Items Tagged with 'Refinance'

ARTICLES

  • Thousands of mortgage lending jobs at risk as refis drop

    Refinances prepare for lowest level since 2000
    Thousands of lending jobs are now at risk as the number of refinances continue to fall, threatening to sink to their lowest level since 2000. One expert said overall mortgage originations could see a decrease of 15% to 20%, leading to a job loss of about 10% within the mortgage industry.
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  • Refinances regain popularity among Millennial buyers

    Refinances account for 15% of mortgages for third straight month
    Refinances became more popular among Millennials during the fourth quarter of 2017, according to the latest Ellie Mae Millennial Tracker report. The refinance share made up 15% of closed loans among Millennials in December, the highest percentage of refinances for this demographic since February.
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  • Wells Fargo: Ginnie Mae warning on VA loan churning is just the beginning

    Analysts expect oversight of VA refinances to intensify
    On Thursday, Ginnie Mae laid down the law, so to speak, in its fight against a segment of mortgage lenders that are aggressively targeting servicemembers and military veterans for quick and potentially risky refinances of their mortgages. But according to analysts from Wells Fargo, Ginnie Mae’s threat of booting lenders from its bond program will not be the agency's last move in its effort to clean up VA loan churning.
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  • Ginnie Mae threatens to boot lenders from bond program over VA loan churning

    Steps up fight against lenders targeting veterans for quick refinances
    Ginnie Mae is turning up the heat in its fight against a segment of mortgage lenders that are aggressively targeting servicemembers and military veterans for quick and potentially risky refinances of their mortgages. Ginnie Mae is now threatening a small number of lenders with expulsion from its primary mortgage bond program if the lenders do not address the issue.
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  • 2018 will see refis plummet as interest rates increase

    Rates expected to rise 90 basis points by end of year
    At the NEXT 2018 women’s mortgage tech conference in Dallas, Texas, CoreLogic predicted the direction of mortgage rates in the upcoming year, and the consequences it will bring. CoreLogic’s principal economist explained, “One thing we know that’s happening is mortgage rates are going to go up.” Here’s what that will mean for lending in the year to come.
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  • MBA: Mortgage apps continue increasing

    30-year rate hits highest level since March
    Mortgage applications increased 4.1% from last week, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey. And as apps continued to increase, mortgage rates continue to increase to their highest point in months or even years.
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  • Bipartisan group of senators seek more “predatory” lending protections for veterans

    Lenders would be required to show “material benefit” for VA refinances
    Over the last few months, Ginnie Mae and the Department of Veterans Affairs began looking into a segment of mortgage lenders that were aggressively targeting servicemembers and military veterans for quick and potentially risky refinances of their mortgages. But a bipartisan group of senators think both the VA and Ginnie Mae need more legal authority to stamp out the problem entirely.
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  • Down payment insurer ValueInsured now offering refi protection

    Protects equity if borrower needs to sell at a loss in the future
    ValueInsured, a company that provides down payment insurance for borrowers, is now also offering equity protection for borrowers who want to refinance their mortgage. Through the +Plus Equity Protection program, borrowers pay a premium in exchange for ValueInsured agreeing to reimburse up to the full amount of their equity under certain conditions.
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