United Wholesale Mortgage rolled out a new technology to give brokers easy access to refinance opportunities. The system, KEEP, sends pre-validated refinance opportunities once mortgage rates shift to meaningfully save borrowers money. UWM says its goal is to help wholesale lenders capture refi opportunities in a saturated market. “In a refi market, you can expect…
Residential mortgage loans spiked in the second quarter of 2024, returning to early 2023 levels and setting the stage for further improvement. New data from ATTOM shows that 1.62 million mortgages secured by residential property (1 to 4 units) were issued in the United States during Q2, representing a 23.2% jump from the first quarter….
Mortgage applications declined again last week as rates continued their upward march. The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index — a measure of mortgage loan application volume — fell by 2.3%, adding to last week’s 2.7% dip. Adjusted purchase applications slipped by 2%, while the unadjusted index was down…
The number of renters who believe they’ll never afford a home has skyrocketed in the last year as rates rose and stock shortages lifted home prices out of their late-2023 spiral. A recent Redfin survey found that close to 38% of renters believe they are unlikely to become homeowners, up from 27% at the same…
Mortgage brokers felt the burn in the last three months of 2023, with residential lending across the board stalling. A new report from ATTOM found that 1.35 million residential mortgages were originated in Q4 2023. That’s a 13.8% drop from Q3, and the tenth decline in the last eleven quarters. Residential lending activity overall was…
Katie Sweeney is stepping down as Chairman and CEO of the Association of Independent Mortgage Experts to helm the organization’s advocacy arm. Sweeney is the co-founder and CEO of the Broker Action Coalition, AIME’s legislative advocacy group. She helped establish it in 2022 and told HousingWire it has “taken off like crazy,” requiring more time…
The last two weeks of 2023 brought a slump in mortgage applications as buyers continue to grapple with affordability. The Mortgage Bankers Association’s weekly survey shows the adjusted Market Composite Index – a measure of mortgage loan application volume – fell 9.4% from the two weeks prior. The data includes adjustments for the holidays. Adjusted purchase…
Mortgage rates dipped below 7% for the first time since August after the Federal Reserve set the stage for rate cuts in the coming year. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.95%, down from the week prior’s 7.03%. A year ago at this time, the 30-year FRM averaged 6.31%….
POS provider Floify launched a one-stop lending platform for brokers, Floify Broker Edition. The platform is built on the foundation of the Floift POS platform and features rule-based automation to promote efficiency. It also provides a borrower-friendly interface that boosts application pull-through. Floify says brokers can use Broker Edition in place of a traditional loan…
Borrowers struggling with rampant unaffordability are seeing some relief as mortgage rates cool, ending an upward swing. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 7.76%, down from 7.79%. A year ago at this time, the 30-year FRM averaged 6.95%. The 15-year fixed rate remained unchanged at 7.03%. A year ago,…
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