Lending

Real estate, mortgage experts launch network for housing professionals

The Industry Syndicate creates exclusive community dedicated to career advancement
Business for those working in real estate and mortgage lending is changing, and those who want to learn how to thrive in this new climate need a place to learn and connect. That was the impetus behind the creation of the Industry Syndicate, a media network and community for professionals in the space who want to engage their peers and uncover fresh ideas on how to grow their businesses.
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Reverse mortgage securities market shrinks

Will lower HMBS float scare off investors?
Reverse mortgage volume has taken a nosedive in the past year, a fact that is glaringly evident by the product's performance in the secondary market. The latest from New View Advisors reveals that outstanding float of HECM-mortgage backed securities has fallen yet again. "At some point, declining float could affect HMBS liquidity and therefore pricing," said New View Partner Michael McCully.
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MBA: Mortgage applications push forward

Increase 13.5% from the previous week
Despite U.S. economic volatility, mortgage applications pushed forward for the week ending Jan. 11, 2019, according to the newest data from the Mortgage Bankers Association's weekly Mortgage Applications Survey.
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Analyst predicts weak year for HELOCs

Says rate hikes will make these loans more expensive
Many predict the Federal Reserve will raise interest rates in the year ahead, and this means HELOC borrowers can expect their loan payments to creep upward. Bankrate.com's Chief Financial Analyst Greg McBride predicts many HELOC borrowers will see their rates increase by 50 basis points this year.
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How employers can reassure potential LOs in the midst of mortgage layoffs

Invest in the right technology for LO retention
Under these circumstances, it can be an intimidating market for both job seekers and employers in the mortgage industry. So how do you reassure potential LOs when recruiting? Many professionals in the industry believe the key for recruiting loan officers is investing in technology that streamlines work to increase both efficiency and LO retention.
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Knock raises $400 million, plans massive expansion of home trade-in program

Direct buyer now operating in five markets
Around this time last year, Knock, a real estate startup that buys homes directly from homeowners, unveiled an expansion plan that would see the company grow its business beyond its first market of Atlanta. Since then, the company has indeed expanded and is now operating in five markets, but the company has much bigger plans than that. And now, the company has the money to reach those goals.
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Mr. Cooper laying off 109 mortgage employees in California

Latest rounds of cuts for mortgage industry
Over the last several months, layoffs have hit companies across the housing industry as the industry works to find solid footing in a shifting mortgage market. One company that’s been growing is Mr. Cooper Group, the nonbank formerly known as Nationstar Mortgage. But, layoffs are about to hit Mr. Cooper, too.
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