Items Tagged with 'mortgage lenders'

ARTICLES

  • Bank 34 abandoning mortgage lending

    Plans to shutter nine loan productions offices
    It’s getting harder and harder for smaller lenders to make money in the mortgage business. And those tough economic conditions are driving lenders out of the mortgage business altogether. Earlier this week, it was Live Well Financial that announced it was terminating its mortgage origination business. Now, for the second time in less than a week, another lender is abandoning their mortgage business as well.
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  • Mortgage lender optimism grows as borrower demand heightens

    Although lender outlook fell 8% in Q1, it's a significant improvement from the previous quarter
    In the first quarter of 2019, Fannie Mae's Mortgage Lender Sentiment Survey revealed the net profit margin outlook for mortgage lenders retreated 8% from the previous quarter. Fannie Mae Senior Vice President and Chief Economist Doug Duncan said lenders appear less pessimistic regarding mortgage demand expectations; thus their profit margin outlook over the next three months is also slightly improved.
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  • NYT: Risky mortgages are making a comeback

    Warns borrowers to beware of these "complicated" loans
    With the housing market slowing down and interest rates rising, mortgage lenders are feeling the pinch. To boost profits, some have turned to non-QM loans, according to a recent article in The New York Times. These loans do work for some homebuyers, the author says, but he warns that "even qualified borrowers need to be aware of the loans’ risks."
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  • Brokers prepare to shake up mortgage lending

    Here's why
    Times are tough for mortgage lenders, as evidenced by the multiple layoffs seen across the mortgage industry. But one type of lender is doing fine, even excelling, as others continue to eliminate hundreds of mortgage jobs – mortgage brokers. Here's why.
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  • House Committee Votes to End Foreclosure Programs

    The Financial Services Committee of the U.S. House of Representatives has taken aim at mortgage aid programs that have been widely considered ineffective.  According to Committee Chairman Spencer Bachus, "We should not waste taxpayer dollars on failed government programs that do not work and actually make things worse for struggling homeowners. These programs may have been well-intentioned, but they’re doing more harm than good." One program, due to be launched next month, the "Emergency Homeowners Relief Program, is set to provide $1 billion to provide loans to unemployed borrowers to allow them to make mortgage payments for a period
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