Citizens Survey Finds Young Homeowners Most Likely to Apply for HELOCs
Roughly 77% of millennials are likely to apply for a HELOC within next three years, according to a survey recently conducted by Citizens Bank.
As...
Independent Mortgage Banks Report Q3 2022 Losses
Independent mortgage banks (IMB) and mortgage subsidiaries of chartered banks reported a net loss of $624 on each loan they originated in the third...
Single-Family Credit Risk Transfer Program Protects $136 Billion of Loans in Q3
Freddie Mac’s Single-Family business has reported a Third Quarter 2022 CRT issuance of approximately $4.7 billion for its Credit Risk Transfer (CRT) program, protecting...
Sales of Existing Homes Continued Downward Trend in October
Existing-home sales retreated for the ninth straight month in October, according to the National Association of REALTORS. All four major U.S. regions registered month-over-month...
Housing Market Experiences Fastest Mortgage Rate Drop in Four Decades
Mortgage rates dropped from over 7% to 6.6% this week on better-than-expected inflation news, bringing some hope to prospective buyers. The largest weekly drop...
Mortgage Lending Reached Three-Year Low in Third Quarter
ATTOM’s third-quarter 2022 U.S. Residential Property Mortgage Origination Report shows that 1.97 million mortgages secured by residential property (1-4 units) were originated in the...
Sheila Klostermann: How Economic Cycles Change the Mortgage Fraud Landscape
PERSON OF THE WEEK: Although it’s nowhere near as prevalent as it once was, mortgage fraud continues to persist in a small fraction of...
MBA: Mortgage Credit Availability Dropped by Half a Percent in October
Mortgage credit availability decreased in October, according to the Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA) that analyzes...
Mortgage Balances Increased by $282 Billion in Q3 2022
The Federal Reserve Bank of New York's Center for Microeconomic Data has issued its Quarterly Report on Household Debt and Credit, showing an increase...
MeridianLink Combines Resources with FirstClose Digital Home Equity Solution
FirstClose Inc.’s FirstClose ONE Equity end-to-end digital home equity origination solution is now integrated with the MeridianLink One platform.
FirstClose's equity solution reduces operational touchpoints...
Freddie Mac Identifies Homeownership Hurdles for Gen Zers
Homeownership continues to be something to strive for among “Generation Z,” the demographic cohort following Millennials, according to a new survey from Freddie Mac.
This...
All In Credit Union Incorporates Empower LOS Tech to Optimize Loan Originations
All In Credit Union has signed a contract to implement Empower, Black Knight Inc.'s loan origination system (LOS). The credit union selected the Empower...
High Rates and Prices, Low Wage Growth Make Mortgage Payments Harder for Homebuyers
Homebuyers across the country need to earn substantially more money than they did a year ago to buy a home, due to high mortgage...
With Low Demand, Mortgage Lenders Struggle to Differentiate
The U.S. mortgage industry has gone from record volume and profits in 2021 to a 22-year low in demand for new mortgages through the...
FHFA Publicizes 2023 Multifamily Loan Caps at $150 Billion for Fannie Mae, Freddie Mac
The Federal Housing Finance Agency (FHFA) has declared the 2023 multifamily loan purchase caps for Fannie Mae and Freddie Mac will be $75 billion...
Housing Affordability Decreases to Lowest Level in a Decade
Housing affordability fell to its lowest level since the National Association of Home Builders (NAHB) began tracking it on a consistent basis in 2012...
Kathryn Edelen, Lynette Hale-Lee Promoted at Planet Home Lending
Planet Home Lending, a national mortgage originator and servicer, has promoted Kathryn Edelen to eastern divisional manager and Lynette Hale-Lee to western divisional manager. ...
FirstClose Hires James Bolger as Chief Financial Officer
James Bolger has joined FirstClose, Inc., a provider of data and workflow solutions for mortgage and home equity lenders, as chief financial officer.
Bolger has...
Mortgage Delinquency Rate Dropped to Lowest Level in Decades in Q3
The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 3.45% of all loans outstanding at the...
How Do Surety Bonds Work for Mortgage Brokers?
BLOG VIEW: A mortgage broker is an intermediary between a business and lenders during the purchase of a commercial or residential property. Like other...