Items Tagged with 'mortgages'


  • MBA lowers rate forecast and boosts lending outlook

    Mortgage Bankers group predicts mortgage originations will gain 15% from last year
    Mortgage Bankers Association issued a new forecast that predicts the U.S. rate for a 30-year fixed mortgage will average 3.7% in the third and fourth quarters of 2019, down from the 3.9% the group predicted for the same periods a month ago. Lower mortgage rates will boost loan originations 15% compared to last year, according to the forecast issued on Friday.
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  • Digital mortgage company closes $160 million in funding

    Plans to accelerate investment in product development and hire 400 people by year end, one of the fastest-growing digital mortgage companies, said Monday it closed on $160 million of Series C funding, with backers including Ally Financial, Citi, and American Express. “Similar to how Amazon upended the retail industry, is digitally disrupting the $15 trillion mortgage industry,” said Vishal Garg, CEO and founder.
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  • Mortgage rollercoaster: Originations rise to nearly 2-year high after falling to 4-year low

    New York Fed data shows originations bounced back big time in second quarter
    Things looked bleak for the mortgage business earlier this year, as data from the New York Fed showed that the first quarter of this year was the mortgage business’ worst quarter in four years, but maybe it’s not complete doom and gloom after all. In fact, new data from the New York Fed shows that the mortgage business rebounded big time in the second quarter, with originations rising to their highest level since the third quarter of 2017.
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  • Mortgage delinquencies spike 11% in June, but blame the calendar

    Months that follow those pesky Sunday-ends usually see improvements, Black Knight said.
    Mortgage delinquencies rose to 3.73% in June from the prior month’s record low, according to Black Knight. The 11% spike was the biggest gain in almost a decade, but it’s nothing to worry about. It’s “calendar-related,” Black Knight said.
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  • Freddie Mac reports $1.5 billion of net income in Q2, down from $2.5 billion a year ago

    The GSE expects to pay $1.8 billion to Treasury in dividend "sweep"
    Freddie Mac reported net income of $1.5 billion in the second quarter, down from $2.5 billion in the year-ago quarter. The government-sponsored enterprise said it expects to submit $1.8 billion to the U.S. Treasury by September, a payment known as a “profit sweep,” bringing its total payments to $119.7 billion, exceeding its original draw by about $48.1 billion.
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  • Former Freddie Mac CEO says GSEs should be regulated like utilities

    Layton says Fannie and Freddie were "lazy competitors" before government seizure
    Two weeks into his new gig as a senior fellow at Harvard University’s Joint Center for Housing Studies, Donald Layton, who was the CEO of Freddie Mac until the end of June, is speaking out – in favor of utility-style regulation of the GSEs. He also states the mortgage giants were “lazy competitors” before the 2008 government seizure.
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  • Fannie Mae, Freddie Mac are building non-LIBOR adjustable-rate mortgages

    GSE officials pledge to roll out new product by 2021's LIBOR expiration
    Seven years after traders were caught boasting in emails and instant messages about cracking open bottles of champagne to celebrate their ability to manipulate the London Interbank Offer Rate, or LIBOR, the Federal Reserve issued a report with the framework for issuing new ARM mortgages based on a U.S. index. Now, Fannie Mae and Freddie Mac are preparing for non-LIBOR ARMs.
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  • Housing supply and buyer demand mismatch is pushing buyers out of the market

    Expert warns of a market shift that could impact homebuyers well into next year
    In June, the average American home listing price hit a high of $316,000, according to’s Housing Trend Report, reaching its annual peak earlier than expected thanks to a mismatch of available inventory and buyer demand. This discrepancy has led the company to warn of an impending market shift that could affect homebuyers well into next year.
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