Mortgage News

The latest industry news, digested.

Post-Election Mortgage Rate Surge Crushes Refi Candidates, Puts Home Prices on Watch

Post-Election Mortgage Rate Surge Crushes Refi Candidates, Puts Home Prices on Watch
December 5, 2016 No Comments »

It’s been an eventful three weeks or so since the U.S. presidential election took place, that is, if you keep an eye on mortgage rates. They’ve moved in only one direction since November 8th – up. Way up. Though thanks ... Read More »

These Are the Cities Where Mortgages Are Denied Most

These Are the Cities Where Mortgages Are Denied Most
November 30, 2016 No Comments »

Not every mortgage application makes it to the finish line. In fact, lots of mortgages fall out of the pipeline early on for a variety of different reasons. Sometimes it’s the customer who has a change of heart, and other ... Read More »

Are You Equity Rich?

Are You Equity Rich?
November 21, 2016 No Comments »

If you own a home, you probably realize you have some precious equity, especially now that home prices have increased for years on end. Put simply, home equity is the difference between your property value and your existing lien(s). So ... Read More »

Higher 2017 Conforming Loan Limit Should Boost Mortgage Originations

Higher 2017 Conforming Loan Limit Should Boost Mortgage Originations
November 8, 2016 No Comments »

A $5,000 Increase? What About $10,000? A new analysis from Black Knight Financial Services reveals that a slightly higher conforming loan limit could be enough to give mortgage origination volume a serious boost. They provided one scenario where the conforming ... Read More »

SoFi Wants You to Pay Off Your Student Loans with a Mortgage

SoFi Wants You to Pay Off Your Student Loans with a Mortgage
November 3, 2016 No Comments »

Often times student loans get in the way of a mortgage because of the tremendous monthly debt, but fintech lender SoFi wants to create the opposite effect. They’ve launched their so-called “Student Loan Payoff ReFi,” which as the name implies, ... Read More »

Nearly a Third of Recent Short Sellers Have New Mortgages

Nearly a Third of Recent Short Sellers Have New Mortgages
November 2, 2016 No Comments »

Even though the most recent housing crisis is barely behind us, many distressed homeowners have already moved on and apparently moved in. A new study from credit bureau Experian notes that some 29% of those who sold a house short ... Read More »

HomeBridge Financial to Acquire Prospect Mortgage Loan Platform

HomeBridge Financial to Acquire Prospect Mortgage Loan Platform
November 1, 2016 No Comments »

HomeBridge Financial Services announced this morning that it plans to acquire the operating assets of Prospect Mortgage, LLC headquartered in Sherman Oaks, CA. Specifically, HomeBridge is going to get their hands on Prospect’s loan production platform, with the intent of ... Read More »

FHA Lowers Owner-Occupancy Requirement to 35% for Certain Condos

FHA Lowers Owner-Occupancy Requirement to 35% for Certain Condos
October 27, 2016 2 Comments »

Effective immediately, the FHA will lower its owner-occupancy requirement for certain approved condominium complexes to just 35%. That means a given complex only needs about a third of the units to be owner-occupied, instead of the prior rule stating 50%. ... Read More »

Home Purchase Mortgage Volume to Exceed $1 Trillion in 2017

Home Purchase Mortgage Volume to Exceed $1 Trillion in 2017
October 26, 2016 No Comments »

Good News for Real Estate Agents The Mortgage Bankers Association (MBA) expects home purchase lending to hit $1.1 trillion next year, per their latest economic forecast released this week. That would mark an 11% increase from this year’s estimate and ... Read More »

Motto Mortgage Looks to Save the Mortgage Broker

Motto Mortgage Looks to Save the Mortgage Broker
October 25, 2016 No Comments »

Today, RE/MAX Holdings announced the launch of a new one-of-a-kind franchised mortgage brokerage known as Motto Mortgage. In a nutshell, the plan is to create a one-stop shop where home buyers can work with real estate agents and mortgage lenders ... Read More »