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

Mortgage credit availability tumbles to 5-year low

The Jumbo MCAI experienced a 36.9% freefall

The availability of mortgage credit in March crashed to the lowest level since June 2015, led by a pull-back in jumbo and non-QM lending, according to the Mortgage Bankers Association.

The trade group’s monthly Mortgage Credit Availability Index plummeted by 16.1% to 152.1 last month, MBA said on Thursday.

The Conventional index, meaning loans not backed by the government, decreased 24.2%, while the Conforming index that includes loans bought by Fannie Mae and Freddie Mac dipped by 2.7%, MBA said. The Jumbo index experienced a 36.9% freefall and the Government index that includes loans backed by the Federal Housing Administration and the Department of Veterans Affairs took a 6.6% downturn.

“There was a reduction in the availability of loans with lower credit scores and higher LTV ratios, and the largest pullback came from the jumbo and non-QM space,” said Joel Kan, MBA associate vice president of economic and industry forecasting.

Lenders are pulling back as the economic shutdown aimed at stemming the spread of COVID-19 spiked concern that borrowers wouldn’t be able to pay their bills, Kan said.

“This month’s release highlights the large retreat from jumbo and non-QM investors due to a sharp drop in liquidity,” Kan said. “Lenders are making credit criteria changes to account for the increased likelihood of forbearance and defaults, as well as higher costs.”

Most Popular Articles

These are the hottest housing markets in America

A housing market report from RE/MAX found that 36 of 51 metro areas had double-digit year over year sale price increases in August. Boise led the way.

Sep 17, 2021 By

Latest Articles

Refis stubbornly make a bit of a comeback

The week following Labor Day saw a flurry of mortgage loan application activity, with volume jumping by 4.9% for the seven days ending Sept. 17, according to the MBA. Refis were on the front foot again.

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

Log In

Forgot Password?

Don't have an account? Please