Mortgage credit availability was unchanged in April, as originators tightened their government lending programs but made more jumbo offerings available.
Technology startup Eave is making a foray into Colorado's fast-moving, high-end mortgage lending market by offering software designed to quickly analyze jumbo borrowers' more complex incomes and assets.
Mortgage credit availability tightened during March to its lowest level in over a year, adding another headwind to a market challenged by rising interest rates and a shortage of homes for sale.
As policymakers take another crack at housing finance reform, federal leaders and the housing lobby are once again perpetuating the false notion that ending government guarantees would cause the 30-year, fixed-rate mortgage to vanish.
If GSE reform leads to the 30-year mortgage's demise, homebuyers' monthly payments could soar by $400, according to a recent Zillow estimate. But lenders aren't convinced this housing finance staple is in any danger of being replaced.
Loan program revisions made by one large conventional mortgage investor led to a decrease in total residential home finance credit availability in February.
The $446 million Pearl Street Mortgage Company 2018-1 Trust is backed by 30-year, fixed-rate loans with credit characteristics in line with recent private-label prime jumbo transactions rated by Fitch Ratings.
Darryl White sees an opportunity for Bank of Montreal to take more market share in the United States, and he’s betting on investments in mortgage lending, commercial banking and capital markets to get there.
Recent stock market volatility may further constrain jumbo lending, while inflation concerns have lenders paying close attention to rising mortgage rates.
