6 Key Indicators for Mortgage Lenders Assessments as Market Challenges Persist

2022-11-11T14:59:49-08:00Private Money Lending|

To suggest that these are challenging times for mortgage lenders would be a significant understatement. The federal funds rate, which has an upper and lower limit, is now between 3% and 3.25%. The most recent instance of the rate hitting 3.25% was in 2005. [...]

Freddie Mac to Include Bank Account Data as Part of Underwriting

2022-11-11T15:00:21-08:00Private Money Lending|

According to a press release shared with Housing Wire, Freddie Mac said on October 17 that it will examine bank account data for borrowers to determine a history of positive monthly cash-flow activity as part of its loan purchase eligibility analyses. According to the [...]

Appeal Court Rules CFPB Funding Source Unconstitutional

2022-11-11T14:57:19-08:00Private Money Lending|

A three-judge panel of the Fifth Circuit U.S. Court of Appeals decided this week that the Consumer Financial Protection Bureau's (CFPB) financing source is unconstitutional. According to a Politico report on the ruling, the panel determined that the CFPB's structure was unconstitutional because it [...]

5 Common Pitfalls in Managing a Fund as a Private Lender

2022-11-11T15:00:40-08:00Private Money Lending|

Funds are a significant aspect of the business strategy in the private lending market. However, funds do have additional elements to be cautious about and consider. Here are three significant mistakes funds and fund managers run into and ways to avoid them. Poor Panic [...]

Home Sales are Going to Nosedive in 2023-Fannie Mae

2022-11-07T16:47:27-08:00Private Money Lending|

The housing market prognosis for 2023 is getting worse by the month, with the most recent research expecting a million-plus drop in existing house sales. Fannie Mae's Economic and Strategic Research (ESR) Group now estimates overall single-family home sales will fall by 18.1% to [...]

How to Get to Homebuyers First in Today’s Ultra-competitive Market

2022-11-07T16:46:53-08:00Private Money Lending|

In a recent discussion by H.W. Media Editor-In-Chief with Ty Tucker, CoreLogic Executive, Loan Solutions group on the significance of lead prospecting in the current housing market as rates keep rising, housing inventory keeps going down and lenders looking to get every borrower they [...]

MBA’s Broeksmit Takes Aim at CFPB

2022-11-07T16:46:24-08:00Private Money Lending|

According to Mortgage Bankers Association (MBA) president and CEO Bob Broeksmit, America is in complete damage control mode as the Federal Reserve works to contain inflation, thus inflicting pain on the mortgage industry. Unfortunately, in times like this, bad policies have the propensity to [...]

FHFA to Replace Classic FICO With a More Inclusive Credit Model

2022-11-07T16:45:20-08:00Private Money Lending|

The Federal Housing Finance Agency, on Monday, the 24th of October, announced its plans to replace the classic FICO credit model with the FICO 10T and VantageScore 4.0. Fannie Mae and Freddie Mac have used the Classic FICO credit model for about 20 years [...]

Mortgage Demand Plunges as Costs Reach New Heights

2022-11-07T16:43:12-08:00Private Money Lending|

According to the Mortgage Bankers Association's most recent poll, mortgage demand is still declining despite rising mortgage interest rates (MBA). According to the survey, the mortgage composite index for the week ending October 7 decreased 68.7% from the same time in 2021 and 2% [...]

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