Lending - The Mortgage Leader

Navigating the Transition: The Shift in Mortgage Lending Rates The mortgage industry is witnessing a significant shift in lending rates, influencing both lenders and borrowers. This article explores the implications of these changes and strategies for adapting to new market conditions.

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Lending (1519)

Growth Shifting to Second-Time Homebuyers: Genworth Report

Friday, 20 March 2020

Lending

Written by Chris Frankie

First-time homebuyer growth is turning a headwind into tailwind for the second-time homebuyer market. That’s according to Genworth Mortgage Insurance’s First-Time Homebuyer Market Report. The pool of potential second-time homebuyers increased for the first-time since 2008 to 8.3 million in 2019 and will grow by over three million in five years. Read more...

Refinances Jump to 10-Year High After Rates Tumble

Wednesday, 18 March 2020

Lending

Written by Chris Frankie

As concerns about the coronavirus health emergency drive down interest rates, homeowners are rushing to refinance their mortgages. So reports CNBC. Read more...

European Banks Delay Mortgage Payments for COVID-19 Victims

Thursday, 19 March 2020

Lending

Written by Chris Frankie

Institutions in Italy and the United Kingdom have been working to push back mortgage payment deadlines for borrowers impacted by the coronavirus. So reports CNN. Read more...

What Does Surprise Cut from The Fed Mean for Mortgage Rates?

Tuesday, 10 March 2020

Lending

Written by Chris Frankie

Last week, the The Federal Reserve made a surprise—between meetings—cut, lowering the fed funds rate by a half-point, to a range of 1% to 1.25%. How will this impact mortgage rates? Read more...

Gen Xers Denied Home Loans Most Often: Report

Friday, 13 March 2020

Lending

Written by Chris Frankie

The generation that faces home loan denials most often is Gen X, the cohort from 40 to 54 years old, according to a new survey by the National Association of Realtors. So reports Yahoo Finance. Read more...

U.S. Housing Market is Short by 3.3M Units: Freddie Mac

Thursday, 12 March 2020

Lending

Written by Chris Frankie

According to a new research report by Freddie Mac, the U.S. housing market is undersupplied by an estimated 3.3 million units, a shortage that’s rising by roughly 300,000 units annually. So reports Yahoo Finance. Read more...

Mortgage Rates Sink to Lowest in 50-Year History

Wednesday, 11 March 2020

Lending

Written by Chris Frankie

As coronavirus fears drive down interest rates, borrowing costs for potential homeowners have sunk to their lowest going back nearly half a century. So reports Business Insider. Read more...

Refi Lending Surges, Retention Suffers: Black Knight

Thursday, 05 March 2020

Lending

Written by Chris Frankie

Black Knight estimates that there are 11.1 million refi candidates. The firm 30-year mortgage holders with 720+ credit score, 80% max LTV and who can shave at least .75% off their first lien rate as refi candidates. Black Knight bases its analysis off of the Freddie Mac PMMS 30-year average, which came in at 3.45%… Read more...

Mortgage Fraud Risk Falls to New Low: First American

Friday, 06 March 2020

Lending

Written by Chris Frankie

The First American Loan Application Defect Index for January 2020, showed that the frequency of defects, fraudulence and misrepresentation in the information submitted in mortgage loan applications decreased by 3% compared with the previous month. Read more...