American home shoppers have plenty to fear this Halloween as the housing crunch continues. But where buyers live plays a role in how stressful their experience is. Though markets are tough across the nation, California is home to the scariest housing markets in the U.S., according to a new analysis by Point2. Of the 200…
Mortgage rates hit their highest level in more than 20 years last week, breaking 7% on average and adding extra weight to Americans’ heavy housing burden. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 7.09%, up from 6.96%. A year ago at this time, the 30-year FRM averaged 5.13%. The 15-year…
The CEO of a national end-to-end risk mitigation company says their platform opens doors to lenders that want to enter the construction market. Leaders at CFSI Loan Management in Colorado say that at most lending institutions, construction loans make up less than 10% of originations due to the challenges and complexities of managing these transactions….
By KIMBERLEY HAAS The CEO of Aidium Mortgage CRM says companies are investing in technology designed to streamline the mortgage loan origination process to improve efficiency and profitability. “They’re understanding that they could have made more money in 2020 and 2021 with better systems and I think that they’re also seeing right now they need…
Despite challenging conditions for first-time homebuyers, Millennials are actively engaging in the housing market, especially in the nation’s largest metros, according to a new analysis from LendingTree. The analysis found that Millennials– people aged 25 to 40 in 2021– make up a majority of homebuyers in most of the US’s largest metros, especially Denver, Seattle,…
The total number of loans in forbearance fell from 1.67% of servicers’ portfolio volume to 1.41% in December 2021, according to the Mortgage Bankers Association’s (MBA) Loan Monitoring Survey. The pace of monthly forbearance exits is at its lowest point since MBA began tracking exits in June 2020. MBA estimates 705,000 homeowners are currently in…
The total number of loans in forbearance fell from 2.06% of servicers’ portfolio volume to 1.67% in November, according to the Mortgage Bankers Association’s (MBA) Loan Monitoring Survey. MBA estimates 835,000 homeowners are currently in forbearance plans. Independent mortgage banks saw a 0.34% decline from 2.28% to 1.94%, while depositories saw a 0.5% drop from…
By KIMBERLEY HAAS As people throughout the country wish for a white Christmas this upcoming weekend, it is expected that home sales will stay warm in many parts of the nation throughout the winter. Continued bidding wars, the Great Resignation, and Millennials on the market will all likely contribute to keeping home prices high during…
By KIMBERLEY HAAS As the COVID-19 pandemic continues and workers reevaluate their commitment to metropolitan life, lenders in smaller cities stand to benefit from what is being termed the “Great Resignation.” It is estimated that about 4.4 million Americans quit their jobs in September after months of dramatic departure numbers, which means those employees are…
The national delinquency rate continued to improve at a slow but steady pace last month, with especially impactful declines for loans overdue by 30 days or more, according to Black Knight’s October 2021 “first look” report. Delinquencies dropped another 4.25% at the end of October to 3.74%. The decline was pushed by significant changes in…
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