Frisco, Texas: From Tiny Farm Town to Fastest-Growing City

The City of Frisco has experienced a major population boom in the past few decades and has earned the title of fastest-growing city several times by the U.S. Census Bureau. However, the town that is now the corporate headquarters of the Dallas Cowboys had humble beginnings and can attribute its start to farmers and a […]

To Heal the Housing Market

While the COVID-19 pandemic continues to create financial uncertainty for all Americans, it’s not too early to ask how mortgage lenders can help put the nation’s economy back on track. After all, the real estate industry comprises the largest sector of the U.S. economy. The post-pandemic market already has one thing going for it: millennials. […]

Startup Knock Gets Out of Real Estate Brokerage Business, Shifts into Lending

Startup Knock announced Thursday it is getting out of the real estate brokerage business and becoming a lender. This morning, the company unveiled a major shift in strategy with its new Home Swap program, under which Knock serves as the lender to help a homeowner buy a new home before selling their old house. It previously worked […]

It’s Official: The U.S. Won’t See a Housing Bubble Crash Anytime Soon

Ernest Rutherford, the father of nuclear physics is attributed to saying, “All science is either physics or stamp collecting.”  To paraphrase Rutherford for economics models, if models don’t include demographics and productivity, they might as well be stamp collecting. As it turns out, we have a lot of philatelists in housing economics – I call […]

Mortgage Applications Increase in Latest MBA Weekly Survey

Where does it end? Mortgage applications continue their upward path with the latest Mortgage Bankers Association weekly survey showing a 5.1% hike.  The Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending July 10, 2020 showed the Market Composite Index, a measure of mortgage loan application volume, increased 5.1% on a seasonally […]

Young Adults Are More Likely to Have Moved Because of COVID-19

Nearly a quarter of Americans said they moved or know someone who moved due to COVID-19. According to a survey from Pew Research Center, 3% of respondents said they moved permanently because of the pandemic, 6% said someone moved into their household for the same reason and 14% who did not personally relocate said they know someone else who did. It […]

Wells Fargo Loosens Jumbo Lending Requirements for Current Customers

Wells Fargo announced updates to its non-conforming refinance products at the beginning of July. While the updates loosen the jumbo requirements for current customers, the new standard for customers without a Wells Fargo relationship increased four times the amount it originally announced back in April.  According to a spokesperson for Wells Fargo, as of July […]

Lenders Are Slowly Starting to Offer Jumbo Mortgages Again

Lenders are slowly and selectively starting to underwrite jumbo mortgages again after all but abandoning the market as the pandemic got underway. Since February 2020, jumbo mortgage originations have plunged 57 percent, according to data from the Mortgage Bankers Association (MBA). The once-robust market for jumbo loans, and some other types of loans, collapsed at the onset […]