The volume of requests for conforming loans submitted online to Zillow's Mortgage Marketplace last week dropped 26% from the prior week. Last week 63% of requests were for purchase loans, 35% were for refinances and 2% were for home equity loans, according to Zillow. The week previous to last Zillow said 55% of requests were for purchase loans, 43% of requests were for refis and 2% were for home equity product.
More depositories are getting involved in the securitized market and the competition is likely to add to expense management challenges of smaller balance loans.
Seller-impersonation attempts more than doubled in two years, with artificial intelligence providing fraudsters new tools to commit crimes, a report said.
Homebuyers who are preapproved have the best opportunity to take advantage of fall discounts, giving lenders an opportunity to roll out marketing around this.
Bank of America upped its forecast for non-qualified mortgage issuance, with investors, particularly insurers, buying these and other non-agency securities.
NAF Insurance customers save $719 on average, Phil Miller, senior vice president of strategic partnerships at New American said.
Polling suggests that Democrats could retake control of the House and have a formidable shot at the Senate as well. If they win both chambers, oversight of bank regulation, crypto and Trump administration officials will be the name of the game.
