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Mortgage delinquencies near all-time low in July: CoreLogic

Housing Wire

mortgage delinquencies remained near a record low in July, with the share of homes entering that status or progressing to later stages either unchanged or lower,” said Molly Boesel, principal economist for CoreLogic , in a news release. On home equity , Boesel noted that home-price growth should pick up over the next year.

Mortgages 394
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A repositioning of players in the MSR market is underway

Housing Wire

“[Since Covid], the IMB [independent mortgage bank] group has retained a lot of MSRs that they had not retained historically as a group,” said Nick Smith, founder, managing partner and CEO of private-equity firm Rice Park Capital Management (RPCM), an active MSR buyer. Now they [the struggling IMBs] have to make money.”

Marketing 345
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Rising interest rates trigger an exuberant MSR market 

Housing Wire

Incenter completed a dozen bulk sales transactions in January involving MSRs for agency-backed loan pools that together had a total unpaid principal balance of $113.2 In fact, five of the deals involved MSRs pegged to loan pools that exceeded $10 billion in unpaid principal balance. Another private-equity player in the MSR space is St.

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Why More Homebuyers Now Are Turning to This Much Riskier Type of Mortgage

Realtor.com

And now one of the types of loans that defined that era is staging a comeback. Personal-finance expert Claire Hunsaker got an adjustable rate on both her own home and two investment properties she rented out in the San Francisco Bay Area. Her first experience with an ARM went surprisingly well. Sharon Lurye for Realtor.com.

Mortgages 121
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Planning a Remodel? Know Your Home Renovation Loan Options

HomeLight

But rather than draining their savings, most homeowners opt to finance their home home improvement with credit or a home renovation loan. You might consider this option if you have at least 20% equity in the property and a strong credit score, plus can secure an interest rate lower than your current one. Home equity loan and HELOC.

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Fees and Costs Associated With Selling a House in 2023

HomeLight

But in focusing on the equity portion, people are often surprised to learn how much it costs to sell a house in the U.S. Decluttering can be done for the cost of sweat equity, though some sellers may need to anticipate costs for junking and storage. Money is always top of mind when selling a house.

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131 Real Estate Terms & Definitions Your Clients Expect You to Know in 2023

The Close

How else would you and your clients understand how much is being paid in principal and interest over the years? It generally results in a higher interest rate or additional points, but it’s a way for homeowners to leverage their equity in a property. Generally the payments are scheduled monthly over a period of 15 or 30 years.