A federal advisory group on affordable, equitable, and sustainable housing will be established, according to plans unveiled by the Federal Housing Finance Agency (FHFA) on Tuesday, the 23rd of August. The committee will provide recommendations and input on the need for affordable, equitable, and [...]
On the 18th of August 2022, the National Association of Realtors noted the downward trend in existing home sales that have been evident since the increase in mortgage rates is deteriorating. The data line's worst feature is not that, though. The startling statistic (for [...]
Private Lenders are mostly familiar with the Patriot Act, which was implemented after 9/11. However, this act has been amended by the US government over the years. As such, lenders might be unaware that the Anti Money Laundering Act is overlaid on the Traditional [...]
The decline in new listings, which has slowed the growth rate of total inventory in recent weeks, has been one of the most significant stories in the housing market. Given that the data has been negative for several weeks, we can notice a decline [...]
A revived market for Home Equity Lines Of Credit (HELOCs) is fuelled by quickly growing property values and the fact that roughly two-thirds of borrowers with at least some home equity have mortgage rates below 4% and would not profit from refinancing. Through a [...]
To support sustainability and equity, the Federal Housing Finance Agency (FHFA) has announced that Servicers of federally backed loans will acquire and retain fair lending data. Servicers must begin keeping records of borrowers' age, color, ethnicity, gender, and preferred language by March 1, 2023. [...]
The private lending business keeps on booming and getting more profitable across sectors. For example, private lenders who issue mortgage loans for commercial purposes are now getting numerous state licenses to lend in several states across the US, not only confining their operations to [...]
Lenders and borrowers gain from time savings and fewer glitches as the mortgage application process moves more and more online. Time, mistakes, and paper were saved by digital solutions that let customers input their assets, bank accounts, or revenue straight from the source. What [...]
Due to the recent turmoil experienced by non-QM lenders, lenders in this market must remember that picking the correct non-QM product is the key to success with non-QM. The fundamental truth is that non-QM borrowers like self-employed individuals and real estate investors will always [...]
According to the Mortgage Bankers Association, demand for mortgage loans soared last week as a gloomy economic outlook resulted in a drop in rates (MBA). As a result, for the week ending July 29, the market composite index, which tracks the amount of mortgage [...]
