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Housing Wire
JULY 6, 2022
Non-QM lender Sprout Mortgage is shutting down operations, multiple workers said on Wednesday. The closure of Long Island-based Sprout, headed by industry veteran Michael Strauss, represents the second non-QM mortgage lender to close in recent weeks amid historic volatility.
Housing Wire
AUGUST 11, 2022
Purchase mortgage rates continue their roller coaster ride – they moved above 5% this week, according to the latest purchase mortgage survey from Freddie Mac. The 30-year fixed-rate mortgage increased this week to average 5.22%, up from last week’s 4.99%.
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Housing Wire
JULY 15, 2022
Rocket Companies ‘ subsidiary Edison Financial will rebrand as Rocket Mortgage next month in Canada, a market with more than $760 billion (CAD) in mortgage originations annually. Rocket Mortgage also plans to become a direct lender in Canada later this year.
Housing Wire
AUGUST 10, 2022
Nonbank lender Panorama Mortgage Group has added Texas-based Lone Peak Lending to its growing stable of brands. Donovan Stamps, a 27-year mortgage veteran with stints at Stearns Lending , SoFi Mortgage , First Guaranty Mortgage Corp.
Housing Wire
JULY 14, 2021
After several consecutive weeks of drops, mortgage applications jumped 16% for the week ending July 9, 2021, according to the latest report from the Mortgage Bankers Association. The refinance share of activity of total mortgage applications increased to 64.1%
Housing Wire
JULY 19, 2022
Miami-based fintech Milo has closed $10 million in cryptocurrency mortgages since unveiling the product earlier this year, the company announced early Tuesday. The lower the ratio, of course, the higher the rate adjustment will be for the crypto-mortgage.
Housing Wire
AUGUST 10, 2022
Mortgage demand remained relatively flat last week amid volatility in mortgage rates in recent weeks. The market composite index , a measure of mortgage loan application volume, rose a marginal 0.2% Mortgage demand remains weak compared to a year ago.
Housing Wire
JULY 12, 2022
Lenders continued to tighten credit standards in June as higher mortgage rates slowed refinance and purchase activity. The monthly Mortgage Credit Availability Index (MCAI) fell by 0.3% in June, according to the Mortgage Bankers Association. of all mortgage applications. .
Housing Wire
MAY 11, 2022
Prospective homebuyers aren’t deterred by the skyrocketing mortgage rates amid a slow start to the spring home-buying season this year. The refinance share of mortgage activity dropped to 32.4% With mortgage rates on the rise here are some products originators should tap into.
Housing Wire
JANUARY 13, 2022
The average 30-year fixed rate mortgage increased to 3.45% during the week ending Jan. 13, up from 3.22% the week prior, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed rate mortgage averaged 2.79%.
Housing Wire
AUGUST 3, 2022
Demand for mortgage loans increased last week as a troubling economic outlook led to a decline in rates, according to the Mortgage Bankers Association (MBA). Jumbo mortgage loans (greater than $647,200) went from 5.32% to 5.06% in the same period. .
Housing Wire
JULY 7, 2022
Purchase mortgage rates this week continued their recent downward trend, dropping 40 basis points to 5.30%, according to the latest Freddie Mac PMMS Index. Mortgage rates tend to move in concert with the 10-year U.S. The 15-year fixed-rate mortgage averaged 2.20% a year ago.
Housing Wire
DECEMBER 16, 2020
After two weeks of decreases, the Mortgage Bankers Association reported that mortgage applications increased 1.1% 11 amid mortgage rates that hit a new survey low. The refinance share of mortgage activity increased to 72.7%
Housing Wire
JUNE 22, 2022
JPMorgan Chase , the nation’s largest bank, has started a workforce reduction of its mortgage lending business this week after having been struck by a tightening monetary policy that drove mortgage rates to over 6%.
Housing Wire
FEBRUARY 18, 2021
After three weeks of unchanged rates, the average mortgage rate for a 30-year fixed loan jumped 8 basis points to 2.81%, reaching its highest point since mid-November, according to Freddie Mac ’s Primary Mortgage Market Survey.
Housing Wire
JULY 13, 2022
Demand for mortgages declined for the second consecutive week, led by a dip in purchase mortgage applications — despite rates on a downward trend. The market composite index, a measure of mortgage loan application volume, decreased 1.7% retail residential mortgage applications.
Appraisal Buzz
AUGUST 9, 2022
This represents a 2-percentage point decrease compared to May 2021 when the delinquency rate was 4.7%. … The post Mortgage Delinquency Data Update appeared first on DSNews. The post Mortgage Delinquency Data Update appeared first on Appraisal Buzz.
Housing Wire
JULY 20, 2022
Weakening economic outlook, high inflation and affordability challenges took a toll on buyer demand, leading to a drop in both purchase and refi applications last week, according to the Mortgage Bankers Association (MBA). retail residential mortgage applications.
Housing Wire
MARCH 31, 2022
Mortgage rates keep climbing amid rising inflation , war in Ukraine, and disruptions to the supply chain, and there’s no sign that they’ll fall anytime soon. The GSE’s index accounts for just purchase mortgages reported by lenders over the past three days.
Housing Wire
JUNE 8, 2022
Mortgage application volume for the week ending June 3 dropped 6.5%, sliding to the lowest level in 22 years, driven by weakness in purchase and refinance applications. The refinance share of mortgage activity rose to 32.2% The post Mortgage apps decline 6.5%
Housing Wire
MAY 26, 2021
After two straight weeks of increases , mortgage applications dropped 4.2% for the week ending May 21, 2021, according to the Mortgage Bankers Association ‘s weekly mortgage applications survey. of total mortgage applications from 63.3%
Housing Wire
AUGUST 3, 2022
To say that mortgage rates have been on a wild Mr. Toad’s ride in 2022 is an understatement. People thought the mortgage rate drama in 2013-2014 was a lot when rates went from 3.5% The question is, can lower mortgage rates save the housing market from its recent downtrend?
Housing Wire
AUGUST 19, 2021
Delinquency rates for mortgage loans on one-to-four-unit residential properties shrank across the board to 5.47% in the second quarter, according to a Mortgage Bankers Association survey published this week. The post Mortgage delinquencies shrink in Q2 appeared first on HousingWire.
Housing Wire
AUGUST 4, 2022
Two years after acquiring RoundPoint Mortgage Servicing , Freedom Mortgage Corp. has inked a deal to sell the nonbank mortgage servicer to Matrix Financial Services Corp. A look at key mortgage claims challenges servicers are facing. Mortgage Servicing
Housing Wire
JULY 18, 2022
new jobs hiring, housing jobs, recruiting for mortgage industry. Based on the headlines, one might assume the mortgage business is a complete disaster. Some mortgage companies will merge to stay afloat, and many others will go under. Go Mortgage is hiring LOs.
Housing Wire
JANUARY 6, 2022
The average 30-year fixed rate mortgage increased to 3.22% during the week ending Jan. 6, up from 3.11% the week prior, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed rate mortgage averaged 2.65%.
Housing Wire
AUGUST 4, 2022
Purchase mortgage rates dropped for the third consecutive week and are now below the 5% level, reflecting a Federal Reserve monetary policy that has led to a “technical recession” in the U.S. Mortgage lenders across the country are managing a volatile housing market.
Appraisal Buzz
JUNE 23, 2022
Mortgage Markets CUSO is now using Mortgage Coach to increase mortgage lending engagement at the credit unions it serves. To date, Mortgage Markets CUSO’s mortgage lending services are relied on by 15-plus U.S.
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%.
Housing Wire
APRIL 4, 2022
South Carolina-based Movement Mortgage laid off around 170 employees in March, another case of a top-25 mortgage lender paring back its workforce due to a more challenging origination landscape. . compared to the previous year, according to Inside Mortgage Finance.
Housing Wire
JULY 18, 2022
Servicers’ forbearance portfolio volume trended downward in June but declined at a much slower pace than earlier this year, according to the Mortgage Bankers Association (MBA). in May at a time of high inflation and volatility in mortgage rates.
Housing Wire
OCTOBER 21, 2021
The average 30-year-fixed rate mortgage climbed to 3.09% during the week ending Oct. 21, rising from 3.05% the week prior, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.80%.
Housing Wire
JULY 6, 2022
Fewer applications show borrowers’ demand for mortgage loans fell this week, despite a decline in rates due to concerns of an economic recession, according to the Mortgage Bankers Association (MBA). . Jumbo mortgage loans (greater than $647,200) went from 5.42% to 5.28%.
Housing Wire
JULY 22, 2022
Guaranteed Rate is looking to diversify its product mix amid the mortgage downturn. The mortgage lender has rolled out its first personal loan product. ” The personal loans could also be a good source of leads for mortgages down the road.
Housing Wire
JUNE 23, 2022
Purchase mortgage rates this week averaged 5.81% , compared to 5.78% the week prior, when rates rose 55 basis points, the largest 1-week increase since 1987, according to the latest Freddie Mac PMMS index. However, another index showed mortgage rates declining this week.
Housing Wire
JUNE 27, 2022
The national mortgage delinquency dropped to an all-time low in May, continuing two consecutive months of a decline since March. million properties were in early-stage delinquencies, defined as borrowers who missed a single mortgage payment, which is a slight increase of 0.2%
Housing Wire
AUGUST 3, 2022
Is there a new way to address the truth about staffing in the mortgage industry? While taking with Clayton Collins, CEO of HW Media, he used the term “elasticity” when describing the housing market and mortgage employment. I’ve been in mortgage for more than 25 years.
Housing Wire
JULY 29, 2022
As mortgage origination volume continues to fall from the heights of the pandemic-spurred boom, many lenders see cost-cutting as their top priority this year. With mortgage origination volume expected to drop by about 40% to $2.4
Housing Wire
JULY 6, 2022
Wells Fargo, the third-biggest mortgage lender in the country, will lay off 125 employees in its home lending division in Iowa by the end of August. The bank eliminated 72 mortgage jobs in Iowa across earlier layoffs.
Housing Wire
AUGUST 2, 2022
The mortgage servicing rights (MSR) market is continuing to pump out new deals. Freedom Mortgage , one of the country’s largest mortgage servicers, recently unveiled its second private-label offering this year backed by MSRs.
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