Origination

Quicken Loans president and COO, Bob Walters, provided the first keynote of the 2020 Digital Mortgage Conference and gave insight into how this year changed the industry.

The proposals offer lenders both cause for celebration and for concern.

Listing prices in California have risen 34% since January as inventory shriveled amid the pandemic.

Median closing prices hit a new record high during the four-week period ended Sept. 6, Redfin said.

Many states currently have temporary work-from-home guidance for licensed mortgage professionals that extends through at least Dec. 31, but some have fall expiration dates.

High-end home sales fueled the market in August while inventory fell to its lowest level in five years, culminating in one of the busiest summers ever for Houston housing.

Only 18% of refinance borrowers returned to the same lender in the second quarter, the second lowest rate since 2005.

Also the Federal Housing Administration, which is a key contributor of government-insured loans to Ginnie securitizations, recently set new conditions on mortgage applicants that have been in forbearance.

For both homeowners and renters, Philadelphia is a relatively affordable city with low housing costs when compared with other big cities, but Philadelphia's high poverty rate makes the city more expensive for its residents, especially renters.