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Non-QM Lenders are Racing to Stay Ahead of Rates

2022-08-11T07:59:20-07:00Private Money Lending|

At the end of June, First Guaranty Mortgage Corp. (FGMC), a non-QM lender, filed for Chapter 11 bankruptcy, leaving four warehouse lenders liable for more than $415 million. Early in July, Sprout Mortgage collapsed, abandoning its staff in the cold. Due to the lender's [...]

The Hybrid Appraisal is Here. Who Benefits?

2022-08-11T07:59:10-07:00Private Money Lending|

Desktop appraisals may minimize some mileage and undoubtedly open doors for a select group of private sector businesses. However, it is still unclear whether they are better than traditional appraisals and whether they will ultimately lessen racial bias, a key GSE policy objective. Starting [...]

Qualia Releases Qualia Connect for Mortgage Lenders

2022-08-11T07:59:00-07:00Private Money Lending|

The launch of a new mortgage lender version of its Qualia Connect platform was announced by the digital real estate closing platform Qualia on Tuesday, July 12, 2022. The Connect platform will now be able to integrate directly into the loan origination system of [...]

HUD Affordability Plan Doesn’t Include Lowering FHA Premiums

2022-08-11T07:58:48-07:00Private Money Lending|

The Federal Housing Administration (FHA) is addressing the affordability challenge by increasing supply, but it hasn't yet started to reduce the costs it charges borrowers. At a news conference on July 14, senior officials from the Department of Housing and Urban Development, which houses [...]

With Home Sales Down, Why Are Home Prices Still Up?

2022-08-11T07:58:38-07:00Private Money Lending|

One concern associated with the housing market for 2020–2024 was that if inventory channels broke to all-time lows, home prices could increase more quickly during this time than they did during the preceding expansion. Logan Mohtashami, a housing data analyst, discussed the importance of [...]

What Originators May Not Know About Non-QM Lending

2022-08-11T07:58:27-07:00Private Money Lending|

Non-QM product options are becoming more popular as lenders try to change their strategy in the face of almost no refinancing activity. In light of this, the Executive Vice President of Production at Angel Oak Mortgage Solutions, Tom Hutchens, stated during a recent discussion [...]

Will Mortgage Lending Get Tighter in the Next Recession?

2022-08-11T07:58:18-07:00Private Money Lending|

Some people are anxious that mortgage credit lending will become stricter as recession talk gets more common. This generally occurs during a recession, but since there hasn't been a credit boom from 2008 to 2022, the idea that credit lending in America will collapse [...]

FHFA Language Requirements May Shakeup Compliance Landscape

2022-08-11T07:58:07-07:00Private Money Lending|

For mortgage loans to be eligible for sale to Freddie Mac or Fannie Mae, the Federal Housing Finance Agency (FHFA) recently announced that mortgage lenders will need to include in loan packets the Supplemental Consumer Information Form (SCIF), which registers a borrower's language preference. [...]

How New Solutions are Reinventing Secondary Market Access for Local Lenders

2022-08-11T07:57:54-07:00Private Money Lending|

The secondary market offers a fantastic chance to pursue higher margins, more competitive pricing, and enhanced profitability in today's competitive environment. However, this area also poses difficulties for America's small-scale lenders. Despite the crucial role that small and midsize lenders play in the $4 [...]

The Savage Unhealthy Housing Market is a Nightmare

2022-08-11T07:57:42-07:00Private Money Lending|

The housing disaster keeps happening. The number of existing-home sales for April was 5.41 million, according to the National Association of Realtors (NAR), which decreased 8.6% from last year and 3.4% from the previous month. However, the savagely unhealthy data point showed that housing [...]

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