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Banks report rise in mortgage delinquencies

Housing Wire

Banks reported an increase in foreclosures during the first quarter of 2022, according to a quarterly survey published by the Office of the Comptroller of Currency this week. Most industry observers predicted that the national foreclosure rate would rise once foreclosure moratoriums ended on July 31, 2021. Presented by: Auction.com.

Banks 397
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A closer look at investor attitudes and trends in reverse mortgage stocks

Housing Wire

In the case of FOA — the current industry leader — the earnings results were robust. While Ellington’s results were softer in comparison , company leaders remain bullish on profitability prospects for Longbridge and the wider industry. With several top 10 reverse mortgage lenders now active in some form within the U.S.

Investor 370
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Opinion: Mortgage industry will shed 100K jobs this year

Housing Wire

So is the 24-month refinance market, the biggest of its kind in all of mortgage banking history. And this time, the most wonderful time of the year gives way to what, in the mortgage industry, could be the most awfullest time of the year. The mortgage industry has been going through these cycles since the 1980s.

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How AI implementation could impact the mortgage industry

Housing Wire

While it will take time to fully implement AI in the mortgage industry, the most practical use of AI in the mortgage process is document and data point recognition — or finding data and figuring out what the data is, according to a new Stratmor report on the potentials and limitations of AI.

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Opinion: The Fed broke the banks. What’s next for mortgage?

Housing Wire

Many have already pointed to the failures of Silicon Valley Bank , Silvergate Bank , and Signature Bank as evidence that the Fed “finally broke something.” Instead, we will undergo a traumatic reshaping of the industry not seen since the savings and loan crisis of the 1980s.

Banks 418
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How to become a real estate broker & launch a brokerage — Advice from a KW mega broker

Housing Wire

To excel, you must enter the industry with four main elements: a clear vision, a recognizable brand, an inspired team, and the systems to support them. If you live in one those states, leveling up your career might mean studying to become a Managing Broker or Principal Broker. The industry is constantly evolving.

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Mortgage industry excitement is subsiding about expected Fed rate cuts in 2024

Housing Wire

A fresh set of quarterly economic projections from Fed officials showed that borrowing costs are expected to end the year at 4.6%, suggesting that the central bank still plans to make three cuts of 25 basis points (bps) each in 2024.