For the week ending February 11, mortgage applications fell 5.4%, showing what the mortgage market looks like when rates hit 4% for the first time since 2019. The seasonally adjusted refi index from the Mortgage Bankers Association decreased 8.9% from the previous week, reducing [...]
For the week ending February 17, the average 30-year fixed-rate mortgage rose 23 basis points to 3.92%, up from 3.91% the previous week. According to the most recent Freddie Mac PMMS Mortgage Survey, this is the highest level of mortgage rate since May 2019, [...]
Non-QM loan originations have been projected to hit between $80 billion and $100 billion in 2022, which means there is a hugely untapped market for private lenders in the non-QM loan sector of the lending industry. In an interview with Mike Fierman, the Managing [...]
According to the latest Freddie Mac PMMS Mortgage Survey, the average 30-year-fixed rate mortgage fell one basis point from the previous week to 3.55% for the week ending January 27th, 2022. However, it is essential to note that the 30-year fixed-rate mortgage averaged 2.77% [...]
As a new fiscal year starts in the lending industry, with the many stakeholders still finding their foot around the post-pandemic events, several mortgage lenders are being cautious of a potential wave of bankruptcy filings on the horizon. However, recent events within the industry, [...]
According to the Mortgage Bankers Association (MBA) poll for the week ending Jan. 14, mortgage applications jumped 2.3% from the previous week, majorly due to a robust purchase market. The seasonally adjusted Purchase Index increased 7.9% from the past week, while the Refinance Index [...]
For the first time in 18 months, servicers' forbearance asset volume fell below 1.5% in December 2021. According to the Mortgage Bankers Association (MBA), the overall number of loans under forbearance declined by 26 basis points in December, to 1.41% from 1.67% in November. [...]
According to CoreLogic's recent Loan Performance Report, mortgage delinquency rates reached pre-pandemic levels in October due to labor market developments and home equity growth. During the year 2022, rates are expected to continue to fall. In October 2019, 3.8% of mortgages were 30 days [...]
On January 5, 2022, the Federal Housing Finance Agency implemented additional upfront fees for some high-balance and second-home loans sold to Fannie Mae and Freddie Mac. Fees for high-balance loans will rise by 0.25% to 0.75%, depending on the loan-to-value ratio. The upfront fees [...]
As the Consumer Financial Protection Bureau (CFPB) is preparing to begin drafting regulations to implement section 1071 of the Dodd-Frank Act, lenders look forward to a new regulatory chapter in the industry, resulting in significant new reporting requirements fair lending examinations and potential enforcement [...]
