The latest economic and policy trends facing mortgage servicers

Join this webinar for an in-depth roundtable discussion on economic and policy trends impacting servicers as well as a look ahead at strategies servicers should employ in the next year.

2021 RealTrends Brokerage Compensation Report

For the study, RealTrends surveyed all the firms on the 2021 RealTrends 500 and Nation’s Best rankings, asking for annual compensation data for the 2020 calendar year.

Zillow analyst on whether home prices can keep climbing

Today’s episode of HousingWire Daily features an interview with Nicole Bachaud, as she discusses annual and monthly home price appreciation growth, rising inventory levels and rent prices.

Lenders, it’s time to consider offering non-QM products

The non-QM market is making a comeback following a pause in 2020. As lenders rush to implement, Angel Oak is helping them adopt these new lending products.

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.

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