It’s official: Steve Horne out as Wingspan CEO

It’s official: Steve Horne out as Wingspan CEO

Jason Spooner takes over; Horne becomes senior advisor

This is why Fannie and Freddie mortgage initiatives won't work

MBA declarations are feel-good, but temporary

Warren calls for GAO investigation of nonbank servicers

Asks GAO to review “unprecedented” growth of nonbank servicers
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Items Tagged with 'Refinance'

ARTICLES

Less risk, more optimism in Vegas

Jonathan Corr: "What's going to happen to me?"
Jonathan Corr
As thousands of mortgage bankers and service providers gather in a place that grooves on the promise of quick riches and instant pleasure, they are all asking the same question: what is going to happen to me in today's lending market?
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Churchill Mortgage's purchase volume surges 49%

Purchases claim larger production volume
Brena Swanson
Churchill Mortgage experienced an increase in homebuyer demand, recording a 49% year-over-year growth in its purchase volume from April to September.
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Fannie Mae to raise modification interest rate

New rate effective on Oct. 14
Ben Lane
“The Fannie Mae Standard Modification interest rate is not determined on a preset schedule,” Fannie said in the note to its servicers. “The interest rate is subject to periodic adjustments based on an evaluation of prevailing market conditions.”
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Even Ben Bernanke can’t refinance right now

Suggests lenders may have “gone a little bit too far"
Ben Lane
Speaking at a conference of the National Investment Center for Seniors Housing and Care in Chicago, Bernanke said that the market is so tight right now that he was unable to refinance his own home loan recently.
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Freddie Mac: Mortgage rates barely nudge

Rates stagnant amid weak housing data
Brena Swanson
Mortgage rates barely moved from the week prior amid mixed housing data, with the 30-year, fixed rate mortgage averaging 4.20% for the week ended Sept. 25.
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Here’s why mortgage rates won’t hit 2014 expectations

Originally estimated to reach 5%
Brena Swanson
Mortgage rates have continuously defied expectations in 2014. Originally estimated to hit 5% by the end of this year, September's 30-year, fixed-rate mortgage averaged 4.12%.
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Here’s why some homeowners throw away $11,500 a year on mortgage payments

Borrowers fail to refinance despite great market conditions
Brena Swanson
While buying and financing is one of the most important financial decisions a household can make, they are failing at making it to the next step: refinancing. Here's why.
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Freedom Mortgage found guilty of defrauding homeowner

Court rules lender violated New Jersey Consumer Fraud Act
Ben Lane
“These facts then lead to the conclusion that the loan was granted in order to engender fees for the lender and not for the benefit of the borrower,” Bergen County Superior Court Judge Gerald Escala wrote in his decision.
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Mortgage applications dip 2.7%

Rates post little movement
Brena Swanson
Mortgage applications fell 2.7% from one week earlier, losing any gains made last week. Meanwhile, the refinance share of mortgage activity declined to 54% of total applications from 55% the previous week.
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GIF: 4 charts, 1 changed housing market

Purchase vs. refinance
Brena Swanson
Although rates have managed to stay surprisingly low, this is the first time since 2000 that the purchase market is dominating the mortgage market.
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