Pennymac has raised its conventional loan limits to $850,000 for one-unit properties, becoming the latest major mortgage lender to move ahead of the Federal Housing Finance Agency’s official 2027 conforming loan limit announcement. The new limit is effective for...
For years, the mortgage industry has complained about the rising cost of pulling credit. Those complaints weren’t imaginary. The Mortgage Bankers Association told Congress earlier this year that its members had experienced four consecutive years of significant...
Every month, the housing industry gets another collection of national numbers. Home prices are up. Sales are down. Inventory is improving. Affordability is getting worse. Builder confidence moved. Mortgage applications changed. We report those numbers because they...
Property valuation has always been one of the stranger parts of the mortgage transaction for consumers. A buyer can negotiate a purchase price with a seller, provide months of financial documentation to a lender and get all the way through underwriting only to have...
There are some lessons the mortgage industry learned the hard way. We learned what happens when loans are made without adequately documenting income. We learned what happens when borrowers are qualified into products they do not understand or cannot reasonably afford....
Pending Home Sales Slide to Nearly Three-Year Low as Buyers Pull Back
