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.

Politics & Money

UK Gross Lending on the Rise: Bank of England

Gross lending for house purchases is slowly recovering in the United Kingdom due in part to rising mortgage approvals, but refinance activity remains subdued, leaving the overall mortgage lending volume at early 1990s-levels throughout June and July, according to Bank of England research. The news comes as a Morgan Stanley (MS) financial adviser survey showed investors are returning to the structured product market, including mortgage-backed securities. New mortgage origination volume was about £5bn ($8.25bn), more than half of total mortgage business in the month, according to Bank of England research. Gross lending has spurred overall mortgage volume to consistently increase since reaching a 17-month low in May, but refinancing volume has remained stable during that period. While on an upswing, the July volume is still lower than it’s March through January 2008 level. “UK lenders reported an improvement in their ability to convert mortgage applications into mortgage completions, consistent with housing market chains becoming less fragile,” Bank of England said in the report. “Demand for remortgaging [refinancing] remains very weak, though some major UK lenders reported tentative signs of their existing borrowers seeking to move off standard-variable-rate mortgages on to fixed-rate products.” As new mortgage business increases, 76% of financial advisors that participated in a Morgan Stanley survey rank structured products as their preferred investment type they recommend to clients. It’s a 21% increase in adviser sentiment from a December 2008 survey, when structured products ranks third behind bonds and mutual funds. The survey also reported 45% of advisers are more inclined to recommend structured products in the past six months, compared to 40% in December 2008, indicating the demand for structured products is expected to remain strong, Morgan Stanley said in a release. “The survey results indicate a much bigger appetite than we expected among financial advisers for structured products and are also extremely encouraging news for providers. Based on the demand for products with a good balance of capital protection and participation, backed by issuers with a good credit rating, Morgan Stanley will continue to offer a range of carefully-designed products to meet these requirements,” Morgan Stanley executive director Marc Chamberlain said in a statement. Write to Austin Kilgore.

Most Popular Articles

Are we back to a normal housing market?

Favorable demographics should keep the housing market ticking. But watch for home prices escalating out of control and rates moving up sharply, writes columnist Logan Mohtashami. HW+ Premium Content

Jul 26, 2021 By
3d rendering of a row of luxury townhouses along a street

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