Adam Constantine on MLK Jr.’s impact on housing equality

During the interview, Constantine explains why the industry needs to focus on evoking intentional change rather than launching lackluster initiatives.

Navigating capacity concerns amidst record-high volumes

High loan volumes continues to loom large in the new year, making the “one-stop-shop” approach to the servicing and lending process even more appealing.

Amid record-high origination volumes, mortgage fraud risk is down

CoreLogic's recently released Mortgage Fraud Report is the industry standard for nationwide fraud monitoring and analysis. Read the findings here.

How student loan debt impact homeownership

Student loan expert Catalina Kaiyoorawongs shares her practical and tangible advice for people who feel overwhelmed by their student loan debt.

Mortgage

Chase reorganizes staff to handle mortgage application boom

Half of home equity staff will be moved to mortgages

JPMorgan Chase is shifting half of its home-equity staff to mortgages to keep up with demand, according to Bloomberg.

“More and more customers are buying and refinancing their homes with Chase,” Chase spokeswoman Amy Bonitatibus said to HousingWire. “As such, we’re shifting resources to handle the increased volume and continue to close loans fast and on-time. This week, we increased our on-time closing guarantee to $2,500.”

According to Bloomberg, Chase is planning to hold off on marketing for HELOCs, as home-equity lines of credit have been less popular among Americans and the banks that offer them.

This decision was made in anticipation of a surge in demand for home loans, as the housing market is looking at a strong spring, and coronavirus fears are driving mortgage rates lower.

Just this week, the Mortgage Bankers Association indicates mortgage applications increased by 1.5% from the previous week. The MBA also reports the Refinance Index is 152% higher than the same week one year ago.

As homebuying season has commenced earlier this year and mortgage rates are hitting record lows, the housing market has heated up early.

In fact, January’s new home sales spiked 18.6% from 2019, according to the Census Bureau and the Department of Housing and Urban Development. Sales of new homes jumped to an annualized rate of 764,000 last month.

According to Census data, January’s pace increased from December, which was upwardly revised from 694,000 to 708,000.

Most Popular Articles

Prepare for the rise in mortgage rates

Economists offer their takes on how high mortgage rates will climb, how lenders will respond and what impact this will have on the housing market. HW+ Premium Content

Jan 18, 2021 By

Latest Articles

United Wholesale Mortgage makes public debut

United Wholesale Mortgage’s debut caps a wild six months for IMBs across America, in which a dozen large or mid-sized firms revealed plans to go public.

Jan 22, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please