Housing Wire

JUNE 30, 2022

FGMC, controlled by global investment management firm PIMCO, said it had “significant operating losses and cash flow challenges due to unforeseen historical adverse market conditions for the mortgage lending industry, including unanticipated market volatility.”.

Bankruptcy 545

Bankruptcy Fixed-rate mortgage Lending Loans 545

Housing Wire

JULY 29, 2021

The average 30-year fixed-rate mortgage increased slightly to 2.80% for the week ending on July 29, halting a streak of weekly declines, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. A year ago at this time, the 30-year fixed-rate mortgage averaged 2.99%.

Fixed-rate mortgage 448

Fixed-rate mortgage Mortgages Investor Lending 448

Housing Wire

FEBRUARY 10, 2021

Perry brings 25 years of legal experience in the financial services industry, with expertise in fair housing and community development. She previously advised on solutions for complex corporate finance transactions with firms such as JPMorgan Chase. Perry joined Freddie Mac in 2011 to oversee the company’s fair lending program.

Equity 529

Equity Fixed-rate mortgage Investor Development 529

Housing Wire

SEPTEMBER 9, 2021

The average 30-year fixed-rate mortgage was stagnant at 2.88% for the week ending Sept. 9, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The week prior , mortgage rates also held steady at 2.87%. A year ago at this time, the 30-year fixed-rate mortgage averaged 2.86%.

Fixed-rate mortgage 493

Fixed-rate mortgage Mortgages Equity Lending 493

Housing Wire

FEBRUARY 3, 2022

Inside Mortgage Finance reported that Santander residential production totaled $2.7 Santander’s decision regarding mortgage and home equity is another sign that the good times of the U.S. mortgage industry are in the past. The 30-year fixed rate mortgage is estimated to hit 4% this year, compared to 3.1%

Banks 468

Banks Mortgages Fixed-rate mortgage Equity 468

Housing Wire

DECEMBER 15, 2021

“Fewer homeowners have a strong incentive to refinance at current rates,” Joel Kan, the MBA’s associate vice president of economic and industry forecasting, said in a statement. The trade group estimates that the average contract 30-year fixed-rate mortgage for conforming loans ($548,250 or less) remained unchanged at 3.30%.

VA loan 435

VA loan FHA loan Fixed-rate mortgage Loans 435

Housing Wire

OCTOBER 5, 2023

Fannie Mae’s maximum LTV ratio for a single-unit home with a fixed-rate mortgage remains unchanged at 97%. Earlier this week, Fannie Mae released its October 2023 update to the Selling Guide aiming to reflect changes in the mortgage industry, its surrounding regulatory environment and Fannie Mae policy positions.

Loans 476

Loans Fixed-rate mortgage Principal Renovation 476

Housing Wire

FEBRUARY 3, 2023

The past few years in the housing industry have been nothing short of unprecedented. In 2020 and 2021, many homeowners refinanced, locking in historically low 30-year fixed rate mortgages. There is risk involved as HELOCs are tied to the prime rate and can continue to rise. Steve Kaminski is head of U.S.

Renovation 397

Renovation Fixed-rate mortgage Equity Finance 397

Housing Wire

AUGUST 29, 2024

The increase in overall lending in Q2 came amid the Spring homebuying season and lower mortgage interest rates that dipped downward after months of increases, according to Attom ’s Q2 residential property mortgage origination report. million residential mortgages in Q2 2024, up from 1.31 from 12 months ago and 61.2%

Mortgages 431

Mortgages Fixed-rate mortgage Lending Residential 431

Housing Wire

DECEMBER 14, 2023

The holidays have come early for the mortgage industry. Mortgage rates fell below the 7% threshold this week as markets prepared for Federal Reserve Chairman Jerome Powell’s announcement on Wednesday. The 30-year, fixed mortgage rate averaged 6.95% for the week ending Dec. on Thursday.

Mortgages 501

Mortgages Fixed-rate mortgage Loan Officer MLS 501

Housing Wire

SEPTEMBER 30, 2022

The latest weekly survey data from Freddie Mac shows the 30-year fixed-rate mortgage jumped 40 basis points to an average of 6.70% this week, the highest level since 2007. The survey also indicates a large dispersion in rates, meaning that homebuyers can save hundreds of dollars by shopping around with different lenders.

Mortgages 482

Mortgages Fixed-rate mortgage Loans Loan Officer 482

Housing Wire

SEPTEMBER 29, 2023

Higher down payments and surging monthly mortgage payments are throttling borrowers’ personal finances, and prospective buyers are turning to family members to gift funds or sign up to be non-occupant co-borrowers. There’s growing concern in the mortgage industry that rates could even touch 8% before they fall below 7%.

Loan Officer 435

Loan Officer Mortgages Fixed-rate mortgage Loans 435

Housing Wire

JANUARY 4, 2023

The last week of the calendar year is usually a slow time for the mortgage industry, but 2022 was something else. That’s because costs for borrowers were higher, reflecting the mortgage market’s response to the Federal Reserve ‘s tightening monetary policy. It represented the lowest level of activity in 27 years.

Mortgages 529

Mortgages Fixed-rate mortgage Loans Equity 529

Housing Wire

JUNE 15, 2022

In 2021, more than 90% of borrowers who closed a loan with fintech mortgage lender Neat Loans opted for a 30-year fixed-rate mortgage. The way ARMs work is lenders offer lower mortgage rates for the initial three, five, seven years. The mortgage industry is different from 14 years ago.

Fixed-rate mortgage 370

Fixed-rate mortgage Mortgages Loans Loan Officer 370

Housing Wire

FEBRUARY 26, 2021

In Mississippi, single women on average paid 3.47% on a 30-year, conventional fixed-rate mortgage in 2019. Over the lifespan of the mortgage, the single woman in this instance will have roughly $7,000 more in mortgage payments than the single man. The main reason? What are we talking about?'” ” he said.

Mortgages 514

Mortgages Lending Fixed-rate mortgage Loans 514

Housing Wire

JANUARY 26, 2022

According to Joel Kan, MBA’s associate vice president of economic and industry forecasting, all mortgage rates continue to climb, but the 30-year fixed rate rose for the fifth consecutive week to its highest level since March 2020. The keys to lending in a post-refi boom world. Presented by: CIVIC Financial.

Mortgages 370

Mortgages Fixed-rate mortgage Loans Lending 370

Housing Wire

JUNE 26, 2023

This is according to the Federal Housing Finance Agency (FHFA) Q1 2023 Foreclosure Prevention and Refinance Report, which was published late last week. The serious delinquency rate also decreased to 0.6% Additionally, initiated forbearance plans decreased in Q1 to 34,479, from 47,068 in Q4 2022.

VA loan 370

VA loan FHA loan Fixed-rate mortgage Principal 370

Housing Wire

AUGUST 7, 2023

Without a strong secondary mortgage market supported by the federal government, lenders would be able to fund far fewer loans, and would likely flock to the most affluent areas in the country, leaving less-affluent markets with fewer options to finance a home. Fixed-rate mortgages provide stability and predictability.

Closing 370

Closing Fixed-rate mortgage Debt-to-income ratio Lending 370

Housing Wire

JUNE 6, 2022

Fintech lender Figure Technologies and multichannel originator Homebridge Financial Services last August announced a merger that they claimed would usher in monumental change to the mortgage industry. According to Inside Mortgage Finance , Homebridge was the 36th-largest mortgage originator in 2021, originating about $23.5

Fixed-rate mortgage 418

Fixed-rate mortgage Lending Technology Loans 418

Housing Wire

FEBRUARY 10, 2021

Perry brings 25 years of legal experience in the financial services industry, with expertise in fair housing and community development. She previously advised on solutions for complex corporate finance transactions with firms such as JPMorgan Chase. Perry joined Freddie Mac in 2011 to oversee the company’s fair lending program.

Fixed-rate mortgage 370

Fixed-rate mortgage Equity Investor Development 370

Housing Wire

APRIL 17, 2024

On Tuesday, they reached 7.50% on Mortgage News Daily, a high for this year. Rising rates are already having visible effects. High mortgage rates, fewer mortgage applications and fewer home sales are unfortunately not the only effects housing professionals could see from a more prolonged high-rate environment.

Mortgages 493

Mortgages Fixed-rate mortgage Banks Residential 493

Housing Wire

OCTOBER 27, 2022

Borrowers are now seeking options to reduce their initial mortgage payments while hoping that rates will decline enough to warrant a refinance in the next few years. The latest weekly survey data from Freddie Mac shows the 30-year fixed-rate mortgage rose 14 basis points from last week to 7.08%, accelerating its upward trajectory.

Mortgages 397

Mortgages Fixed-rate mortgage Loan Officer Seller concession 397

Housing Wire

MAY 30, 2023

Although March marked the second consecutive month of monthly price increases, Lazzara does not believe the industry is out of the woods yet. That said, the challenges posed by current mortgage rates and the continuing possibility of economic weakness are likely to remain a headwind for housing prices for at least the next several months.”

Mortgages 435

Mortgages Fixed-rate mortgage Construction New Construction 435

Housing Wire

JULY 3, 2023

PrimeLending, led by president and CEO Steve Thompson, ranked as the 34th largest mortgage lender in the first quarter of 2023, with an estimated origination volume of $1.73 billion in Q1 2022 (which was roughly in line with industry peers). billion, according to data from Inside Mortgage Finance. Nearly 92% of U.S.

Loan Officer 370

Loan Officer Marketing Pre-approval Fixed-rate mortgage 370

Housing Wire

MAY 3, 2022

Between February 2020 and January 2022, we witnessed something in the mortgage industry that we thought we’d never see — 30-year fixed-rate mortgages under 3.5%. These rates drew a record number of people refinancing their homes, with cash out refinances reaching $1.2 trillion in 2021. trillion.

Equity 418

Equity Fixed-rate mortgage Principal Mortgages 418

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates, now around 6.5%, are cooling down the housing market and triggering mass layoffs in the mortgage and real estate industries. Mortgage rates have nearly doubled to around 6.5% Before the Federal Reserve raised the federal funds rate by 0.75 The median existing house price increased 7.7%

Mortgages 448

Mortgages Loan Officer Pre-approval Fixed-rate mortgage 448

Housing Wire

JANUARY 17, 2024

Mortgage rates at their lowest level in three weeks led to an increase in borrowers’ demand for home loans last week, spreading some optimism in the industry in the first few weeks of 2024. Overall, mortgage applications rose by 10.4% To prove it, analysts are already discussing a potential refi recovery.

Mortgages 493

Mortgages Fixed-rate mortgage Loans Residential 493

Housing Wire

OCTOBER 16, 2023

Mortgage rates On the day Broeksmit addressed the crowd in Philadelphia, mortgage rates were north of 7.7% on a standard 30-year fixed-rate mortgage. Mortgage applications are at multi-decade lows, and housing inventory remains highly depressed, helping push home prices up.

Banks 448

Banks Fixed-rate mortgage Lending Mortgages 448

Housing Wire

DECEMBER 11, 2023

After hitting a 23-year high of 8% in October, mortgage rates have cooled down to the lowest levels since July. When interest rates hovered around 8%, it really hurt affordability,” Steinway said. Meanwhile, it will be a long time before the industry sees a traditional refi boom. in 2024, followed by 5.5% in 2025.

Mortgages 482

Mortgages Fixed-rate mortgage Equity Loans 482

Housing Wire

NOVEMBER 10, 2021

Joel Kan, associate vice president of economic and industry forecasting, remarked in a statement that the decrease in mortgage rates , pushed the refi and purchase index upwards. The 30-year fixed rate decreased to 3.16% and has declined 14 basis points over the past two weeks,” Kan said. of total applications.

Mortgages 418

Mortgages Fixed-rate mortgage Lending Industrial 418

Housing Wire

JUNE 1, 2022

Between February 2020 and January 2022, we witnessed something in the mortgage industry that we thought we’d never see — 30-year fixed-rate mortgages under 3.5%. These rates drew a record number of people refinancing their homes, with cash-out refinances reaching $1.2 trillion in 2021. trillion.

Equity 397

Equity Fixed-rate mortgage Principal Loans 397

Housing Wire

AUGUST 10, 2023

The grant funds can only be used toward the down payment on a Wells Fargo fixed-rate conventional loan secured by a property that will be the purchaser’s primary residence. Home prices are on the rise again, mortgage rates are over 7% and the lack of existing homes for sale continues to put pressure on first-time homebuyers.

Fixed-rate mortgage 370

Fixed-rate mortgage Closing costs Lending Banks 370

Housing Wire

OCTOBER 18, 2022

The currently low figure indicates that while borrowing rates may be high, credit risk related to borrowers’ ability to fulfill their financial obligations is less of a concern. Inflation rate : This is the other piece of the Fed’s dual mandate, and currently the focus of most conversations in the industry. in September 2002.

Mortgages 370

Mortgages Marketing Fixed-rate mortgage Lending 370

Housing Wire

AUGUST 11, 2022

Because they are deemed riskier loans than conforming agency-eligible mortgages, rates for non-QM loans generally average around 150 basis points higher than conforming rates in a normal market, according to industry experts. a long-term player in the non-QM mortgage market. billion,” the REIT reports.

Mortgages 397

Mortgages Residential Loans Lending 397

Housing Wire

MARCH 23, 2023

The bank crisis has also reduced the spread between conforming and jumbo loan rates. Mortgage industry experts believe the current turbulence has potential to hit the jumbo space harder, mainly due to a reduced investor appetite in the secondary market and banks’ tightened financial conditions for borrowers.

Loans 459

Loans Mortgages Banks Fixed-rate mortgage 459

Housing Wire

APRIL 14, 2022

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. Justin Woodward has experienced the best and the worst of the mortgage industry in only 18 months. “I had not done first mortgage lending before, but I was familiar with the basics of real estate lending. .”

Mortgages 526

Mortgages Marketing Lending Loans 526

Housing Wire

SEPTEMBER 9, 2022

The nonagency share of the market has been rising slowly since then, reaching 4.32% in 2021, according to recent analysis by the Urban Institute ’s Housing Finance Policy Center. In August 2021, the 30-year fixed-rate mortgage rate stood at approximately 2.75%,” a recent KBRA report on the nonagency RMBS market states.

Marketing 435

Marketing Fixed-rate mortgage Bankruptcy Mortgages 435