Housing Wire

MARCH 23, 2023

The collapses of Silvergate Bank , Silicon Valley Bank and Signature Bank , the rescue of First Republic Bank and the acquisition of Credit Suisse by UBS, brought turbulence to the financial markets that led to a decline in mortgage rates – despite the Federal Reserve hiking federal funds rate by 25 basis point on Wednesday.

Loans 459

Loans Mortgages Banks Fixed-rate mortgage 459

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

JANUARY 20, 2022

The average 30-year-fixed rate mortgage climbed to 3.56% during the week ending Jan. 20, rising from 3.45% the week prior, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.77%. Mortgage rates moved up again as the 10-year U.S.

Fixed-rate mortgage 482

Fixed-rate mortgage Mortgages Lending Loans 482

Housing Wire

SEPTEMBER 16, 2021

According to Freddie Mac, the 30-year-fixed-rate mortgage was down slightly from last week’s 2.88% (with an average of 0.7 The 15-year-fixed-rate mortgage averaged 2.12% last week, a slight decline from the prior week’s 2.19%. A year ago, the average 15-year-fixed-rate mortgage was 2.35%.

Fixed-rate mortgage 497

Fixed-rate mortgage Mortgages Lending Loans 497

Housing Wire

AUGUST 29, 2024

million residential mortgage originations in the second quarter of 2024, an increase of 23.2% 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.

Mortgages 431

Mortgages Fixed-rate mortgage Lending Residential 431

Housing Wire

OCTOBER 12, 2023

To that end, the CHLA, NAR and ICBA urged that the Federal Reserve shift its policy to maintain its stock of mortgage-backed securities (MBS) and suspend runoff until liquidity and the spread between the 30-year fixed rate mortgages and 10-year Treasury stabilizes.

Fixed-rate mortgage 542

Fixed-rate mortgage Mortgages Industrial Lending 542

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

JUNE 4, 2024

But in states with higher home prices — particularly California , New Jersey and Hawaii — shopping around could provide even more substantial savings of $131,190, $127,125 and $115,947, respectively, over the lifetime of loans originated in these locations. 1 through May 6, 2024,” according to the methodology.

Mortgages 454

Mortgages Fixed-rate mortgage Loans Lending 454

Housing Wire

AUGUST 15, 2024

There are many government program offerings designed to support low-income borrowers and underserved communities available through banks and credit unions, including: Federal Housing Administration (FHA): FHA provides mortgage insurance on loans made by FHA-approved lenders. Nearly 90% of VA-backed loans are made with no down payment.

Industrial 476

Industrial Fixed-rate mortgage Banks Loans 476

Housing Wire

MAY 3, 2023

The MBA survey shows the average interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 6.50% last week from 6.55% the prior week. Rates on jumbo loans (greater than $726,200) decreased to 6.37% from 6.40% on a weekly basis.

Mortgages 418

Mortgages Fixed-rate mortgage Banks Lending 418

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? Presented by: Angel Oak. “I

Mortgages 514

Mortgages Lending Fixed-rate mortgage Loans 514

Housing Wire

APRIL 12, 2024

The banks’ Q1 2024 earnings, released on Friday, showed declining home loan volumes compared to the prior quarter — and executives believe that the macroeconomic landscape will remain tough in the months to come. But Scharf also said that “markets and rates will likely remain volatile.“ year over year.

Mortgages 468

Mortgages Banks Fixed-rate mortgage Lending 468

Housing Wire

AUGUST 10, 2021

Purchase mortgages rose to 51% of closed mortgages in June, up from 47% in May, according to the latest origination report from ICE Mortgage Technology (formerly Ellie Mae). Refinances represented 48% of closed loans. The data show closing rates for all loans decreased to 75.3% in June, down from 76.9%

Mortgages 418

Mortgages Marketing Fixed-rate mortgage Lending 418

Housing Wire

JANUARY 5, 2024

Generally, the Fed will adjust its lending rate by a quarter percent, but at times the adjustment has been larger. A buyer who might have qualified for a $400,000 mortgage may now qualify for a $350,000-$375,000 mortgage when interest rates rise. Declining interest rates present other opportunities for homeowners.

Fixed-rate mortgage 468

Fixed-rate mortgage Agents Marketing Lending 468

Housing Wire

MAY 19, 2022

If there’s a bet to be made on the future of the non-agency lending space, it’s that the adjustable-rate mortgage (ARM) will become far more popular this year as purchase mortgages increasingly dominate a housing market pivoting to an up-rate environment. It’s a very well-trodden path.”.

Industrial 476

Industrial Loan Officer Fixed-rate mortgage Lending 476

Housing Wire

SEPTEMBER 29, 2023

The loan officers that Scott Groves talks to are struggling. Mortgage rates are around 7.7%, the highest levels in over 20 years, and LOs across America are having to reset their strategies. There’s growing concern in the mortgage industry that rates could even touch 8% before they fall below 7%. Really struggling.

Loan Officer 435

Loan Officer Mortgages Fixed-rate mortgage Loans 435

Housing Wire

JUNE 6, 2022

Figure, founded in 2018 by SoFi co-founder Mike Cagney, would bring a blockchain tech platform to the merged company, which would double the lender’s capacity to fulfill loans. In early April, the company launched a cryptocurrency-backed 30-year fixed-rate mortgage product for borrowers to use bitcoin and/or ether as collateral.

Fixed-rate mortgage 418

Fixed-rate mortgage Lending Technology Loans 418

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. “It’s obviously not just a flip flop, it’s a pretty big move,” said Luke Johnson, the founder and CEO of Neat Loans. .

Fixed-rate mortgage 370

Fixed-rate mortgage Mortgages Loans Loan Officer 370

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

DECEMBER 11, 2023

A top-tier borrower with a 780 FICO score and a 25-30% down payment for a single-family vanilla 30-year fixed-rate mortgage was quoted 6.875% on Thursday, said Larry Steinway, senior vice president of mortgage lending and branch manager of Revolution Mortgage. “We How fast we move past that is up for debate.”

Mortgages 482

Mortgages Fixed-rate mortgage Equity Loans 482

Housing Wire

AUGUST 7, 2023

Since 2008, the number of private secondary mortgage providers has reduced dramatically, and those that remain in the market generally purchase jumbo loans from more affluent borrowers. They do this to reduce their risk and to free up their capital to process more loans. Ginnie Mae is wholly owned by the federal government.

Closing 370

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

Housing Wire

FEBRUARY 13, 2023

“Mortgage rates declined in January, continuing a trend that began in early November 2022,” Kevin McMahon, president of Optimal Blue, a division of Black Knight, said in a statement. Cash-out refinances remain down more than 85% from last year and rate/term refinances are still down more than 88% from the same month in 2021.

Fixed-rate mortgage 393

Fixed-rate mortgage Lending Mortgages Loans 393

Housing Wire

MARCH 27, 2023

Fannie Mae has projected that the recent bank failures may act as the catalyst that tips an already precarious economy into a recession — primarily due to the combination of tighter lending standards by small- and mid-sized regional banks. Jumbo loans account for approximately 12% of all loans originated as of February 2022.

Banks 397

Banks Lending Fixed-rate mortgage Construction 397

Housing Wire

FEBRUARY 3, 2023

In 2020 and 2021, many homeowners refinanced, locking in historically low 30-year fixed rate mortgages. TD Bank ’s HELOC Trend Watch survey found that 43% of homeowners who are planning to renovate intend to use a HELOC or home equity loan to finance the project. Residential Lending at TD Bank.

Renovation 397

Renovation Fixed-rate mortgage Equity Finance 397

Housing Wire

AUGUST 15, 2022

HELOCs allow homeowners to tap the equity in their home without incurring a much higher first-lien mortgage via a cash-out refinancing. The interest rate for a 30-year, fixed-rate mortgage averaged 5.22% as of August 11, according to Freddie Mac’s most recent weekly Primary Mortgage Market Survey.

Equity 459

Equity Lending Fixed-rate mortgage Loans 459

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. the previous week.

Mortgages 370

Mortgages Fixed-rate mortgage Loans Lending 370

Housing Wire

NOVEMBER 23, 2022

With mortgage rates down nearly 50 basis points from the recent peak about a month ago, borrower demand picked up again this week, according to the Mortgage Bankers Association (MBA). The market composite index, a measure of mortgage loan application volume, rose 2.2% increase in the previous week.

As-is 418

As-is Mortgages Fixed-rate mortgage Loans 418

Housing Wire

MARCH 29, 2022

Mike Cagney didn’t expect to be releasing a cryptocurrency-backed 30-year fixed-rate mortgage product so soon. The plan was for Figure Technologies to launch such a product only after completing the merger with multichannel mortgage lender Homebridge Financial Services.

Mortgages 397

Mortgages Fixed-rate mortgage Technology Loans 397

Housing Wire

MARCH 16, 2023

Industry observers said that, at least in the short term, mortgage rate declines will support home prices but lead to a better outlook for the spring season. Freddie Mac’s Primary Mortgage Market Survey showed the 30-year fixed-rate mortgage at 6.60% as of March 16, down 13 basis points from the previous week.

Banks 397

Banks Mortgages Fixed-rate mortgage Lending 397

Housing Wire

OCTOBER 14, 2021

If we’ve learned anything in the past year, it’s that operational flexibility and accurate servicing valuation are key to lending profitability. A year ago at this time, the 30-year fixed-rate mortgage averaged 2.81%. The 15-year fixed-rate mortgage averaged 2.30% last week, up from the prior week, when it averaged 2.23%.

Fixed-rate mortgage 418

Fixed-rate mortgage Mortgages Lending Banks 418

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. Mortgage , and/or Closing Cost Credit. Wells Fargo’s mortgage originations reached $7.8

Fixed-rate mortgage 370

Fixed-rate mortgage Closing costs Lending Banks 370

Housing Wire

APRIL 9, 2024

In a message to mortgage brokers, United Wholesale Mortgage (UWM) defended itself from the Hunterbrook Media report that claims the lender orchestrated a scheme to steer loans. He worked for an independent mortgage broker that actually shopped between options. In response, the company said its average rate for the $97.6

Fixed-rate mortgage 468

Fixed-rate mortgage Loans Mortgages Loan Officer 468

Housing Wire

JUNE 16, 2022

The Federal Reserve ’s 75 basis point interest rate hike – its largest since 1994 – proves the central bank is laser-focused on slowing inflation, but loan officers and housing economists don’t expect mortgage rates to come down until consumer prices fall. mortgage industry to fund $4.1 trillion in 2022 and $2.3

Marketing 448

Marketing Fixed-rate mortgage Loan Officer Pre-approval 448

Housing Wire

AUGUST 17, 2023

The top mortgage lender on the Inc. 5000 list was VA Wholesale Mortgage , which specializes in offering home loans to veterans and active duty military members. Founded in 2019, the Virginia-based lender saw a 2,230% three-year growth rate. Zap Mortgage (no.294) Trius Lending Partners (no.678),

Loan Officer 370

Loan Officer Mortgages Fixed-rate mortgage Loans 370

Housing Wire

AUGUST 11, 2022

a real estate investment trust (REIT) based in Mill Valley California that has residential operations focused on nonagency jumbo loans, recently reported a second-quarter 2022 net loss of $100 million, after recording a net gain of $31 million in the prior quarter. Likewise, Atlanta-based A ngel Oak Mortgage Inc. , The Angel Oak Cos.

Mortgages 397

Mortgages Residential Loans Lending 397

Housing Wire

SEPTEMBER 22, 2022

Unlock’s HEA contracts typically feature 10-year maturities and involve a 3% origination fee based on Unlock’s original investment, which is not a loan. The interest rate for a 30-year, fixed-rate mortgage averaged 6.47% on Tuesday, Sept. 21, according to Mortgage News Daily.

Equity 397

Equity Marketing Fixed-rate mortgage Finance 397

Housing Wire

OCTOBER 16, 2023

.” With that, Broeksmit rattled off a number of grievances against foes the Beltway. 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. Not just mortgages, but servicing.

Banks 448

Banks Fixed-rate mortgage Lending Mortgages 448