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Navigating the Unchartered Waters: Rising Interest Rates in Mortgage Lending Explore how rising interest rates are affecting mortgage lending and homebuyer affordability in the current market.
Lending (1495)
SFIG Picks Ex-Ginnie Exec to Lead Advocacy, Other Efforts
The Structured Finance Industry Group Inc. has selected Michael Bright to serve as president and CEO. Bright will lead SFIG's education, policy and advocacy initiatives, helping to achieve the group's goal of building the broadest possible consensus among members across the industry, and reinforcing the understanding that securitization is an essential source of core funding… Read more...
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The Money Source Sells its Originations Biz to AmeriSave
The Money Source has sold its originations business to AmeriSave Mortgage Corp. The projected originations volume will be $1.5 billion in 2019. As part of the terms of the agreement, AmeriSave assume The Money Sources' new Plano, Texas, and Chandler, Ariz., offices. The Money Source will transition the originations business to AmeriSave in first quarter… Read more...
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Mortgage Delinquency Hit 4.1 Percent in October
The rate of mortgages that were in delinquency was 4.1 percent in October. Delinquency is defined as 30 days or more past due including in foreclosure. In the same time period a year earlier, the rate was 5.1 percent, according to the “Loan Performance Insights Report” from CoreLogic. This was the lowest for the month… Read more...
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Ginnie’s Bright Leaving for Private Sector Post
Michael Bright, executive vice president and COO of Ginnie Mae, has accepted a position in the private sector and will resign from his position on January 16. Bright will serve as CEO of the Structured Finance Industry Group, a trade group. Maren Kasper, executive vice president of Ginnie Mae, will step in as acting president… Read more...
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Black Knight: Refis Make Sense for an Additional 550K Homeowners
The number of homeowners with mortgages who could likely qualify for and see at least a 0.75 percent interest rate reduction by refinancing has increased by around 550,000, due to the 30-year fixed rate falling to 4.55 percent as of the end of December, according to the Mortgage Monitor Report from Black Knight Inc. [caption… Read more...
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Even in Lieu of Legislation, Housing System Can Be Strengthened
Several steps can be taken can be taken to reform and strengthen the U.S. housing finance system even in the absence of federal legislation, according to a report. It recommends measures to strengthen the housing finance system, including greater transparency into Federal Housing Finance Agency oversight of government sponsored enterprise activities, and more risk-based pricing… Read more...
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Leaders on Leadership: Steve Johnson, President of Security National Mortgage
Name: Steve Johnson Title: President Company: Security National Mortgage Corp. In the Mortgage Business Since: 1982 Number of Employees He Manages: 825 Security National Mortgage Corp. is an independent non-bank mortgage company that does business in 45 states, with branches in 23 of them. The majority of its volume, 80%-85%, is generated from five states:… Read more...
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Quicken: Half a Point Separates Owners, Appraisers on Valuations
The year ended with owner and appraiser perceptions of home values slightly moving in different directions, although the difference remains less than half a percent nationally. Appraisal values were an average of 0.45 percent lower than homeowners expected in December, according to the National Quicken Loans Home Price Perception Index. This is compared to November,… Read more...
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Detwiler Weighs in on Reverse Mortgages, Technology, M&A
[caption id="attachment_8871" align="alignright" width="333"] Detwiler: There could be more consolidation among AMCs that haven't begun developing technology.[/caption] The Mortgage Leader spoke with Michael Detwiler, equity partner and CEO of Class Valuation, about the decision to invest in appraisal technology, the firm’s recent acquisition of Landmark Network, an appraisal management company--and why he predicts more consolidation… Read more...
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30-Year Industry Vet, Successful Producer Joins loanDepot
John Bianchi, a 30-year veteran of the mortgage business, has been named executive vice president for national sales at loanDepot. He will work with the executive team to cultivate and enhance market presence, develop differentiated products and services and create market penetration strategies designed to fuel individual producer as well as channel and company growth.… Read more...
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