Mortgage News

The latest industry news, digested.

Volume of $1 Million to $10 Million Mortgages Hits All-Time High

Volume of $1 Million to $10 Million Mortgages Hits All-Time High
July 29, 2014 No Comments »

It’s no secret that mortgage lending has hit the skids in recent months. There are considerably fewer borrowers refinancing their existing mortgages and home purchases are still pretty sluggish. Earlier this year, Black Knight Financial Services said mortgage origination volume ... Read More »

Realtors’ Chief Economist Says FHA Loans Are a Rip-Off for Consumers

Realtors’ Chief Economist Says FHA Loans Are a Rip-Off for Consumers
July 28, 2014 No Comments »

Last week, Zillow hosted its fifth housing forum in the nation’s capital to discuss current real estate matters. The panel of reporters, real estate gurus, and policymakers discussed a number of issues, ranging from why people move to mortgage rates ... Read More »

Zillow to Buy Trulia for $3.5 Billion in Stock

Zillow to Buy Trulia for $3.5 Billion in Stock
July 24, 2014 No Comments »

There were several reports floating around today that Zillow is in talks to buy its smaller rival Trulia for a whole lot of money, despite spokespeople for both companies declining to comment.  But these rumors generally turn out to be ... Read More »

Yes, You Can Buy a Home on a Minimum Wage Salary, Maybe

Yes, You Can Buy a Home on a Minimum Wage Salary, Maybe
July 22, 2014 No Comments »

A new analysis from Zillow revealed that many minimum wage earners own homes nationwide, a surprising fact given how low the hourly rate of pay appears to be. The company noted that 3.3 million Americans were paid at or below ... Read More »

Home Prices Are Expected to Peak in 2016, Then Do Pretty Much Nothing Through 2022

Home Prices Are Expected to Peak in 2016, Then Do Pretty Much Nothing Through 2022
July 21, 2014 No Comments »

Are you still looking to buy a place before time runs out? Don’t want to miss out on the next big housing boom? Well, it might already be too late, assuming you’re looking to turn a big profit, or any ... Read More »

Mortgage Closing Rate Surpasses 60% in June

Mortgage Closing Rate Surpasses 60% in June
July 17, 2014 No Comments »

While mortgage volume might not be what it once was, it seems more of those loan applications are actually funding these days. The latest Ellie Mae Origination Insight Report released today revealed that the “pull-through” rate topped 60% for the ... Read More »

Chase Seems to Be Losing Interest in Originating Mortgages

Chase Seems to Be Losing Interest in Originating Mortgages
July 16, 2014 No Comments »

At a time when smaller banks are easing underwriting guidelines to deal with flagging mortgage demand, JP Morgan Chase seems to be taking a step back. During the second quarter, the New York City-based bank and lender only mustered $16.8 ... Read More »

California Homeowners Will Receive About $90 Million from Citigroup Mortgage Settlement

California Homeowners Will Receive About $90 Million from Citigroup Mortgage Settlement
July 15, 2014 No Comments »

Yesterday, the U.S. Justice Department came down hard on Citigroup, slapping the bank with a $7 billion fine over allegations it sold faulty mortgage-backed securities to unknowing investors between 2003 and 2008. In short, the company knew the mortgages behind ... Read More »

Soon You’ll Be Able to Sell Your Home Online in Just Three Days

Soon You’ll Be Able to Sell Your Home Online in Just Three Days
July 14, 2014 No Comments »

Life has gotten a lot more convenient over the past decade thanks to our friend the Internet. Today, we can shop for clothes, groceries, and just about anything else online, do our banking with text messages and smartphones, or hail ... Read More »

Survey: Less than Two Percent of Recent Mortgages Were Non-QM

Survey: Less than Two Percent of Recent Mortgages Were Non-QM
July 14, 2014 No Comments »

If you’re wondering how popular non-QM lending is these days, the answer is not very. The National Association of Realtors, which conducted its 2nd Survey of Mortgage Originators back in April, revealed today that just 1.6% of loan production in ... Read More »