Mortgage News

The latest industry news, digested.

360 Mortgage Group Touting 15-Minute Mortgage Approval Sans Loan Officer

360 Mortgage Group Touting 15-Minute Mortgage Approval Sans Loan Officer
August 29, 2017 No Comments »

A mortgage bank by the name of 360 Mortgage Group is making some lofty claims, one being a 15-minute full mortgage approval. The company says its customers can “receive a true loan approval in 15 minutes on average,” which sounds ... Read More »

Jay-Z and Beyoncé Take Out $52.8 Million Mortgage on Bel Air Home

Jay-Z and Beyoncé Take Out $52.8 Million Mortgage on Bel Air Home
August 24, 2017 No Comments »

Think you can’t get a jumbo loan these days? Think again. Power couple Jay-Z and Beyoncé somehow managed to get a $52.8 million-dollar mortgage from the bank to finance their home in Los Angeles. Per the LA Times, the pair ... Read More »

Mortgage Lender Nationstar Becomes Mr. Cooper, Will Offer Home Rewards Credit Card

Mortgage Lender Nationstar Becomes Mr. Cooper, Will Offer Home Rewards Credit Card
August 23, 2017 No Comments »

Nationstar Mortgage officially announced its name change to “Mr. Cooper” this week in what appears to be an effort to make a fresh start with a more appealing and consumer friendly image. At first glance, the name Mr. Cooper sounds ... Read More »

Soon You May Be Able to Buy a House Without an Appraisal

Soon You May Be Able to Buy a House Without an Appraisal
August 18, 2017 No Comments »

Here’s something that may finally speed up the typically slow home loan process: an appraisal-less home purchase. Yep, it’ll be a reality for some folks come September thanks to a new initiative by Freddie Mac. First a little background. The ... Read More »

One in Five Prospective Buyers Searched Outside Their Metro for a Home

One in Five Prospective Buyers Searched Outside Their Metro for a Home
August 17, 2017 No Comments »

They say affordability is at near-record levels, yet the number of prospective buyers looking outside their own metro is rising, per a recent report from Redfin. The company noted that 21% of Redfin users “searched mostly” for properties outside their ... Read More »

Millennials Favor Conventional Mortgages Over FHA

Millennials Favor Conventional Mortgages Over FHA
August 10, 2017 No Comments »

I’ve got more Millennial mortgage data for you, courtesy of the monthly Ellie Mae Millennial Tracker. This is a heavily watched group because they’re expected to carry the housing market to the next stage, hopefully higher. While the word Millennial ... Read More »

Low Down Payment Home Purchases Hit Seven Year High

Low Down Payment Home Purchases Hit Seven Year High
August 7, 2017 No Comments »

In what seems like yet another troubling sign that we’re returning to the fast and loose times seen a decade ago, Black Knight Financial Services reports that low down payment purchase mortgage lending hit a seven-year high last month. The ... Read More »

1% Down Payment Mortgages Come Under Fire

1% Down Payment Mortgages Come Under Fire
August 3, 2017 No Comments »

While we’ve come a long way since housing bottomed, the memories of how we got there still don’t feel very distant. A lot of things contributed to the complete breakdown of the real estate market, with exotic financing being one ... Read More »

Home Sellers Making the Most Money Since 2007

Home Sellers Making the Most Money Since 2007
July 31, 2017 No Comments »

If you’re wondering if it’s a good time to sell a house, look no further than the ATTOM Data Solutions report released last week. The company’s Q2 2017 U.S. Home Sales Report found that the average price gain for home ... Read More »

Ally Home Launches Price Match Guarantee for Mortgages

Ally Home Launches Price Match Guarantee for Mortgages
July 26, 2017 No Comments »

Mortgage industry newcomer Ally Home is getting into the price match game with its just launched promotion called, you guessed it, “Price Match Guarantee.” If you’re not familiar, Ally Home got into the mortgage business late last year, essentially rising ... Read More »