Origination

With record low mortgage rates driving buyer demand, home sales and prices spiked in September, shrinking the supply and days on market, according to Remax.

While using the 30-day SOFR as its index, Freddie Mac structured the deal so it could shift to a one-month term if and when that rate is approved.

A gauge of builder sentiment climbed to 85, the highest in records back to 1985, from 83 a month earlier, according to the National Association of Home Builders/Wells Fargo Market Index released Monday.

The CEO of SWBC Mortgage discusses her top priorities for the Mortgage Bankers Association, the election, the CFPB's seasoned QM proposal and what to expect at this week's conference.

There will be no cocktail parties, breakfasts, lunches and dinners at this year's annual convention for the Mortgage Bankers Association. Instead of industry folks traveling to Chicago as was planned, arranging meet and greets in the exhibit halls, participants will sit in front of their computers in homes scattered across the country, thanks to the precautions created by the pandemic.

The predominantly white universe of real estate investors may be used to working with people and companies with enough financial resources to have a track record in the business, but historic inequities have limited those opportunities for Black executives.

For many borrowers who might have qualified for conventional financing before the pandemic, non-QM loans are the only path forward toward homeownership.

As financial distress mounted, 12.4% of mortgagors missed payments across the second and third quarters of 2020 — and it could get worse, according to a study from the Mortgage Bankers Association.

This year will top the total volume generated in the housing boom year of 2003. Meanwhile, next year's 30-year FRM is predicted to stay at 2.8%.