As Mortgage Rates Continued to Climb, Affordability Fell in September
Homebuyer affordability dropped in September, as the national median payment applied for by applicants increased 5.5% to $1,941 from $1,839 in August. This is...
Pending Home Sales Dropped Over 10 Percent in September, NAR Shows
Pending home sales trailed off for the fourth consecutive month in September, according to the National Association of REALTORS. All four major regions recorded...
Number of Mortgage Applications Declined Again, MBA Reports
Mortgage applications decreased 1.7% on a seasonally adjusted basis from a week ago, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage...
California Court of Appeals Invalidates Default Interest Provision
Default interest is a hot button for borrowers, lenders, and the courts. Most courts inherently do not like default interest because they see it...
FHFA House Price Index Rose 11.9 Percent from 2021 to 2022
House prices fell nationwide in August, down 0.7% from the previous month, according to the latest Federal Housing Finance Agency House Price Index (FHFA...
Ginnie Mae Changes Increase Issuer Liquidity to Strengthen Mortgage Sector
Ginnie Mae is shortening the re-pooling seasoning requirement for re-performing loans from six months to three months and allowing issuers the option to pool...
Restora Wins Bid for Latest Fannie Mae Community Impact Pool
The winning bidder for Fannie Mae’s 20th Community Impact Pool (CIP) of non-performing loans is Restora LLC, which is majority owned by Restorative Neighborhood...
Certain Opportunities Exist for Originations Despite Slowing Housing Market
Low interest rates and high demand for homes propelled mortgage origination activity during the pandemic, only to slow dramatically in 2022 during an environment...
Stew Scott: Technology Helps Lenders Maintain Loan Quality During Volume Spikes
PERSON OF THE WEEK: It is well established that technology and automation can help mortgage lenders process loans faster and reduce operating costs -...
MBA Forecasts 9 Percent Decline in 2023 Mortgage Originations Due to Recession
The Mortgage Bankers Association (MBA) is expecting total mortgage origination volume to decline to $2.05 trillion in 2023 from the $2.26 trillion expected in...
Evolve Mortgage Services, FirstClose Collaborate on Digital eHELOC Solution
Evolve Mortgage Services LLC, a provider of outsourced mortgage solutions and eMortgage technology solutions, is partnering with FirstClose Inc., a fintech provider of data...
Fannie Mae Wraps Up Latest Credit Insurance Risk Transfer Transaction
Fannie Mae has executed its tenth Credit Insurance Risk Transfer (CIRT) transaction of 2022. CIRT 2022-10 transferred $265 million of mortgage credit risk to...
Existing-Home Sales Experienced Eighth Straight Month of Declines in September
Existing-home sales descended in September, the eighth month in a row of declines, according to the National Association of REALTORS. Three out of the...
FormFree AccountChek Helps Lenders Following Freddie Mac Underwriting Change
Mortgage lenders can now use FormFree’s AccountChek to help qualify more borrowers for home financing as a result of a recently announced Freddie Mac...
Big Purple Dot Launches Mortgage Recruiting Platform with CoreLogic Data
Big Purple Dot, a provider of an ecosystem of mortgage marketing technologies, has tapped CoreLogic, a global property information, analytics and data-enabled solutions provider,...
Market Sees 13 Percent Drop in New Home Mortgage Applications Since Last Year
Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for September 2022 shows mortgage applications for new home purchases decreased 13.2% compared from a...
September Home Sales, Listings Down Significantly Year Over Year
Home sales and listings in September both slumped the most on record with the exception of the early months of the pandemic as rapidly...
How Mortgage Servicers Can Navigate Rising ARMs Successfully
Adjustable-rate mortgages (ARMs) are making a comeback. In 2021, when the average 30-year fixed mortgage rate was 2.65%, there was little demand for ARMs....
MBA Promotes Joel Kan to Vice President, Deputy Chief Economist
Joel Kan has been promoted to vice president, deputy chief economist, at the Mortgage Bankers Association (MBA).
Kan was previously associate vice president of economic...
Vesta, CoreLogic Streamline Originations with Product Integration
Vesta, a loan origination system (LOS) and software-as-a-service company, has integrated with the CoreLogic suite of property information, analytics and hazard risk solutions products...