Articles Tagged with ''MBA''

Multifamily lending hits all-new high in 2017

Here were the top five multifamily lenders
Multifamily lenders saw a great year in 2017, seeing an all-new record high for the year, according to a new study from the Mortgage Bankers Association. While 58% of active lenders made five or fewer multifamily loans in 2017, some lenders stood out above the rest. Read about the top five by mortgage volume.
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Hundreds of mortgage execs ask CFPB to change LO pay rules

MBA members push for loan officers compensation change
Almost 250 senior executives at some of the nation’s largest mortgage companies want the government to make changes to the rules surrounding how they’re allowed to pay their loan originators. Last week, the group of mortgage execs (organized by the Mortgage Bankers Association) sent a letter to the CFPB, calling on the bureau to change its Loan Originator Compensation rule.
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MBA: Mortgage applications reverse course, climb nearly 5%

But purchase and refinance levels remain lower
Mortgage applications reversed course, climbing 4.9% for the week ending October 19, 2018, according to data from the latest Mortgage Applications Survey from the Mortgage Bankers Association. MBA's AVP of Economic and Industry Forecasts Joel Kan said the previous week's Columbus Day holiday impacted refinance applications more so than purchases.
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This is how much purchasing power homebuyers lost this year

Rising interest rates and mortgage payments could turn potential buyers away
Home price growth and rate hikes have contributed to an uptick in monthly mortgage payments nationwide, leaving many prospective homebuyers speculating when it will be the right time to purchase a home. According to data collected from Redfin, purchasing power has dropped $29,750 in 2018.
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NAR: Existing home sales fall to 3-year low

Home prices experience the 79th consecutive month of year-over-year gains
After experiencing a flat August, existing home sales retreated in September, falling to the lowest level in nearly three years. NAR Chief Economist Lawrence Yun said that the decline in regional sales can be attributed to rising interest rates and the continuing climb of home prices.
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MBA: Mortgage applications fall further

Refinance Index drops 9% from prior week
Mortgage applications continued to decrease for the week ending October 12, 2018, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey. According to the report, the average contract interest rate for 5/1 ARMs reached its highest level in series history once again.
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Joel Kan: 3% to 4% growth predicted for the purchase market

Refinance market still slated to struggle
The purchase market is due for a rebound, according to Joel Kan, MBA associate VP of industry surveys and forecasts. Kan told members of the audience in a Q&A session at MBA Annual that current macroeconomic trends should create a swell for the purchase market – good news for the flagging mortgage market.
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Freddie Mac reveals Loan Advisor upgrades at MBA

New enhancements designed to give clients the “Freddie Edge”
Freddie Mac announced major tech upgrades to its Loan Advisor Suite on Monday at the MBA Annual in Washington, D.C. A number of new features – including the industry’s first integrated self-employment income asset solution – are designed to create a more efficient origination process and give clients what Single-Family EVP Dave Lowman calls "The Freddie Edge."
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