Joe McNally Team Achieves Top-30 Ranking Among Small Teams in RealTrends
Michigan firm achieves No. 28 national ranking for small teams in transaction sides according to RealTrends Verified, showcasing impressive performance in the market.
MBA White Paper Advocates for a Unified AI Framework in Mortgage Lending
The Mortgage Bankers Association calls for a cohesive AI management framework as lenders enhance origination, servicing, and customer engagement with technology.
NRMLA Aims to Reduce HECM Insurance Premiums and Minimize Second Appraisals
Private lenders received vital insights on regulatory and legislative updates from leaders at the National Reverse Mortgage Lenders Association during a recent meeting.
Baltimore City Council Moves Forward with Property Tax Relief Legislation
Baltimore City Council's new measure reduces property tax by 1 cent per $100 assessed value, impacting investment strategies for private lenders.
Robust Job Market and Inflation Pressures Sustain High Mortgage Rates
Conforming loan rates hold at 6.78%, while FHA loans are at 6.33%. Strong jobs data and persistent inflation contribute to elevated bond yields and stable rates.
Senate Democrats propose legislation for automatic CFPB funding.
Senate Democrats propose a bill for automatic CFPB funding through Fed transfers, seeking to stabilize the agency's budget and reduce future financial risks.
Mortgage Credit Availability Increases Slightly in May
Mortgage credit availability increased by 0.1% in May, driven by slight loosenings in jumbo programs, while government and conforming credit remained stable.
ICE Mortgage Monitor: Home Equity Lending Rises Due to Lock-in Effect
In Q1, equity withdrawals reached $47B, with second liens at $25B. Refinance-incentivized buyers dropped to 1.8 million in May, signaling market shifts.
California Settles with Select Portfolio Servicing for $4.6 Million
SPS agrees to pay $1.6 million in civil penalties and $3 million in restitution for borrowers affected by its practices, pending court approval.
Gabe Bodner Discusses Marketing Reverse Mortgages to Affluent Borrowers
Top-producing originators like Gabe Bodner are shifting perspectives on reverse mortgages, presenting them as strategic wealth management tools for affluent retirees.