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  • Dispelling the Myth of the 20% Down Payment
    By Odeta Kushi, Deputy Chief Economist at First American Since hitting a low point of 63% in 2016, the homeownership rate has rebounded, largely driven by millennial households purchasing their first homes. Many surveys, like one by Bank of the West, indicate that millennials are no different from previous generations–they… Read more »
  • Ask The Expert: Why Would I Need an Audited P&L on an FHA Loan?
    By Dave Hershman, Senior Vice President, Sales of Weichert Financial Question: I have an underwriter asking for an audited P&L on an FHA self-employment file and it will cost my client $600. Why would they need this on an FHA loan? This does not make any sense to me and… Read more »
  • Tech Startup Morty Launches First-time Homebuyers Platform
    Morty, an online mortgage startup, has announced a new platform for first-time homebuyers. So report TechCrunch and Forbes. The New York-based company said the platform will simplify the mortgage process for new homebuyers, slashing closing times to one-third of the industry average. Morty, which launched publicly in 2017, also said… Read more »
  • Zillow Slows Mortgage Division Hiring
    Zillow CEO Rich Barton said in the company’s latest earnings call that it is reducing the pace of hiring for its mortgage lending division. So reports Geekwire. A year after Zillow moved into the mortgage space by acquiring Mortgage Lenders of America, the company is still working out the kinks… Read more »
  • Three Keys to Social Media Content Marketing Success
    By Pat Sherlock, Founder QFS Sales Solutions Lenders and their originators have long used TV, radio, direct mail, and print ads to get their message out to potential buyers. Pat Sherlock In the past, these standard marketing tools worked well, but today they are overshadowed by social media content marketing… Read more »
  • Mortgage Applications Surge in Rush to Refinance
    Total mortgage application volume climbed 5.3% in the week ended August 2, according to the Mortgage Bankers Association’s data, a 46.5% increase from last year. So reports CNBC. Much of the volume was from refinances, which leapt 12% for the week and 116% from a year ago. Mike Fratantoni, MBA… Read more »
  • Freedom Mortgage Buys J.G. Wentworth Home Lending
    Freedom Mortgage has announced a deal to acquire J.G. Wentworth Home Lending. So reports The Title Report. Although terms were not disclosed, the acquisition should boost Freedom’s presence in the Mid-Atlantic region, the companies said. The J.G. Wentworth Co. subsidiary originates more than $6 billion in annual mortgage volume. Read… Read more »
  • New Whitepaper: Treasury and Mortgage Rates Perspective, August 2019
    Treasury yield plummeted at the beginning of August after a confusing post-meeting press conference by Fed Chairman Powell. That was followed by an escalation in the trade dispute between the U.S. and China. In the “Treasury and Mortgage Rates Perspective, August 2019” whitepaper, Bill Berliner, Director of Analytics at Mortgage… Read more »
  • Homebuilder Labor Shortage Hurting Affordability
    Homebuilders said last month that they continue to face labor shortages that are driving housing prices higher, according to a new survey by the National Association of Home Builders. So reports Boston Agent Magazine. The survey found that building shortages remained widespread across each of more than a dozen construction… Read more »
  • Many Home Buyers Don’t Shop Around for a Mortgage
    A new survey by Fannie Mae finds that a surprising percentage of people do not shop around when buying a home. So reports MSN Money. According to the survey, 38% of U.S. home buyers picked their mortgage lender without comparison shopping. “By not shopping around to give themselves leverage when… Read more »
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