What to expect at HousingWire’s Spring Summit

The focus of the Summit is The Year-Round Purchase Market. Record low rates led to a banner year for mortgage lenders in 2020, and this year is expected to be just as incredible.

Increasing lending and servicing capacity – regardless of rates

Business process outsourcing and digital transformation are proven solutions that more companies in the mortgage industry are turning to. Download this white paper for more.

HousingWire's 2021 Spring Summit

We’ve gathered four of the top housing economists to speak at our virtual summit, a new event designed for HW+ members that’s focused on The Year-Round Purchase Market.

An Honest Conversation on minority homeownership

In this episode, Lloyd interviews a senior research associate in the Housing Finance Policy Center at the Urban Institute about the history and data behind minority homeownership.

Mortgage

6 myths about Freddie Mac’s 3% down mortgage

Don't let these block you

Freddie Mac launched its Home Possible Advantage program featuring its 3% down payment option back in December in an attempt to open the credit box for borrowers wanting to jump into the housing market.

But what was designed to help more first-time homebuyers and other qualified borrowers jump into the market has struggled to get off the ground due to lender fears and even borrower misconceptions.  

HousingWire addressed the first issue in its recent webinar with Freddie Mac and U.S. Bank titled, “The secret to closing more 3% down mortgages.” A link to the full webinar will be available shortly.

As far as homebuyer misconceptions, Danny Gardner, Freddie Mac vice president, said in a post, “What will it take to green up this year's spring home-buying season with first-time buyers? Information is part of the answer. As an industry, we have to drive a stake through a few stubborn myths that are draining life out of the market.” 

One of the most common ones that Gardner mentions is that buyers believe they need a 20% down payment to qualify for a mortgage.

To counter those misconceptions Freddie Mac designed this handy flash card to dispel some of the common myths.

Click chart to enlarge

chart

(Source: Freddie Mac)

For more extensive help, check out Freddie Mac’s Real Estate Professionals Resource Center. 

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3d rendering of a row of luxury townhouses along a street

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