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Emerging Trends in Mortgage Lending: Navigating the Landscape with Confidence Explore the emerging trends in mortgage lending, including digital platforms, data-driven decisions, green lending, and regulatory changes, and how they are reshaping the industry.
Lending (1516)
Ellie Mae: Millennials Drove Close Times Down to Fastest Times Since Feb., 2015
With interest rates for 30-year mortgages declining, Millennials moved quickly to close their mortgages in March 2019. According to the latest Ellie Mae Millennial Tracker, the average 30-year note rate dipped to 4.75%, down from 4.85% in February, and the lowest percentage since April 2018. At the same time, average time to close for all… Read more...
Consumer Financial Protection Bureau Proposes Changes to HMDA Rules
The Consumer Financial Protection Bureau (Bureau) today issued a Notice of Proposed Rulemaking (NPRM), which proposes to raise the coverage thresholds for collecting and reporting data about closed-end mortgage loans and open-end lines of credit under the Home Mortgage Disclosure Act (HMDA) rules. The NPRM would provide relief to smaller lenders from HMDA’s data reporting… Read more...
Freddie Mac Offers New Program for Manufactured Housing
Yesterday Freddie Mac announced it's new CHOICEHomeSM program. This program is designed to bring conventional mortgage financing to factory-built homes to increase the availability of quality, affordable homes that borrowers want. It should increase borrower access to high-quality, affordable manufactured homes, while providing lenders with flexible financing options. CHOICEHome is available with Freddie Mac’s Home… Read more...
Intercontinental Exchange, Owner of MERS, Buying Simplifile for $335 Million
Intercontinental Exchange (ICE), the company that bought MERS last year and a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced that it has entered into a definitive agreement to acquire Simplifile, LC. Simplifile operates one of the largest networks connecting the agents and jurisdictions that underpin… Read more...
Homestreet Earnings Report Reflects Costs of Exiting Single Family Mortgage Business
Homestreet Inc (Nasdaq:HMST) announced it's quarterly earnings. The company, who recently made a decision sell most of its residential mortgage business to Penny Mac, New Residential Mortgage and Homebridge Financial Services, had a net loss ( on both continued and discontinued operations) of $1.7M in Q1 2019 versus net income of $15.2M in Q4 2018.… Read more...
Redfin Survey: More Millennial Homebuyers Saving for a Down Payment the Old-Fashioned Way
Seventy-two percent of millennial homebuyers this year are saving for a down payment directly from their paychecks, up from 69 percent last year, according to a March survey of 2,000 U.S. homebuyers and sellers commissioned by Redfin, the tech-powered real estate brokerage. Over 500 respondents born between 1981 and 1996 responded to the survey. Redfin… Read more...
FHFA Releases It's Scorecard Progress Report.
The FHFA on Friday released its Progress Report that summarizes the progress Fannie and Freddie have made in achieving the FHFA’s three strategic goals of: MAINTAIN, in a safe and sound manner, foreclosure prevention activities and credit availability for new and refinanced mortgages to foster liquid, efficient, competitive, and resilient national housing finance markets; REDUCEtaxpayer… Read more...
Visionet Hires Martin Foster for Leadership Roll
Mortgage Servicing leader with 35 years of experience joins as Senior Vice President, Consumer Lending Visionet Systems Inc., a global technology and services provider to the US mortgage industry, announced today that the company has hired Martin Foster, a mortgage servicing leader with 35 years of industry experience. [caption id="attachment_12087" align="alignleft" width="287"] Martin Foster,… Read more...
Newly Released Census Data Show Surprising Drop in Homeownership Rate
Census Data released yesterday showed that the U.S. rate of homeownership fell from 64.8% in the fourth quarter of 2018 to 64.2% in first quarter of 2019. This was a larger than anticipated drop that put an end to the steady gains that have been made since Q1 2017. Of the four regions in the… Read more...
Flipping Rates Near Historic Highs, But Flippers Are Playing a Different Game
According to recent report issued by Corelogic, home flipping continues to rise and is currently at the hightes level since they started tracking in 2002. This time however it isn’t just a matter of investors focusing on quick fix based on speculative house price movements, like in the past. Now short-term investors are focused on… Read more...
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