News

Fed continues to send signals on looming interest rate hike

So, what does it mean for the mortgage market?
It appears that the Federal Reserve is continuing its tact of jumping through as many hoops as possible to prepare the market for the potential of another rate hike. So, what happens to the mortgage market whenever the Fed actually does raise rates? Here are a few insights.
Read More

Independent mortgage bank profits surge, more than double 1Q

What TRID impact?
Not only did the industry recover from the financial storm caused by TRID, but looking at the latest mortgage banker profit results for the second quarter of 2016, it’s almost like it never existed. This is good news for independent mortgage banks and mortgage subsidiaries of chartered banks as profits surge to new highs. Are you seeing the same trends and growth in your business?
Read More

MBA president: The next President needs a housing policy director

Time to turn the page in housing
It’s time to turn a new page for housing when it comes to policy making, according to the Mortgage Bankers Association president and CEO. While the past eight years have been spent recovering from the recession, it is now time to move on, and this could include creating a new housing policy director.
Read More

Moody’s: New GSE mortgage application positive for mortgage bonds

"Will lead to stronger loans"
Despite some disagreement in the industry, the recently announced redesigned Uniform Residential Loan Application, the standardized form used by borrowers to apply for a mortgage, should be a strong benefit to the industry. Although the industry is divided on the positive impact of the redesigned form, this new reports explains why it is, in fact, a good thing.
Read More

Former MGIC CEO William Lacy passes away at 71

Spent 28 years with company, served as CEO for 12 years
William Lacy, who served as chief executive officer of Mortgage Guaranty Insurance Corporation for 12 years, passed away Sunday at the age of 71, the company announced Monday. According to MGIC, Lacy, who retired as chairman and CEO in 1999 after spending 28 years with the company, died of respiratory failure.
Read More