Items Tagged with 'Mortgage'

ARTICLES

  • NAR: Cheap mortgage rates are improving home affordability

    Affordability jumped 10% in June from a year earlier as financing costs fell
    The cheapest financing in almost three years is making it easier for Americans to buy homes. The Housing Affordability Index from the National Association of Realtors increased to 151.9 in June from 137.7 a year earlier in June. That’s a jump of 10%. A higher reading means homes are getting more affordable, per NAR’s magic sauce that measures prices, incomes and financing costs.
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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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  • Fannie Mae, Freddie Mac delaying use of new Uniform Residential Loan Application

    FHFA asked GSEs to make changes to form
    Nearly three years ago, Fannie Mae and Freddie Mac announced that they were changing the standard mortgage application form for the first time in 20 years. As the development process moved forward, the GSEs dictated that lenders would be required to begin using the new loan application by Feb. 1, 2020. But that’s not the case anymore. Fannie and Freddie announced Thursday that they are delaying the mandatory use of the redesigned Uniform Residential Loan Application to an unspecified date in the future.
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  • Fannie Mae: One-third of homebuyers didn’t shop around for a mortgage

    Borrowers are “leaving money on the table,” Fannie’s Duncan says
    More than a third of 2018 homebuyers say they did not shop around before selecting their mortgage lender, according to Doug Duncan, chief economist of Fannie Mae. “By not shopping around to give themselves leverage when negotiating their mortgage, some homebuyers are leaving money on the table,” Duncan said.
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  • Quarter of U.S. homeowners wish they were renting instead

    Many say the financial responsibility of homeownership is stressful
    Although owning a home has its benefits, a recent survey shows that homeowners have many regrets when it comes to the purchase of a new home, mostly because they are largely unprepared for the initial cost and the ongoing financial responsibility that comes with homeownership. Of those surveyed, 26% said the cost of owning a home is a burden and they wished they were renting instead.
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  • Redfin: More homebuyers straying away from coastal cities

    The top searched destination is Phoenix
    Homeowners continue to flee pricey cities for more affordable metros, with Phoenix, Sacramento, Atlanta and Las Vegas among the destinations that are searched the most online, according to data from Redfin, which also revealed which cities users want to leave.
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  • CoreLogic: Mortgage fraud risk falls sharply in Q2

    But 3 of the 10 most at-risk metros saw an uptick in fraud
    The risk of mortgage application fraud fell in the second quarter of 2019 thanks to a decrease in interest rates. According to CoreLogic’s National Mortgage Application Fraud Risk Index, fraud risks on mortgage applications decreased by 11.4% year over year last quarter.
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  • New American Funding planning to hire nearly 1,000 new employees by end of 2019

    Mortgage company has branches in 41 states
    For the second time in as many months, a major national lender is moving to hire as many as 1,000 new employees as the gap between the haves and have-nots in mortgage lending appears to be growing. Last month, it was loanDepot that announced it plans to hire more than 1,300 new loan officers to its team by the end of the year. Now, it's New American Funding's turn.
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  • New Capital Partners announces investment in ARMCO

    Mortgage quality control group partnering with enterprise transaction risk management solutions company
    New Capital Partners announced this week that it is investing in Florida-based ACES Risk Management Corporation, a web-based quality assurance software for the financial services industry.
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