Alcynna Lloyd is a reporter at HousingWire. Lloyd has a degree in broadcast journalism from the University of North Texas. She previously interned with a broadcast position at CBS and has a background in freelance journalism.
This week, mortgage rates held at a two-year low after the U.S. government avoided a trade war with its neighbors to the south, according to the latest Freddie Mac Primary Mortgage Market Survey. Freddie Mac Chief Economist Sam Khater said easing trade tensions with Mexico have helped stabilize the nation's markets.
Mortgage borrowers who shopped around last week could’ve saved $42,137 over the life of a $300,000 loan, according to LendingTree's Mortgage Rate Competition Index. LendingTree indicates that the share of borrowers who received rates under 4.25% rose to 53.5%, with the index retreating 0.89 for the week ending June 9, 2019.
LoanCare, a ServiceLink company, recently appointed Michael Blair to the position of chief administration officer. Blair will now be responsible for overseeing the onboarding of new clients and servicing portfolios.
Despite growing economic tension, mortgage applications continued to climb, according to the Mortgage Bankers Association. MBA Vice President of Economic and Industry Forecasting Joel Kan said purchase and refinance applications surged, driven mainly by lower mortgage rates.
Although bidding wars are slowing as the housing market continues to cool, new data from Redfin suggests that San Francisco's housing market is heating back up. Redfin Chief Economist Daryl Fairweather said recent tech IPOs have reignited competition in the metro.
NRT, the largest residential real estate brokerage by sales volume, recently appointed Tim Foley to the position of executive vice president of operations. NRT President and CEO M. Ryan Gorman said under Foley’s leadership, NRT will be well-positioned to achieve operational excellence across all business segments.
Fintech startup LenderClose recently announced it expanded its team, welcoming three new software engineers to the company, including Matthew Brown, Phyllis Nelson and Jessica Wilson. LenderClose COO Ben Rempe said this team is directly responsible for making sure the company's rapid technology development is accompanied by the highest quality client care and attention.
Each week, HousingWire interviews financial services experts who can help make sense of the latest headlines, sponsored by our partners at Blend. This week, Mason-McDuffie Mortgage's Vice President of Development and Regional Manager Phil Treadwell explains how mortgage professionals can best navigate a low interest rate environment.
Waterstone Mortgage, a national mortgage lender, recently appointed Eric Debelack to the position of area manager of its Southeast Wisconsin region. Debelack, who has more than 30 years of experience in the financial industry, will now be responsible for growing Waterstone’s presence and origination volume.
Mortgage borrowers who shopped around last week could've saved $44,353 on the life of a $300,000 loan, according to LendingTree's Mortgage Rate Competition Index. The share of borrowers who received rates under 4.25% ticked up to 42.3%, with the index growing to 0.94 for the week ending June 2, 2019.
For anyone actively working in the mortgage industry, it’s no secret that reverse mortgages have taken a brutal hit in the last two years. The U.S. Department of Housing and Urban Development issued major program changes at the end of 2017 that effectively limited the amount of proceeds and the number of people who could qualify for the loan. The result had lenders across the space enduring sizable volume drops and subsequent gashes to their bottom lines.