Housing Wire

AUGUST 24, 2023

Mortgage rate shot up again last week as the bond market continues to grapple with a growing economy in the run up to the next Federal Open Market Committee meeting. Investors are concerned that the central bank will continue raising the funds rate, pushing borrowing costs even higher. What to expect with the Fed ?

Mortgages 364

Mortgages Fixed-rate mortgage Banks Investor 364

Housing Wire

OCTOBER 19, 2022

Mortgage demand continued its downward trend last week, reaching the lowest level in 25 years, according to the latest survey from the Mortgage Bankers Association (MBA). The MBA survey shows that the mortgage composite index for the week ending Oct. retail residential mortgage applications.

Fixed-rate mortgage 365

Fixed-rate mortgage Mortgages Banks Loans 365

Housing Wire

APRIL 19, 2023

As the banking crisis stabilized last week, mortgage rates increased, reducing borrower demand for home loans. However, with limited for-sale housing inventory, these higher rates are primarily challenging for potential first-time homebuyers. Overall, mortgage applications fell last week by 8.8%

Mortgages 347

Mortgages Fixed-rate mortgage Marketing Loans 347

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), 678), InstaLend (no.769)

Mortgages 359

Mortgages Loan Officer Fixed-rate mortgage Loans 359

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 356

Renovation Fixed-rate mortgage Equity Finance 356

Housing Wire

FEBRUARY 3, 2022

The average 30-year-fixed rate mortgage remained flat for the third consecutive week at 3.55% for the week ending Feb. 3, reflecting the impacts of the Omicron variant in the economy, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.73%.

Fixed-rate mortgage 392

Fixed-rate mortgage Mortgages Residential Banks 392

Housing Wire

JANUARY 9, 2024

Home-equity lending overall found its wings in 2023 as a number of independent mortgage banks ramped up product lines over the course of the year — despite a bump in the road in the third quarter when mortgage rates surged past 7%. HELOCs have easily been the product with the largest increase in [loan]-trading volumes.”

Equity 419

Equity Lending Banks Loans 419

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. ,

Mortgages 374

Mortgages Loans Residential Lending 374

Housing Wire

MAY 5, 2022

billion note backed by a reference loan pool of 118,055 residential mortgages with an outstanding principal balance of $35.4 billion, according to a presale report by Kroll Bond Rating Agency (KBRA). billion secured by single-family mortgage reference loan pools valued in total at $156.9 a week earlier.

Principal 331

Principal Fixed-rate mortgage Loans Residential 331

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 2023.

Marketing 414

Marketing Fixed-rate mortgage Loan Officer Pre-approval 414

Housing Wire

APRIL 7, 2023

Musk went on to comment that the rise in defaults among commercial and residential loans could “hammer” banks. This remark comes on the heels of the collapse of Silicon Valley Bank on March 10, the second-biggest bank failure in U.S. When this back and forth was unfolding, mortgage demand rose 2.9%

Commercial 335

Commercial Banks Fixed-rate mortgage Residential 335

Housing Wire

APRIL 7, 2022

Black Knight ‘s Optimal Blue OBMMI pricing engine, which considers refis and data from the Mortgage Bankers Association (MBA), reported that rates on Wednesday averaged 5.05%, up about 25 bps from a week prior. Several LOs told HousingWire that clients had locked loans in the 5% to 5.3% Mortgage rates have increased 1.5

Mortgages 380

Mortgages Fixed-rate mortgage Loans Residential 380

Housing Wire

SEPTEMBER 22, 2022

New York-based Unlock Technologies , a fintech operating in the shared-equity market, and real estate investment firm Saluda Grade , have closed a $180 million private-label securitization (PLS) backed entirely by Unlock-originated residential home-equity agreements (HEAs). 21, according to Mortgage News Daily.

Equity 357

Equity Marketing Fixed-rate mortgage Finance 357

Housing Wire

OCTOBER 27, 2022

Mortgage rates have surged firmly above the 7% mark, making alternatives such as temporary rate buydowns and down payment assistance programs more popular, according to loan officers. A year ago at this time, rates averaged 3.14%. United Wholesale Mortgage (UWM) launched the product in August.

Mortgages 349

Mortgages Fixed-rate mortgage Loan Officer Seller concession 349

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 417

Equity Lending Fixed-rate mortgage Loans 417

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates have nearly doubled to around 6.5% Following the Fed’s decision to raise interest rates by an additional 75 basis points on Wednesday, the central bank said it will hike rates as high as 4.6% Before the Federal Reserve raised the federal funds rate by 0.75 According to the NAR, there were 1.28

Mortgages 401

Mortgages Loan Officer Pre-approval Fixed-rate mortgage 401

Housing Wire

MAY 3, 2023

Mohtashami anticipates that the Fed will push a pause on the interest rate hike in the next meeting, as the central bank is counting on credit getting tighter to create job recession. Federal regulators also seized First Republic Bank and sold it to JPMorgan Chase Bank earlier this week.

Mortgages 352

Mortgages Debt-to-income ratio Banks Fixed-rate mortgage 352

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. homeowners.

Equity 380

Equity Fixed-rate mortgage Principal Loans 380

Housing Wire

NOVEMBER 10, 2022

Mortgage lenders have imposed new rounds of layoffs in the fourth quarter, reflecting a dreadful landscape for originators. . This week, the latest Freddie Mac weekly survey data showed that the 30-year fixed-rate mortgage increased to 7.08%, up 13 basis points compared to last week. A massive job cut.

Mortgages 358

Mortgages Loan Officer Banks Lending 358

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. homeowners.

Equity 374

Equity Fixed-rate mortgage Principal Mortgages 374

Housing Wire

SEPTEMBER 9, 2022

The pace of mortgage-backed securities (MBS) issuance in the nonagency market slowed considerably in July and August as rising interest rates and Federal Reserve MBS-purchase policy have combined to dampen the momentum exhibited in the private-label space in 2021 and over the first half of this year.

Marketing 347

Marketing Fixed-rate mortgage Bankruptcy Mortgages 347

Housing Wire

DECEMBER 29, 2023

“It finally seems like we are turning a corner and that’s good news after two years of the Fed’s negative perspective that we’ve heard,” Max Slyusarchuk, CEO of A&D Mortgage , said in an interview. AI can understand the loan status, a loan profile and AI can respond to the consumer.

Mortgages 439

Mortgages Loan Officer Loans Equity 439

Housing Wire

MARCH 29, 2023

The demand for home-equity loans, particularly home-equity lines of credit (HELOCs) as well as shared-equity investment products, is now stronger than at any time since before the global financial crisis some 15 years ago. The Towd Point deal involved HELOCs as well as CES loans originated by nonbanks Rocket Mortgage and Spring EQ.

Equity 334

Equity Lending Loans Banks 334

Housing Wire

MARCH 10, 2023

A host of nonbanks and traditional depository lenders, such as banks and credit unions, as well as a growing number of fintech firms continue to ramp up efforts and product lines to meet that demand. Toohig added that the interest rate on a HELOC is normally variable, “usually prime, plus 1.5 to 2 points.”

Equity 353

Equity Marketing Debt-to-income ratio Lending 353

Housing Wire

SEPTEMBER 12, 2023

After two of the most challenging years in recent history, economists and analysts project a shift in the mortgage market toward the end of 2023, Hoff said. “Lenders and loan officers right now are just in survival mode,” Hoff said in an interview. When will the market turn? Let’s start with the good news.

Loan Officer 392

Loan Officer Loans Investor Mortgages 392

Housing Wire

AUGUST 25, 2022

But there’s another threat that Homepoint executives must worry about – United Wholesale Mortgage (UWM), the top dog in wholesale, has embarked on a strategy of heavy price cutting, forcing Homepoint and others to limbo to compete for business. That has contributed to UWM’s competitors taking losses on loans when they can least afford it.

Mortgages 385

Mortgages Equity Loans Seller concession 385

Housing Wire

JULY 27, 2022

through its Angel Oak Mortgage Trust conduit, recently unveiled its latest private-label securitization (PLS) offering — a deal slated to close in early August backed by 788 predominately non-QM loans valued at $362 million. through its affiliated companies, including real estate investment trust, or REIT, Angel Oak Mortgage Inc.

Marketing 352

Marketing Loans Investor Mortgages 352

Marco Santarelli

DECEMBER 6, 2023

The MBA survey, a staple since 1990, draws on responses from mortgage bankers, commercial banks, and thrifts, covering more than 75% of all retail residential mortgage applications in the US. The overall loan size of $345,900 is the smallest since the first week of 2022. USDA loan applications accounted for 0.5%

Mortgages 103

Mortgages Fixed-rate mortgage Loans Commercial 103

Realtor.com

MARCH 12, 2021

If the potential savings from a new mortgage won’t recoup the closing costs—like title insurance, state taxes, appraisal fees and more—it may not make sense to refinance just yet. The national average for associated refinancing fees is nearly $3,400 with taxes, according to ClosingCorp, a firm providing residential real-estate data.

Fixed-rate mortgage 87

Fixed-rate mortgage Mortgages Closing costs Equity 87

Marco Santarelli

DECEMBER 22, 2020

In this article, we shall discuss the various types of mortgage notes and how to invest in them. Real estate or mortgage note investing is owning real estate without property management or without becoming a landlord where the homeowner pays the investor instead of the bank. Therefore, the loan amount would be $120,000.

Mortgages 122

Mortgages Purchase and sale agreement Fixed-rate mortgage Loans 122

McKissock

MAY 30, 2023

Interest rates According to Freddie Mac, interest rates increased after a two-week decrease, with the average 30-year fixed-rate mortgage rising from 6.35% to 6.39% between May 11 and 18. As a potential recession looms, we may have reached the peak of this rate cycle, though rates are known for their volatility.

Banks 73

Banks Commercial Construction Fixed-rate mortgage 73

Realtor.com

JANUARY 11, 2021

Andrew Harrer/Bloomberg via Getty Images WASHINGTON—Getting a mortgage for a resort-area condo might become more difficult after Fannie Mae and Freddie Mac moved to tighten rules on buildings with many short-term rentals and hotel-like amenities, some Realtors and bankers say. based bank. Fannie and Freddie don’t make loans.

Fixed-rate mortgage 83

Fixed-rate mortgage Finance Residential Loans 83

Realty Biz

APRIL 11, 2022

The reason there is so much difference between credit card and mortgage interest rates is that the credit card loan is a much higher risk. Credit card loans are unsecured loans. The basic process begins by asking questions like what type of mortgage is best for you? It’s often seven to nine years.

Mortgages 88

Mortgages Fixed-rate mortgage Loans FHA loan 88

Notorious ROB

MARCH 16, 2023

(which means the world) is undergoing a crisis in banking. As of this writing, three major regional banks have failed (Silvergate, Signature, and of course, Silicon Valley Bank), four others were at the verge of failing until “rescued” by the Feds, and one international giant is teetering (Credit Suisse).

Banks 72

Banks Finance Fixed-rate mortgage Loans 72

Realty Biz

FEBRUARY 23, 2022

To be clear, the Federal Reserve does not directly set the mortgage rate. The federal funds rate, which is set by the central bank, is the overnight interest rate at which banks borrow from one another. When the federal funds rate goes up, the prime rate tends to follow.

Fixed-rate mortgage 69

Fixed-rate mortgage Mortgages Banks Loans 69

McKissock

MARCH 31, 2023

Economic recap March 2023 Following recent bank failures, several questioned whether the Federal Open Market Committee (FOMC) would maintain its firm stance on interest rate hikes. Interest rates According to a Freddie Mac study, the average 30-year fixed mortgage rate was 6.42% on March 23, 2023, down from 6.60% the previous week.

Fixed-rate mortgage 69

Fixed-rate mortgage Banks Sales Mortgages 69

The Close

DECEMBER 29, 2022

Make sure clients who see an acceleration clause in their mortgage contracts understand that this allows their lender to demand repayment of the loan in full if they default on the loan. 4 Loan Questions Worth Asking. Basically, amortization is the preset schedule of mortgage loan payments, including interest, over time.

Purchase and sale agreement 98

Purchase and sale agreement Title Proof of funds Pre-approval 98