Jacob Gaffney

Jacob Gaffney

Jacob Gaffney is the Editor-in-Chief of HousingWire and HousingWire.com. He previously covered securitization for Reuters and Source Media in London before returning to the United States in 2009. While in Europe for nearly a decade, he covered bank loans and the high yield market, in addition to commercial paper, student loan, auto and credit card space(s). At HousingWire, he began focusing his journalism on all aspects of the housing and mortgage markets.

ARTICLES

  • LendingTree: These are the mortgage loan terms currently being offered to borrowers

    Latest mortgage trends as reported by lenders
    Lenders report, for the average borrower, purchase APRs for conforming 30-year fixed loans offered on LendingTree’s platform were up 10 bps to 5.02%. The loan note rate of 4.91% was also up 10 bps. Consumers with the highest credit scores (760+) saw offered APRs of 4.89% in March vs. 5.17% for consumers with scores of 680 to 719. And, more.
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  • From HW Magazine

    The rise of the robots

    Has your job already been terminated?
    Artificial Intelligence relies on increased data volumes, advanced algorithms, and improvements in computing power and storage, according to computer analytics firm SAS; all of which is available today. AI requires no human intervention and can make decisions on its own. This ability to move from strength to strength is defined by the Harvard Business Review as Machine Learning (ML).
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  • Bloomberg report sounds warning on pending mortgage lending crisis

    Critical language aside, they may have a point
    The language may be infuriating for a loan officer to read: referring to mortgage lenders as "small-time bankers" who are "peddling to the poor." But Prashant Gopal’s Bloomberg report states that even the Federal Housing Administration is concerned about rising defaults in its mortgage insurance program.
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  • Monday Morning Cup of Coffee: Inside the housing economy's monster news weekend

    Your MBA / Fed / Fannie / Freddie / Kilauea / California housing update!
    The MBA Secondary mood is so.... Plus, Texas jobs are booming, with no end in sight. New York and San Francisco startups promise to find people to co-live with each other. Plus, Fannie and Freddie risk-sharing bond performance updated. And, this person claims to have single-handedly caused the housing crisis in California. Plus, even more.
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  • Q&A: LoanScoreCard’s Ben Wu on the rise of non-QM lending

    Lending outside of the qualified mortgage box
    In a Q&A with HousingWire, Ben Wu, executive director of LoanScorecard, discusses the recent surge in non-agency/non-QM mortgage lending, the challenges in that market and how technology can be utilized to help lenders with these challenges. As Wu points out, “With more than 20 million sole proprietors in the U.S., there is pent-up demand for mortgage product that can accept income documentation other than the 'Appendix Q' requirement of QM loans.”
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