Millions of people are leaving college and technical or trade schools with a lot of debt – and that debt is interfering with family formations and homeownership levels.
Thanks to a significant increase in home prices in most areas of the U.S., home sellers in 2015 realized an average price gain since purchase of 11%, or $20,378, according to RealtyTrac’s Year-End 2015 U.S. Home Sales Report. That’s the [Read More]
Mortgage credit availability decreased in January, according to the Mortgage Bankers Association’s (MBA) Mortgage Credit Availability Index (MCAI). The MCAI fell 0.4% compared with December to reach an index score of 123.8. Credit for conforming loans saw the greatest tightening [Read More]
Chronos Solutions, a national real estate financial services provider, has acquired Commerce Title and Closing Services from parent company, Ten-X. The deal – the terms of which were not disclosed – will significantly enhance Chronos’ presence in the California title [Read More]
Mortgage rates fell further during the week ended Feb. 4, with the average rate for a 30-year fixed-rate mortgage (FRM) reaching 3.72%, down from 3.79% the week prior, according to Freddie Mac’s Primary Mortgage Market Survey. A year ago at [Read More]
Wells Fargo will pay $1.2 billion to settle a complaint brought by the U.S. Department of Justice (DOJ) that it engaged in sloppy underwriting practices on loans backed by the Federal Housing Administration (FHA) and then sold those loans on [Read More]
U.S. home prices increased 0.8% in December compared with November and increased 6.3% compared with December 2014, according to CoreLogic’s home price index. Currently, the firm is forecasting that home prices will increase 0.2% from December 2015 to January 2016 [Read More]
After increasing dramatically during the previous three weeks, mortgage application volume decreased 2.6% for the week ended Jan. 29, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. The previous week, the MBA adjusted its index to account [Read More]
PERSON OF THE WEEK: Lionel Urban is CEO, founding partner and chairman of the board for PCLender, a provider of loan origination technology to the mortgage industry. During his nearly 30 years in the mortgage banking industry, Urban has acquired [Read More]
BLOG VIEW: Just over one month ago when most Americans were in the midst of the usual holiday bustle, the Federal Reserve voted to raise the central bank’s benchmark interest rate (from a 0%-0.25% range to a 0.25%-0.5% range) after [Read More]
As the mortgage industry becomes more female-centric, the potential for women to attain executive-level positions has increased.