Organization Root Tag

The coronavirus pandemic has turned every industry on its head. For lending, it exposed the need for modernized, fully digital platforms.

If the underwriters' option is exercised, proceeds will bring in $112 million instead of a possible $176 million.

Sales of previously owned homes rose more than expected in September to the highest level in 14 years as a desire for more space and record-low mortgage rates continue to support demand.

Mortgage rates fell this week to another record low, and are now over a full percentage point below where they were five years ago, according to Freddie Mac.

As of the end of July, there were more than 1 million past-due mortgages not in forbearance plans, and the majority likely would have qualified for forbearance under the CARES Act.

But an expected drop in refinancings as mortgage rates rise should more than cancel that out, resulting in declining overall volume through 2023.

HUD Deputy Secretary Brian Montgomery questioned "whether we could ever totally accept desktop-only appraisals" at the Mortgage Bankers Association conference this week.

Mortgage volume continues to surge, driven by borrowers refinancing behind record-low interest rates, according to Ellie Mae.

The pandemic has turned stress-testing around liquidity from theory into an actual case study. And while lenders shore up their cash reserves, they explain why many have been hesitant to take advantage of Ginnie Mae's Pass-Through Assistance Program.

Leadership from those entities confirmed this week that they will move forward with a plan to add a controversial 50-basis-point charge for refinancing.