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Inventory Rises, Affordability of Homes Drops Across U.S.

Inventory Rises, Affordability of Homes Drops Across U.S.

Wednesday, 23 January 2019
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Although the supply of homes for sale is up in many markets, both the number and share of homes that are affordable to a typical household has decreased from a year ago, according to a new report from Redfin, a real estate brokerage firm. The report considers all homes that were active on the market… Read more...
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Top Georgia-Based Broker Joins Atlantic Home Mortgage

Top Georgia-Based Broker Joins Atlantic Home Mortgage

Tuesday, 22 January 2019
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[caption id="attachment_9283" align="alignright" width="251"] Naveed Bhurgri[/caption] Naveed Bhurgri has joined Atlantic Home Mortgage as a partner from Bluestone Capital Group, a boutique mortgage brokerage he founded in 2006. “Naveed brings with him almost 20 years of experience and will be a tremendous asset as we work toward our goal of reducing the amount of time… Read more...
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Fannie Mae Expects Home Sales to Stabilize, Fewer Rate Hikes

Fannie Mae Expects Home Sales to Stabilize, Fewer Rate Hikes

Tuesday, 22 January 2019
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Fannie Mae expects home sales to stabilize in 2019 after falling in 2018, according to the Fannie Mae Economic and Strategic Research Group’s January 2019 Economic and Housing Outlook. Mortgage rates are expected to change little in 2019 from their level late last year of around 4.5 percent, allowing potential homebuyers time to adjust to… Read more...
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How Not Being Available 24 Hours a Day Can Increase Production

How Not Being Available 24 Hours a Day Can Increase Production

Monday, 21 January 2019
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By Brian Sacks My guess is that you were probably trained to always return your phone calls immediately, and that you should be available 24 hours per day, seven days a week, to succeed as an originator. Am I right? I know that’s how I was trained many years ago. In fact, it was so… Read more...
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Waters Lays Out Core Housing Reform Principles, Criticizes Carson

Waters Lays Out Core Housing Reform Principles, Criticizes Carson

Friday, 18 January 2019
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Earlier this week, January 16, Congresswoman Maxine Waters, D-CA, Chairwoman of the House Committee on Financial Services, delivered her first policy speech in the 116th Congress. Excerpted below, are her comments on the government sponsored enterprises, causes of the financial crisis and her core principles for housing. The committee also has a responsibility to look… Read more...
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PennyMac Launches HELOC Product

PennyMac Launches HELOC Product

Friday, 18 January 2019
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PennyMac Loan Services has launched a home equity line of credit product, with the objective of supporting the financing needs of consumers. The aim is to offer the banks 1.4 million customers another way to use their home equity for home improvements, debt consolidation and other expenses while allowing them to maintain their first-mortgage interest… Read more...
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Consumers Dubious of Banks, Notes Survey

Consumers Dubious of Banks, Notes Survey

Wednesday, 16 January 2019
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Many consumers aren’t comfortable working with a lender, even 10 years on from the financial meltdown. More than a quarter, 26 percent, of respondents don’t trust big banks since the housing crash of 2008, and 32 percent, reported they have no familiarity at all with the available mortgage-lending options, according to the Homebuyer Sentiment Survey… Read more...
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LenderCity Deploys Smart Chatbot

LenderCity Deploys Smart Chatbot

Monday, 21 January 2019
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LenderCity has deployed FinKube's Electronic Loan Services Assistant, a chatbot for interacting with prospective borrowers on the LenderCity website. "The technology enabled us to offer a high-tech, high-touch experience by leveraging technology to reduce cost," said Gregg Harris, principal at LenderCity. "It enabled us to reduce the work the loan officer does up front. The… Read more...
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MBA: New Home Purchase Apps Dropped 6.1% in December

MBA: New Home Purchase Apps Dropped 6.1% in December

Thursday, 17 January 2019
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The Mortgage Bankers Association Builder Application Survey data for December 2018 shows mortgage applications for new home purchases decreased 6.1 percent from a year ago. Compared to November 2018, applications decreased by 13 percent. This change does not include any adjustment for typical seasonal patterns. “New home sales declined for the second straight month in… Read more...
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Radian Acquires Artificial Intelligence Company

Radian Acquires Artificial Intelligence Company

Tuesday, 15 January 2019
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[caption id="attachment_9147" align="alignright" width="200"] Richard Thornberry, CEO of Radian.[/caption] Radian Group Inc. has acquired Five Bridges Advisors LLC, a developer of data analytics and predictive models leveraging artificial intelligence, machine learning and traditional econometric techniques. The acquisition is consistent with Radian’s growth and diversification strategy, as well as its focus on the core product offerings… Read more...
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