Ginnie Mae Moving Closer to Accepting eNotes

The rise of the fully digital mortgage is about to take a big step forward, as Ginnie Mae, the government agency that issues mortgage bonds backed by Federal Housing Administration or Department of Veterans Affairs loans, is moving closer to accepting and utilizing eNotes (electronic promissory notes). In recent years, numerous lenders have digitized the front-end of the mortgage process, but there were still serious hurdles […]

7 Things to Look for at MBA Annual 2019

The Mortgage Bankers Association’s annual convention returns to the Lone Star State in 2019, but for the first time, the Texas capital city of Austin plays host. Austin might be most famous as the host of the South by Southwest conference and festivals, but MBA Annual 2019 will bring its show to this budding tech […]

SoCal Home Buying Jumps

The biggest drop in mortgage rates in history has Southern California house hunters making an autumnal rush to buy, with freshly opened escrows up 14% in a year. A year ago, home buying suffered as the 30-year fixed-rate loan averaged 4.9% — an eight-year high, by Freddie Mac’s count. Last Thursday, rates fell to 3.57%, a […]

Mortgage Rates Jump

Strong economic trends like an improved employment outlook and rising homebuilder sentiment helped to drive average mortgage rates up 12 basis points from a week ago, according to Freddie Mac. “Despite this week’s uptick in mortgage rates, the housing market remains on the upswing with improvement in construction and home sales,” Sam Khater, Freddie Mac’s […]

Mortgage Applications Increase

Mortgage applications increased 0.5% from one week earlier, although interest rate instability affected consumers’ ability to get the best price for their loan, according to the Mortgage Bankers Association. “The ongoing interest rate volatility is impacting a borrower’s ability to lock in the lowest rate possible,” Joel Kan, the MBA’s associate vice president of economic […]

Average Rent Prices Decline

America’s rental prices declined in September, as RentCafé indicates the nation’s average rent fell by $1 – the first decrease since 2017. Although September’s month-over-month decrease may seem insignificant, RentCafé says that it points to a slight wind-down in rent prices in the context of a more volatile financial climate. According to the company’s Apartment Market Report, the […]

August Home Sales Low

Last month, the California Association of Realtors predicted a slow down for the state’s housing market in 2020.  According to a recent report by CoreLogic, cooling home sales are already here. In fact, August marked the fewest home sales for that month in four years. “California home sales edged moderately lower in August, marking the twelfth month out of […]

California Rent Control

During a ceremony Tuesday at a senior citizen center in Oakland, California, Gov. Gavin Newsom signed a statewide law that controls how much landlords can charge for rent. Starting in 2020, the law caps annual rent increases to 5% plus inflation. The governor called Assembly Bill 1482 the “nation’s strongest statewide renter protections.” With Newsom’s signature, California […]