The Key to Reducing Post-Refi Boom Borrower Churn

In this webinar, PRMG Chief Lending Officer Kevin Peranio will help attendees sort through the right technologies as he shares the tech investments that have had the biggest impact on his business.

Tracey Velt breaks down the latest RealTrends 500 rankings

During the episode, Velt highlights which brokerages achieved top rankings in both categories for 2020, and shares what stood out to her the most about the rankings.

Navigating Closing Struggles in 2021’s Purchase Market

Join this webinar to discover the most current information on hybrid and full eNote eClosings and discuss key criteria to successfully implementing your eClosing strategy.

About 7M refi candidates missed the “forever rate” boat

Rates jumped to 3.17% last week and Black Knight reported that there are now just 11.1 million “high quality” refi candidates. The smallest number of potential refi candidates in a year.

Mortgage

New York Fed: Fewest foreclosures on credit reports since 1999

Bankruptcies also hit new low

The just-released Federal Reserve Bank of New York Household Debt and Credit Report states aggregate household debt balances were largely flat in the first quarter of 2015.

According to the report, only about 112,000 individuals had a new foreclosure notation added to their credit reports in the first quarter of this year, the lowest total since at least 1999.

Click here to access the full report.

Four percent fewer consumers filed for bankruptcy, according to their credit reports, bringing the quarterly total to its lowest point since early 2006.    

Total household indebtedness is $11.85 trillion, a $24 billion, or 0.2% increase during the first quarter of this year.

The information is pulled from anonymous Equifax credit data.    

The slowdown in growth is attibuted to the lack of aquiring higher mortgage balances, the largest component of household debt.

Mortgage balances stood at $8.17 trillion in the first quarter.

Home equity lines of credit, which were $510 billion at the end of fourth quarter, 2014, also remain the same.

Any increase in debt is largely attributed to increases in student loans ($32 billion) and auto loans ($13 billion).

The Fed also reports a $16 billion decline in credit card balances, so this partially offsets the gains in car and student loans. 

Most Popular Articles

Millions will enter housing market in 2021: Zillow

Up to 2.5 million households could enter the housing market in 2021, per Zillow. The buyers will descend on the “secondary cities” across the U.S.

Apr 07, 2021 By

Latest Articles

William Raveis ain’t no stinkin’ iBuyer

Like others, resi brokerage & lender William Raveis is happy to buy your home. But its new program doesn’t mean it’s an iBuyer.

Apr 09, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please