Mortgage Tech Demo Day

In a half-day format, technology companies will demo their platforms and answer questions. You can tune in for the whole demo day, or strategically drop in on sessions to learn about specific solutions.

DOJ v. NAR and the ethics of real estate commissions

Today’s HousingWire Daily features the first-ever episode of Houses in Motion. We discuss the Department of Justice’s recent move to withdraw from a settlement agreement with the NAR.

Hopes for generational investment in housing fade in DC

Despite a Democratic majority, the likelihood of a massive investment in housing via a $3.5 trillion social infrastructure package appears slim these days. HW+ Premium Content

Road to the one-click mortgage

This white paper will outline how leveraging a credential-based data provider can save money for lenders, reduce friction for borrowers, speed time to close, and overall bring lenders one step closer to a one-click mortgage.


Mortgage credit tightened in September, MBA says

“Lenders are being more cautious,” says MBA’s Kan

Mortgage credit in September was the tightest since February 2014 as a weak economy prompted lenders to raise standards, the Mortgage Bankers Association said in a report on Thursday.

The group’s Mortgage Credit Availability Index fell 1.9% to 118.6 last month, indicating stricter requirements to get loans. The index plunged from record highs seen in late 2019 after the COVID-19 pandemic caused the sharpest economic contraction since the Great Depression.

“The housing market overall is on strong footing, but the data show that lenders are being cautious, given the spike in mortgage delinquency rates in the second quarter, as well as the ongoing economic uncertainty,” said Joel Kan, an MBA associate vice president.

Some of the reduction in credit availability was due to lenders discontinuing adjustable-rate mortgages benchmarked to the London Interbank Offer Rate, or LIBOR, Kan said. LIBOR is being phased out almost a decade after regulators discovered traders were manipulating the rate set by Britain’s biggest banks.

In addition, lenders have been reducing the availability of loans to borrowers with small down payments and low credit scores, Kan said.

“Across all loan types, there continues to be fewer low credit score and high-LTV loan programs,” Kan said, referring to loan-to-value, or the size of the mortgage compared to the value of the property.

The U.S. economy contracted 31% in the second quarter, compared to a year earlier, as the nation struggled to contain the worst public health crisis in more than a century. It was the sharpest contraction of GDP since the Great Depression, according to the Bureau of Economic Analysis.

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