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Navigating the Lending Landscape Amid Rising Interest Rates Explore the challenges and strategies in the lending landscape amid rising interest rates. Discover how lenders are adapting and educating borrowers.
Lending (1534)
FHA Loan Limits Increased for 2019
The Federal Housing Administration released its new schedule of loan limits for 2019, with most areas in the country to experience an increase in loan limits in the coming year. FHA is required by the National Housing Act, as amended by the Housing and Economic Recovery Act of 2008, to set single family forward loan… Read more...
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Fannie Foresees Slower GDP Growth in 2019
Full-year 2019 real gross domestic products growth is predicted to slow to 2.3 percent, down from 2018's projected 3.1 percent, due to the waning impact of the Budget Reconciliation Act, a widening trade deficit, and moderating business investment growth, according to the Economic and Strategic Research Group at Fannie Mae. [caption id="attachment_7581" align="alignleft" width="150"] Fannie's… Read more...
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Freddie Mac: Interest Rates Decline Significantly
Interest rates dropped significantly after several weeks of moderating, according to the Primary Mortgage Market Report from Freddie Mac. [caption id="attachment_8439" align="alignleft" width="272"] Khater: Rates have remained flat or fallen for five straight weeks.[/caption] “The 30-year fixed fell to 4.63 percent this week, the lowest it has been since mid-September,” said Sam Khater, Freddie Mac’s… Read more...
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MBA: New Home Purchases Dropped 11% in November
The Mortgage Bankers Association Builder Application Survey data shows mortgage applications for new home purchases decreased 11 percent in November compared with the same time period a year ago. Compared to October 2018, applications declined by 14 percent. This change does not include any adjustment for typical seasonal patterns. [caption id="attachment_8412" align="alignleft" width="144"] MBA's Kan:… Read more...
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Finance of America Agrees to $14.5M Fine
Finance of America Mortgage LLC has agreed to pay the United States government $14.5 million to settle a False Claims Act lawsuit involving mortgage fraud. The lawsuit relates to Federal Housing Administration loans originated by Gateway Funding Diversified Mortgage Services, which Finance of America acquired in 2015. [caption id="attachment_8407" align="alignleft" width="288"] Gateway focused on its… Read more...
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Lenders’ Pessimism Hits New Low
Lenders pessimistic about their ability to generate profits has fallen to an all-time low. According to Fannie Mae’s Q4 2018 Mortgage Lender Sentiment Survey, the outlook for profit among lenders established a low across all loan types--GSE-eligible, non-GSE-eligible, and government. The survey polls senior executives of its lending institution customers on a quarterly basis to… Read more...
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Texas Capital Launches Digital Mortgage Program
Texas Capital Bank has launched their eMortgages program, becoming one of the first banks in the U.S. to fully support digital mortgages. By providing financing for eMortgages, Texas Capital Bank aims to solve the liquidity issue for lenders, and bridge the financial gap required to help eMortgages take off. "The team is proud to be… Read more...
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Homeowners’ Equity Rises 9.4%
Homeowners with mortgages have seen their equity increase 9.4 percent year over year, a gain of almost $775.2 billion since the third quarter of 2017. Also, the average homeowner gained $12,400 in home equity between the third quarter of 2017 and the third quarter of 2018, according to the Home Equity Report from Corelogic. While… Read more...
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Leaders on Leadership: Kristy Fercho of Flagstar Bank
Name: Kristy Fercho Title: President of Mortgage Company: Flagstar Bank Number of Employees She Manages: 1,800 Mortgage Exec Since: 2001 Who Inspires Her: Her father, Willy Williams. In 1969, in the aftermath of the 1968 Mexico Olympics, a tumultuous era for Civil Rights, Dick Clausen, a forward-thinking athletic director at the University of Arizona,… Read more...
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Synovus Gains Regulators' Approval for Acquisition, More
Synovus Financial Corp. has received regulatory approval from the Federal Reserve and the Georgia Department of Banking and Finance to complete the merger with FCB Financial Holdings Inc., owner of Florida Community Bank. The merger ofFlorida Community Bank into Synovus is slated to be completed around Jan. 1, subject to the satisfaction of customary closing… Read more...
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