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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)
FEMA Reverses Itself on Flood Insurance for Mortgages
The Federal Emergency Management Agency will issue and renew flood insurance policies, reversing an earlier ruling from the agency. The decision was controversial because 40,000 home sales are lost every month that flood insurance is not available to borrowers, according to the National Association of Realtors. "FEMA and the Administration deserve credit for hearing our… Read more...
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Pending Home Sales Drop 0.7 Percent in November
Pending home sales overall slipped in November but experienced small increases in the Northeast and the West, according to the National Association of Realtors. The Pending Home Sales Index, a forward-looking indicator based on contract signings, decreased 0.7 percent to 101.4 in November, down from 102.1 in October. However, year-over-year contract signings dropped 7.7 percent,… Read more...
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S&P CoreLogic Housing Price Index Reports 5.5% Annual Gain
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, has reported a 5.5% annual gain in October, remaining unchanged from the previous month. The 10-City Composite annual increase came in at 4.7%, down from 4.9% in the previous month. The 20-City Composite posted a 5.0% year-over-year gain, down… Read more...
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Freddie, InCharge Offering Automated Technology to Help Manage Debt
Freddie Mac and InCharge Debt Solutions, a non-profit credit counseling service, are providing a limited number of low- and moderate-income borrowers access to a platform designed to assist them in managing their outstanding loans. EarnUp is an online solution that helps borrowers manage loans, and provides personalized recommendations on how to pay down debts. “The… Read more...
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FHFA House Price Index Increases 0.3 Percent in October, Rates Rose in November
U.S. house prices rose in October, up 0.3 percent from the previous month, according to the Federal Housing Finance Agency seasonally adjusted monthly House Price Index. The previously reported 0.2 percent increase in September remained unchanged. The FHFA monthly HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie… Read more...
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CoreLogic Launches Alliance Network to Complement Real Estate Platform
CoreLogic has launched the Alliance Network, offering third-party solutions that complement and integrate with the organization’s real estate technology platforms such as Matrix, Realist and Trestle. The Alliance Network is made up of third-party solutions for multiple-listing organizations and real-estate brokers that enhance the use of CoreLogic real estate platforms. “A wide variety of real estate… Read more...
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Fannie, Freddie Approve Acquisition of GMIC
Fannie Mae and Freddie Mac have approved China Oceanwide Holdings Group Co.’s acquisition of Genworth Mortgage Insurance Corp. Also, the Delaware Department of Insurance gave the greenlight for Oceanwide to purchase Genworth Life Insurance Co. Genworth Life Insurance Co. is the insurance subsidiary of Genworth Financial Inc., a Delaware-based corporation. The regulatory approvals are conditional… Read more...
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CoreLogic to Enhance AMC; Will Exit LOS, Default Businesses
CoreLogic plans to enhance its appraisal management company services and will exit the loan origination software business and default management related services over the next couple of years in a bid to increase profit margins and enhance long-term organic growth trends. “The actions we are announcing today should further position the company to achieve its… Read more...
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Quicken Re-ups with Black Knight's Servicing Platform
Quicken Loans has signed a contract extension to continue using LoanSphere MSP, Black Knight’s servicing system. “As a company that has been ranked No.1 for client satisfaction in mortgage servicing [for] five years in a row by J.D. Power, it is clear we make our clients’ servicing experience a priority,” said Jay Farner, chief executive… Read more...
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Home Inventory Rises for Three Consecutive Months
After nearly four years of annual declines in inventory, the number of homes for sale has now increased year-over-year for three straight months. That's a bit of good news for home shoppers who face less competition as homes stay on the market for longer. But inventory levels are still well below where they were five… Read more...
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