Fannie Mae Completes Ninth CIRT Transaction of 2022
Fannie Mae has executed its ninth Credit Insurance Risk Transfer (CIRT) transaction of 2022. As part of Fannie Mae's ongoing effort to reduce taxpayer...
Bidding-War Rate Falls to Lowest Level Since April 2020
Nationwide, 44.6% of home offers written by Redfin agents faced competition in August, the lowest bidding-war rate since the beginning of the pandemic when...
FHFA Report Shows a Substantial Decrease in Mortgage Refinancing in Q2
The Federal Housing Finance Agency (FHFA) has released its second quarter 2022 Foreclosure Prevention and Refinance Report, showing that Fannie Mae and Freddie Mac...
Waterstone Mortgage Opens New Branch in Tampa
Waterstone Mortgage has opened a branch in Tampa, Fla., led by Chris Smith, regional manager, and John Utsch, branch manager.
Smith has 30 years of...
With the Average Mortgage Rate Above 6 Percent, Housing Market Faces Challenges
The results of Freddie Mac’s Primary Mortgage Market Survey (PMMS) show that the 30-year fixed-rate mortgage (FRM) averaged 6.29% with an average 0.9 point...
Fannie Mae: Probable Recession in 2023 and Declining Housing Market
Economic growth is projected to resume in the second half of 2022, but the combination of high inflation, monetary policy tightening and a slowing...
Housing Market Experiences Small Drop for Existing-Home Sales in August
Existing-home sales experienced a slight dip in August, marking the seventh consecutive month of declines, according to the National Association of REALTORS. Month-over-month sales...
August 2022 Data Shows Housing Market Potential Increased for First Time in a Year
First American’s Potential Home Sales Model for August 2022 shows that potential existing-home sales increased to a 5.61 million seasonally adjusted annualized rate (SAAR),...
Combatting the Challenges of Housing Affordability
Affordability in housing is top of mind for many both inside and outside of the mortgage industry. For many potential first-time homebuyers, the combination...
High Rates Prompt Homeowners Locked into Lower Mortgage Rates to Remain Put
Roughly six of every seven (85%) U.S. homeowners with mortgages have a mortgage interest rate far below today’s level of 6%, according to a...
Market Sees 10 Percent Drop in August for New Home Mortgage Applications
Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for August 2022 shows mortgage applications for new home purchases decreased 10.1% compared to a...
Mortgage Credit Availability Tightened in August
Mortgage credit availability tightened slightly in August compared with July, as investors reduced their offerings of ARM and non-QM loan programs.
As a result, the...
Ncontracts Promotes Melissa Outlaw to Chief Customer Officer
Melissa Outlaw has been promoted to chief customer officer at Ncontracts, a provider of integrated compliance and risk management solutions to the financial industry.
Outlaw...
Staircase Launches Tool That Automates Non-Delegated MI Underwriting
Mortgage tech firm Staircase has launched a tool that gives private mortgage insurers the ability to automate the underwriting of non-delegated mortgage insurance (MI)...
CFPB Report Shows Shift from Refinancing Activity to More Home Purchases
The Consumer Financial Protection Bureau (CFPB) has released its annual report on residential mortgage lending activity and trends for 2021, showing a shift from...
Select Portfolio Servicing Integrates Rushmore Contracts, Personnel
Select Portfolio Servicing Inc. (SPS) has entered into a definitive asset purchase agreement with Rushmore Loan Management Services LLC to acquire certain Rushmore assets,...
Home Values Continue Downward Decline in Previously Popular Areas, Zillow Reports
Home values slipped for the second consecutive month as mortgage costs continue to sideline buyers, according to Zillow's latest market report. Affordability is driving...
Rate of Critical Defects Fell Again in Q1, as Mortgage Lenders Prepare to Stretch...
The rate of critical defects in mortgage loans stood at 1.93% as of the end of the first quarter of 2022, down 0.2% compared...
SingleSource Names Jodi Bell VP of National Sales
Jodi Bell has joined SingleSource Property Solutions, a provider of residential property services supporting the U.S. housing industry, as vice president of national sales.
Bell...
Mortgage Fraud Risk Decreases 7.5 Percent from Q2 2021 to 2022
CoreLogic’s Mortgage Fraud Report shows a 7.5% year-over-year decrease in fraud risk at the end of the second quarter of 2022, as measured by...