asked some experts in-the-know...
Mortgage advice that you should think twice about following
Source: Mortgage Introducer --- Social media has given a platform for a lot of people claiming or making it appear that they are ‘experts’ on certain subjects, including mortgages. People can watch them anytime and anywhere, so the potential to reach a lot of...
Why growth of reverse mortgages is surging despite rapid rise in interest rates
Source: The Globe and Mail --- Reverse mortgages have always been a controversial financial product, but that hasn’t stopped their expansion in Canada or from becoming a growing source of interest among advisors as a potential recommendation for certain clients. A...
What is a good income to buy a house? You’ll need at least $100,000 in nearly 40% of markets
Source: USA Today --- Even as mortgage rates doubled since the start of the year, home prices grew in nine out of 10 metro markets in the fourth quarter of 2022, according to the National Association of Realtors’ latest quarterly report. Eighteen percent of the 186...
Spring homebuying and selling season is here. Are you ready?
Source: CNN Business --- Super Bowl weekend is the unofficial kick-off to the peak spring home buying and selling season, according to many real estate agents. Are you ready? If you’re feeling unsure and confused, you’re not alone. The US housing market is giving off...
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