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Navigating the Fluctuations: Mortgage Interest Rates and Their Impact Explore the impacts of recent mortgage interest rate fluctuations on the housing market and strategic approaches for lenders and borrowers.
Lending (1521)
Housing Sentiment Surges Just in Time for Spring Homebuying Season
The Fannie Mae Home Purchase Sentiment Index jumped 5.5 points in March to 89.8, reversing last month's slight decline and reaching its highest point since June 2018. Increases in the "Good Time to Buy" and "Good Time to Sell" components drove the measure of consumer sentiment higher, with the two rising 7 and 13… Read more...
Class Valuation Acquires AMC
Class Valuation, a real estate collateral valuation and appraisal management, has acquired appraisal management company—Janus Valuation & Compliance. “For us, clients come first. Strengthening our ability to support each client is something Class values highly.” said Mike Detwiler, CEO and partner for Class. Janus has developed customized AMC service models with a focus on retail,… Read more...
Why the Yield Curve Might Have Fooled Some Experts
By Mark Flemming April Fools’ might be over, but that hasn’t dampened recession fears from generating headlines. Broadly speaking, the U.S. economy is performing well. Wages are increasing and we’re near full employment. So, why are some experts raising recession concerns? Beware the Inverted Yield Curve Late last year and again in March, the yield… Read more...
HomeStreet to Sell Up to 50 Offices, Liquidate $14.3B in MSRs
Homebridge Financial Services Inc. will acquire up to 50 of HomeStreet Bank’s satellite and fulfillment offices and can hire the employees. Homebridge has agreed to a purchase price of the net book value of the acquired assets plus a premium, as well as the assumption of certain home-loan center and fulfillment office lease obligations. In… Read more...
NewRez Deploys CRM Increases LO Application Rate by 30%
NewRez LLC a national-mortgage lender, has deployed a customer acquisition platform designed to boost its lead management process. The aim of implementing the technology was to optimize lead potential and accelerate the origination process. NewRez was formerly known as New Penn Financial. FinLeads, from the Tavant Velox suite, is a customer engagement and aggregation platform… Read more...
Analysis: Property Taxes Rose 4% in 2018
Property taxes assessed on single-family homes were $304.6 billion in 2018, an increase of 4 percent, compared with $293.4 billion in 2017. The average property taxes of $3,498 for a single-family home in 2018 was up 3 percent from the average property tax of $3,399 in 2017, and the effective property tax rate of 1.16… Read more...
North Carolina’s GOP Chairman Indicted for Bribing Insurance Commissioner
A federal criminal indictment charged four people with public corruption and bribery, for an alleged conspiracy to commit wire fraud and bribery. According to the indictment, the aim was to bombard the state’s top insurance commissioner with gifts—in exchange for preferential business treatment. North Carolina state GOP chairman Robin Hayes and Greg Lindberg, founder of… Read more...
BofA Unveils $5B Affordable Homeownership Program
Bank of America has unveiled a $5 billion affordable homeownership program for low- to moderate-income and multicultural homebuyers and communities across the country. The Bank of America Neighborhood Solutions program will help more than 20,000 borrowers and is planned for five years. It encompasses a new down payment and closing-cost assistance option, innovative low- down-payment… Read more...
Heard Around the Industry: Arch MI Updates RateStar
Arch Mortgage Insurance Company has updated their premium pricing tool, RateStar, to provide express quotes and customized pricing options through a portal. RateStar was launched 10-years ago as a tool that could evaluate individual loan risk with more precision than any rate sheet. RateStar offers a mortgage insurance buydown feature, and its buydown feature allows… Read more...
Mortgage Applications Surge 18.6%
Mortgage applications increased 18.6 percent from one week earlier, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending March 29, 2019. The Market Composite Index, a measure of mortgage loan application volume, increased 18.6 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index… Read more...
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