By KIMBERLEY HAAS Eligible homeowners in New Jersey can receive up to $35,000 to help protect themselves against foreclosures. Officials at the New Jersey Housing and Mortgage Finance Agency have opened an application portal for the Emergency Rescue Mortgage Assistance program. The money, which comes in the form of a three-year forgivable loan with no interest or payments due, can be used for the following: -Mortgage reinstatement -Escrow shortages -Delinquent property taxes -Municipal or property tax liens -Mortgage payments, including principal, interest, taxes, and homeowner’s insurance To qualify for assistance, a homeowner must: -Own and occupy an eligible one- to four-unit primary residence -Have been current on mortgage and property taxes as of January 2020 -Have experienced a COVID-19 related…
By KIMBERLEY HAAS United Wholesale Mortgage turned heads in the industry last week when it was reported that health officials are investigating the company after receiving complaints about how they are handling COVID, which lead some people to ask why employees in lending are expected to be in their offices to begin with. Michigan Occupational Safety and Health Administration Director Bart Pickelman confirmed to The Mortgage Note Wednesday that his agency has received 50 complaints against UWM since November 1, 2021. “MIOSHA currently has one open investigation and other investigations that are currently progressing through the appeals process. MIOSHA cannot provide information on an open investigation,” Pickelman said. A former employee told Fox 2 in Detroit that people who work at…
Home prices across the country climbed 18.1% year-over-year (YOY) in November 2021, according to CoreLogic’s Home Price Index (HPI) Report. This is the highest annual growth since at least 1976 when the HPI began. For comparison, the annual growth in November 2020 was 8.1%. Home price growth, which is calculated against the median national home sale price, was up in all four price tiers measured by CoreLogic. The lowest price tier rose 19.8% YOY, while the low- to middle-priced tier rose 19%. Middle- to moderately-priced homes saw an increase of 19.1%, while high-priced homes saw prices rise 18.6%. Arizona saw the highest YOY appreciation (+28.6%), followed by Florida (+25.8%) and Idaho (+25.5%). Washington, D.C., and Alaska were at the bottom…
Good Morning! Today is Tuesday, January 4. Apple became the first U.S. company to reach $3 trillion in market value. Chuck Schumer threatened to change Senate filibuster rules if Republicans did not allow a vote on voting rights measures. Elizabeth Holmes was found guilty on four counts of fraud related to her failed company, Theranos. And in mortgage and housing news… Bond Market Rally In 2022?: Could a drop in Chinese interest rates spark a bond rally in the US? Some companies think so. Americans On The Move: Vermont, South Dakota, South Carolina, and Florida were the top states to move to in 2021, with most movers saying they chose their new home based on proximity to family, according to…
A new study from United Van Lines found Americans moved to lower-density areas to be closer to their families in 2021. The study, which uses data from the migration patterns of United Van Lines customers, found Vermont and South Dakota had the highest inbound migration, at 74% and 69%, respectively. South Carolina (63%), West Virginia (63%), and Florida (62%) also had high inbound migration rates. New Jersey had the highest number of people moving out of the state, at 71%, for the fourth year in a row. Illinois (67%), New York (63%), Connecticut (60%), and California (59%) also saw high outbound migration. Kentucky and Wyoming were among several “balanced” states that saw similar numbers of people moving in and out.…
Americans packed up the moving vans and fled New Jersey and New York at a higher rate than any other state in 2020, with the U.S. migration patterns continuing to be to the West and South, according to the annual United Van Lines national migration study released Monday. The study, which tracks moves using United Van Lines, found that Idaho was the highest percentage of inbound migration at 70 percent. New Jersey led the way for outbound traffic for the third straight year, with 70 percent leaving – followed by New York and Illinois (both at 67 percent). “United Van Lines’ data makes it clear that migration to western and southern states, a prevalent pattern for the past several years,…
