Condominium loans can be tough to do because of secondary market investor restrictions. One originator has brought his or scenario to the Mortgage Grapevine seeking a funding source.
The condo involved is located in California and it is only 47% sold. The borrower needs a cash-out refinancing; even so, the $250,000 loan still will have a rather low 60% loan-to-value ratio. However the borrower’s credit score is 685.
To see more about this scenario, go to
Alongside its cloud-based brokerage, the company said the acquisition will transform eXp's existing infrastructure into a multi-model platform.
The opinion that supports national banks' ability to avoid paying interest on certain mortgage accounts in New York is unlikely to be the last word.
The latest offer, 70 cents per share higher than previously agreed to, equals the cash proposal made by UWM Holdings to win over Two Harbors' shareholders.
Employers hired an additional 115,000 workers in April, while unemployment remained unchanged at 4.3%. Despite the positive headline figure, a spike in newly unemployed workers and a rising number of underemployed workers suggests instability under the surface.
These originators had the highest combined volume of Federal Housing Administration, Veterans Affairs and U.S. Department of Agriculture mortgages last year.
Rocket Cos. fell just $200 million short of United Wholesale Mortgage in Q1, as servicing recapture from its massive MSR portfolio fueled $44.7B in closed loan volume.
