Lending

Mortgage Rates Fall Slightly, But Still Above 3%

November 5th, 2021
The 30-year fixed-rate mortgage (FRM) averaged 3.09% for the week ending Nov. 4 according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS®). Mortgage details: – 30-year fixed-rate mortgage averaged 3.09% with an average 0.7 point, down from last week when...

Fannie Mae Announces Leadership Changes

December 6th, 2021
Fannie Mae recently announced the appointment of Chryssa C. Halley to executive vice president and chief financial officer (CFO). In this role, Halley reports to the Fannie Mae President and is responsible for Fannie Mae’s financial management and economic and...

Billion-Dollar Loan Officer Shares Path to Success

December 21st, 2021
For the mortgage industry, 2021 was something of a feeding frenzy. Both refinances and new purchase loans broke records as interest rates sat at historic lows. Even under these positive market conditions, however, success was not guaranteed, and it took...

Rocket Companies Releases Q3 Results

November 8th, 2021
Rocket Companies, Inc. announced results for the third quarter of 2021. “We had an excellent third quarter, as we executed on our mission to remove friction from life’s complex moments. Our core mortgage business exceeded the high end of guidance...

Real Estate Q&A: How Can I Restore my Credit After Ex-Spouse Skipped Mortgage Payments?

December 7th, 2021
(TNS)—Q: After I was divorced, the court awarded our home to my ex-spouse and ordered him to refinance the mortgage to get me off of it. He has not refinanced the property several years later and pays the mortgage inconsistently,...

A Seamless Mortgage Experience From Beginning to End

December 22nd, 2021
Working with Rocket Mortgage® a ‘no-brainer’ for Chicagoland broker Cassandra Bockman, a broker at Berkshire Hathaway HomeServices Starck Real Estate, was born into the business. While her mom acts as a managing broker for the firm, which serves the entire...

Originations and Rate Locks Down in October

November 8th, 2021
Overall, rate locks were down 5.9% in October compared to the previous month, also seeing a 23.3% month-over-month decrease in rate/term origination activity. The latest data from Black Knight, Inc.’s Originations Market Monitor report shows rate/term refis are also down,...

FHA Announces New Loan Limits for Home Equity Conversion Mortgage and Single Family Title II

December 8th, 2021
The Federal Housing Administration (FHA) recently announced new loan limits for calendar year 2022 for its Single Family Title II forward and Home Equity Conversion (reverse) Mortgage (HECM) insurance programs. Loan limits for most of the country will increase in...

MBA Releases 2022 Mortgage Market Forecasts

December 27th, 2021
The Mortgage Bankers Association (MBA) recently released its economic and mortgage market forecasts for year-end 2021 and for 2022. Here’s what the organization predicts. For year-end 2021: Purchase originations will rise to $1.61 trillion, eclipsing the previous all-time high of...

Industry Forecasts Purchase Originations to Increase 9% to Record $1.73 Trillion in 2022

October 18th, 2021
The Mortgage Bankers Association (MBA) recently announced that purchase mortgage originations are expected to grow 9% to a new record of $1.73 trillion in 2022. After an anticipated 14% decline in 2021 to $2.26 trillion, MBA expects refinance originations will...
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