-
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)
Better.com Expands Lending Into Five News States
Better.com, a company that leverages machine learning and AI to digitize and automate every step of the home financing process to make homeownership more affordable and accessible, today announced it has expanded into several new markets, including Montana, New Mexico, Rhode Island, Nebraska and Wyoming. The expansion follows a $85M Series C capital raise and… Read more...
AEI: New Construction Starts Is Key To Affordable Housing
According to new data presented by American Enterprise Institute (AEI), the quest for affordable housing still has a way to go. For one, the standards of accommodation and equipment are above what lower income groups are accustomed to and are also above the means of these groups. Secondly, the idea of achieving meaningful cost reduction… Read more...
Freddie Macs New Security Provides Liquidity To Small Lenders
Freddie Mac (OTCQB: FMCC) announced a new effort to help financial institutions with less than $10 billion in assets access additional liquidity for the financing of affordable housing. The newly created Private Placement PC Swap execution (PPP) enables a lender to swap a pool of loans backed by affordable properties for Freddie Mac Multifamily PCs… Read more...
CFPB Proposes New Rules for Debt Collecting
Today the Consumer Financial Protection Bureau (Bureau) issued a Notice of Proposed Rulemaking (NPRM) to implement the Fair Debt Collection Practices Act (FDCPA). Among other things, the NPRM would set clear, bright-line limits on the number of calls debt collectors may place to reach consumers on a weekly basis; clarify how collectors may communicate lawfully… Read more...
Recent Drop In Rates Puts More Government Loans "In the Money" for Refinancing.
The Urban Institutes published its Monthly Chartbook for April. The data showed that a lot of loans are "in the money" when it comes to refinancing. This indicates that the increase in refinancing that that has been seen in the first quarter might be likely to continue. According to Urban Institute "Freddie Mac’s benchmark primary… Read more...
Short Takes From Around the Industry
New Day Financial: Rob Posner, founder and CEO of NewDay USA, the nation's 8th largest VA mortgage lender, announced the company has renewed its warehouse facility with BankUnited for $100 million. The company now has a total of $400 million in warehouse commitments, that also includes Texas Capital Bank and People's United Bank. Wolters Kluwer:… Read more...
Black Knight: Servicers Retained Just 18% of Customers Post-Refinance in Q1 2019, a 13-Year Low; Slight Rate Increase Reduces Refinanceable Population by 1 Million
The Data & Analytics division of Black Knight, Inc. (NYSE: BKI) just released its latest Mortgage Monitor Report, based upon the company's mortgage performance, housing and public records datasets. This month, by leveraging its McDash loan-level mortgage performance data in combination with public property records, Black Knight undertook an analysis of mortgage servicer retention… Read more...
Ellie Mae: Millennials Drove Close Times Down to Fastest Times Since Feb., 2015
With interest rates for 30-year mortgages declining, Millennials moved quickly to close their mortgages in March 2019. According to the latest Ellie Mae Millennial Tracker, the average 30-year note rate dipped to 4.75%, down from 4.85% in February, and the lowest percentage since April 2018. At the same time, average time to close for all… Read more...
Consumer Financial Protection Bureau Proposes Changes to HMDA Rules
The Consumer Financial Protection Bureau (Bureau) today issued a Notice of Proposed Rulemaking (NPRM), which proposes to raise the coverage thresholds for collecting and reporting data about closed-end mortgage loans and open-end lines of credit under the Home Mortgage Disclosure Act (HMDA) rules. The NPRM would provide relief to smaller lenders from HMDA’s data reporting… Read more...
Freddie Mac Offers New Program for Manufactured Housing
Yesterday Freddie Mac announced it's new CHOICEHomeSM program. This program is designed to bring conventional mortgage financing to factory-built homes to increase the availability of quality, affordable homes that borrowers want. It should increase borrower access to high-quality, affordable manufactured homes, while providing lenders with flexible financing options. CHOICEHome is available with Freddie Mac’s Home… Read more...More...
MOST READ STORIES
Fast,Easy & Free
