Mortgages

There's quite a bit of inventory out there that would have otherwise been returned to the market but for unduly harsh political theater writes the CEO of the National REO Brokers Association.

Nationwide Property & Appraisal Services announced Friday the purchase of Integrity Appraisal Management.

Measures commonly used may not fully account for regional variations like those seen recently, a working paper by Federal Housing Finance Agency staff finds.

Eligible borrowers would receive a credit for up to $5,000 to pay for expenses like insurance, taxes and closing costs. The program comes months after fair-lending advocacy groups criticized KeyBank for its low rate of lending to Black borrowers.

A resilient U.S. economy, lingering inflation and comments from the Federal Reserve contributed to a 10-basis-point hike in the 30-year fixed rate, Freddie Mac said.

The 30-year-fixed conforming loan rate was had its largest in over a month, contributing to the first decline in activity in four weeks, the Mortgage Bankers Association said.

The new review requirements are set to go into effect in mid-September and will replace temporary guidance put in place following a 2021 building collapse.

This agreement comes approximately one month after the REIT agreed to buy Arlington Asset Investment.

The Home Loan banks are failing to serve huge numbers of Americans because of their reliance on outdated credit scoring models.

The industry veteran, who most recently ran Finance of America, is advising mortgage shops on how to survive a mortgage contraction.

Also, Fannie Mae on climate risk and a non-QM product lenders are loving right now.

The payment supplement partial claim the Federal Housing Administration proposed could be effective but not as is, according to the Mortgage Bankers Association and two other groups.

The transaction for the lending specialist ends a joint venture with Serva, which is a relocation services company.

The latest quarterly increase in revenue comes as other reports show home values heading upward and affordability declining.

The qui tam suit filed in 2018 alleged errors in government loan submissions all the way back to 2008, the year it was founded.

Some pandemic-related gains have been ceded to depositories, national numbers from last year's Home Mortgage Disclosure Act reporting confirm.

Those living in San Francisco and New York want to switch cities in higher proportions than ever before, the brokerage and search platform found.

We surveyed 87 professionals at mortgage companies to find out what's on their tech agenda for this year, including investment plans and thoughts on transformational tools. Here's what we found out.

Under a 2-year-old program, homebuyers receive grants of up to $5,000 for down payments and closing costs. JPMorgan Chase said the latest expansion — to some new 3,000 census tracts in 16 U.S. markets — may help an additional 1,000 customers obtain mortgages.

More than one-third of average wages is now needed for borrowers to make regular payments on the typical home, according to Attom. Meanwhile, the Mortgage Bankers Association found monthly costs rose 14% annually.