Retail Lenders Overcharging Veterans For Mortgages?

Battle erupts over allegations that retail lenders are overcharging veterans for mortgages AIME’s Anthony Casa accuses Fairway, Quicken, others; Fairway fires back For approximately 18 months, the Department of Housing and Urban Development, Ginnie Mae, and the Department of Veterans Affairs have been looking into whether certain lenders are aggressively targeting service members and military veterans for quick and potentially […]

5 Key Themes Dictating The Direction Of Digital Mortgages

The mortgage industry aims at technology to streamline processes and tackle workflow inefficiencies, financial burdens and better borrower experiences.  Housing activity is down, costs to close are up, and lenders being forced to get creative hope digital advancements help combat these tough conditions, while also simplifying the process for consumers.  But going digital is no […]

Equifax And FICO To Partner

Equifax, FICO to partner to offer banks access to more consumer data Companies announce plans to package services to enhance consumer credit reporting Equifax and FICO credit score creator Fair Isaac are partnering to offer banks access to more consumer data. The companies started pitching each other’s services earlier this month and announced their partnership Wednesday, according to The Wall Street […]

Trump Calls For End To Fannie Mae, Freddie Mac Conservatorship

Trump officially calls for end to Fannie Mae, Freddie Mac conservatorship. White House issues release calling for “overdue reform of the housing finance system” President Donald Trump is officially calling for an end to the conservatorship of Fannie Mae and Freddie Mac, according to a White House release issued Wednesday. Trump is expected to sign a memorandum later today issuing “overdue reform […]

Mortgage Applications Increase

There was a huge rise in mortgage refinance application activity due to the large drop in interest rates following last week’s Federal Open Market Committee meeting. The Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the period ending March 22 reported an 8.9% increase in the overall index from one week earlier. “The spring buying season is […]

Home Prices: Smallest Annual Gain Since 2012

According to a Redfin report, home Prices in February recorded the smallest year-over-year gain since March 2012 at 0.6 percent and a median of $287,400. The prices fell more than 8percent  in San Francisco and San Jose. Newark, Milwaukee, and Buffalo saw prices rise more than 10 percent, the report found.  “When home prices are going up […]

Home Values Take a Drop

According to the February Zillow Real Estate Market Report, rent prices grew at their fastest rate in 10 months in February, reaching 2.4 percent year-over-year appreciation. However, while rent price growth increased, national home value appreciation sagged to its lowest level since December 2017.  The report found that the U.S. median monthly rent was $1,472 in February, […]

New-Home Mortgage Applications Rising

Mortgage applications for new-home purchases are on the rise, and their loan amounts are also getting larger, according to the Mortgage Bankers Association. New-home purchase applications grew 3% in February from a year ago and jumped 6% from the previous month. The average loan size for these new construction homes increased to $340,692 in February […]

Mortgage Rates Drop- Home Buying More Affordable

Mortgage rates declined across the board this week, which should make home buying more attractive although there are continuing concerns about inventory, according to Freddie Mac. The 30-year fixed-rate mortgage averaged 4.31% for the week ending March 14, down from last week when it averaged 4.41%. A year ago at this time, the 30-year fixed-rate mortgage averaged […]

Home Improvements…Helping or Hurting?

Homeowners are stepping up their renovation game this year, which could be good news for home improvement financing, but bad for the overall housing market. Homeowners planning to make home improvements in 2019 surged 26% from a year ago to 73%, according to a survey by SunTrust bank division LightStream, which was conducted by research company The […]