As it keeps hiking short-term rates, Fed stays the course on mortgages
Fed Chair Jerome Powell says policymakers are not ready to start selling off Treasurys and mortgage debt to accelerate trimming of $9T balance sheet
by Matt Carter Sep 21
Don't expect mortgage rate relief in 2023, Fannie Mae warns in forecast
Even though the economy is probably headed for a recession next year, the Fed is seen as having a ways to go before inflation is under control
by Matt Carter Sep 21
Demand for home loans picks up for first time in 6 weeks
Rising demand for purchase loans and refinancing as rates climb to new highs underscores volatility, with Fed expected to continue rate hikes, according to the MBA's latest survey
by Matt Carter Sep 21
Paymints.io integrates into First American's PRISM platform
Eliminates the need for paper checks by allowing title and real estate agents to request and receive electronic disbursement of earnest money and cash-to-close funds within the platform
by Matt Carter Sep 20
Mortgage relief operation allegedly bilked homeowners out of $6.3M
Los Angeles-based operation allegedly promised to help hundreds of distressed homeowners negotiate with lenders to lower their interest rates, monthly payments or principal amounts
by Matt Carter Sep 20
Staircase automates underwriting of private mortgage insurance
MI Underwriting pulls documents and data directly from lenders, allowing mortgage insurers to make instant policy decisions at half the cost
by Matt Carter Sep 19
Amrock aims to offer smartphone closings everywhere they're allowed
The Rocket Companies subsidiary will roll out mobile eClosings for purchase loans by the end of 2022, an indication the practice of attending a closing in person may soon be coming to a close
by Matt Carter Sep 19
Competition between top mortgage lenders for homebuyers heats up
Rocket Mortgage rolls out 'Inflation Buster' mortgage, which provides a lower rate for 1 year, as it battles rival United Wholesale Mortgage for homebuyer market share
by Matt Carter Sep 16
Ribbon back in expansion mode with push into Illinois and Michigan
Less than 2 months after layoffs, the power buyer is now in 17 states and says it's still on track to meet a goal of being operational in half of the US by the end of the year
by Matt Carter Sep 15
Congress closer to prodding VA to update appraisal requirements
The Department of Veterans Affairs allows desktop appraisals when borrowers put 20% down, but nearly 90% of VA-backed loans are made to homebuyers who put zero down
by Matt Carter Sep 15
Real estate trade groups prod Biden to cut annual FHA premiums
The NAR, MBA and NAHB argue that the Federal Housing Administration is flush with cash, and that delinquency rates on FHA loans have returned to pre-pandemic lows
by Matt Carter Sep 14
This is the best time for homebuyers' agents to lock in a deal this fall
Realtor.com's 'Best Time to Buy' report revealed Sept. 25 to Oct. 1 is the best time for buyers to seize early-season savings as rising mortgage rates and booming inflation clobber demand
by Marian McPherson Sep 14
Mortgage rates pass 6% as demand for loans continues dramatic fall
Purchase loan applications fell 29% from the same period last year, the result of rising rates that are double their levels from 2021, according to the Mortgage Bankers Association’s weekly index
by Daniel Houston Sep 14
Credit unions, banks flock to Black Knight's Empower mortgage LOS
IThink Financial, the 8th credit union to sign up for Empower since December, will use the mortgage loan origination system to provide home loans to more than 100,000 members
by Matt Carter Sep 13
Mortgage lenders face heightened risk of income, property fraud
Risk of false W-2's, earnings statements and payroll checks up 27.3% during Q2 compared to a year ago, according to the latest CoreLogic Mortgage Fraud Report, released Monday
by Matt Carter Sep 13
Homebuyer education, counseling no panacea for mortgage default
Women and adults under 30 did see improvements to their credit scores in pioneering a randomized study of 5,854 prospective first-time homebuyers
by Matt Carter Sep 9