Purchase mortgage rates declined this week on the news that inflation appears to have peaked and appear to be stabilizing. The 30-year fixed-rate mortgage decreased this week to an average of 5.13%, down from last week’s 5.22%, according to the latest purchase mortgage survey from Freddie Mac. A year ago this time, rates averaged 2.86%. The […more]
This article was first published on NerdWallet.com. Selling a home these days isn’t as effortless as a year ago, when a seller could choose among competing buyers. “Overall, I’d say the buying/selling experience right now is comparable to the summer of 2019,” Dana Bull, a Realtor in the Boston area, said in an email. Today, […more]
Struggling digital mortgage lender Better.com is teaming up with secretive big data firm Palantir to create a proprietary loan platform that is says will enable Fannie Mae, Freddie Mac and mortgage investors to make “richer and deeper data-driven mortgage capital allocation decisions.” Tinman Marketplace, as it has been dubbed, will be powered by Palantir’s Foundry […more]
July saw whiplash mortgage rates and our audience followed economic news very closely. Articles about rates, housing inventory and inflation were among our most popular, including: Purchase mortgage rates fall same week as Fed rate hike New home sales make it clear, housing is in a recession The nation’s housing market is on a correction […more]
United Wholesale Mortgage (UWM) this week launched temporary rate buydowns, a product that allows borrowers to receive lower mortgage rates at the beginning of their loan terms by using seller concessions as part of the payment. It’s a complementary product to the wholesale lender’s “Game On” initiative, a cut-rate pricing strategy devised to grow market […more]
Title and closing software provider SoftPro has released a new integration with Pennsylvania-based Conestoga Title Insurance Company, the firms said Wednesday. Through the integration, Conestoga agents who are customers of SoftPro can now issue CPLs, as well as commitment and policy jackets within their title insurance software. SoftPro says that this eliminates the need to […more]
Bill Lyons, founder and CEO of Griffin Funding and 2020 HousingWire Vanguard Honoree, sat down with HousingWire to discuss his company’s repeat ranking on the Inc. 5,000 list, along with his upcoming appearance at HW Annual Oct. 3-5. Don’t miss more of Lyon’s great insights when he takes the stage Oct. 4 at the Vanguard […more]
EagleBank, one of the largest community banks in metro Washington, D.C., has reached settlements with both the Federal Reserve Board and the U.S. Securities and Exchange Commission (SEC) over insider-lending allegations brought against the bank and its former top executive, Ronald Paul. The bank, which operates a mortgage-lending unit, along with its holding company, Eagle Bancorp Inc., have agreed […more]
Mortgage lender Angel Oak Home Loans has implemented SimpleNexus‘ all-in-one mortgage app to streamline its loan origination process. The Atlanta mortgage lender, which offers agency and non-qualified mortgage (non-QM) products, will implement the tech firm’s Nexus Origination and Nexus Engagement tools. A customized loan application developed for Angel Oak Home Loans will support both agency […more]
The Federal Housing Finance Agency (FHFA) and Ginnie Mae are walking back some of the more controversial proposed eligibility requirements for sellers, servicers and issuers they oversee. But the agencies will not wipe out the requirements entirely. An initially proposed 200 basis point hedging requirement will instead be 50 basis points for both agencies. Institutions […more]