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Otting Asked to Explain Administration's GSE Plans

Otting Asked to Explain Administration's GSE Plans

Friday, 25 January 2019
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What has Joseph Otting, acting director of the FHFA, included in the plan for removing the government sponsored enterprises from conservatorship and how will it affect underserved communities? Concerned that he will take that step without their input, much less take the time to explain what’s planned, Rep. Maxine Waters, D-CA. and chairwoman of the… Read more...
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FHFA: Interest Rate Indices Unchanged in December

FHFA: Interest Rate Indices Unchanged in December

Friday, 25 January 2019
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The interest rates on conventional purchase-money mortgages were almost unchanged in December, compared with November December, according to several indices of new mortgage contracts from the Federal Housing Finance Agency. The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 4.83 percent for loans closed in late… Read more...
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POS Vendor Receives $50M Funding Round

POS Vendor Receives $50M Funding Round

Wednesday, 23 January 2019
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Cloudvirga, a provider of a point-of-sale mortgage software, has received $50 million in funding, for a total of $77 million. The investors were lenders and private-equity firms. Cloudvirga’s clients originated almost $200 billion in loans in 2018, an increase of 54 percent compared with the mortgage loan volume processed in 2017 through its technology. [caption… Read more...
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Ellie Mae: ARMs Set Market Share Record

Ellie Mae: ARMs Set Market Share Record

Thursday, 24 January 2019
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The market share of adjustable rate mortgages reached 9.2 percent—a high watermark for 2018. This percentage is up from 8.9 percent the month prior and from the 2018 low of 5.5 percent, according to the December “Origination Insight Report” from Ellie Mae. Also, the share was the highest since Ellie Mae began tracking the data… Read more...
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Even in a Digital Mortgage Era, Relationships Reign Supreme

Even in a Digital Mortgage Era, Relationships Reign Supreme

Wednesday, 23 January 2019
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By Chris Roberts, Bryan Caffrey and Paul Gigliotti The digital mortgage might be good for the mortgage industry, but some predict it will cause the demise of originators, realtors, appraisers and others. That is far, however, from a foregone conclusion. To be sure, the digital mortgage is on the front of everyone’s mind. Digitizing the… Read more...
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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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