Housing Wire
JANUARY 14, 2021
The Federal Housing Finance Agency (FHFA) announced on Thursday it has extended relaxed lending and appraisal standards put in place due to COVID-19 another month for both Fannie Mae and Freddie Mac. The flexibilities surrounding alternative verifications of employment and appraisals were originally set to expire on Jan. 31, 2021, however, the government entity is now pushing that back to at least Feb. 28, 2021.
Housing Wire
JANUARY 14, 2021
The mortgage industry has not traditionally been the vanguard of digital adoption, particularly in data intelligence and applied machine learning. Investments in proper infrastructure, an innate fear of losing process control, and converting the workforce to a digitally savvy “knowledge force” have contributed to “digital apprehension” in the past.
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Housing Wire
JANUARY 14, 2021
The average mortgage rate for a 30-year fixed loan rose from its previous record low by 14 basis points this week to 2.79%, according to Freddie Mac ’s Primary Mortgage Market Survey. This marks the first time mortgage rates have risen in almost two months. The 15-year fixed rate also rose slightly this week from 2.16% to 2.23%. Even with this week’s uptick, there have still been 23 consecutive weeks when average mortgage rates have been below 3%.
Housing Wire
JANUARY 14, 2021
It’s 6:30 in the morning on September 25, 2020, and a small team from The Home Loan Expert is beginning their long climb up Mount Elbert, the highest summit in the Rocky Mountains of North America and the highest point in Colorado. In a class commonly referred to as 14ers by those adventurous enough to climb them, this 14,440 foot-high mountain isn’t for the faint of heart.
Housing Wire
JANUARY 14, 2021
A $12 million funding round will enable digital mortgage marketplace company Own Up to expand nationally, company officials said Wednesday. Own Up, which loosely resembles a mortgage brokerage, will expand to 15 new states in 2021, including California. Consumers already have access in Colorado, Connecticut, Florida, Georgia, Maine, Massachusetts, Michigan, New Hampshire, Pennsylvania, Rhode Island and Texas.
Housing Wire
JANUARY 14, 2021
Ahead of its independent public offering, Homepoint ‘s parent company plans to raise hundreds of millions of dollars in debt to replenish its owners’ wallets. The wholesale lender’s parent company, Home Point Capital , is seeking to raise $500 million in debt in a private placement sale. Half of the net proceeds would fund a distribution to Home Point Capital’s private equity owners , Stone Point Capital , the company disclosed in an SEC filing.
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