Lending

Impacts of Appraisal Bias Felt by Real Estate Professionals

October 26th, 2021
Conversations surrounding racial bias in real estate aren’t new, but they have resurfaced as home appraisals gaps based on subjective judgment have slighted minority homeowners looking to capitalize on their accrued equity. Recent reports have placed a more public light...

Guaranteed Rate Raises More than $5 Million to Support Mental Health

November 29th, 2021
Guaranteed Rate has announced it raised more than $5 million in just five days to make a direct impact on mental health in partnership with the American Foundation for Suicide Prevention, Project Healthy Minds and Wounded Warrior Project® (WWP). “One...

September Saw Decreases in Delinquencies Across the Board

December 14th, 2021
In September, 3.9% of all mortgages in the U.S. were 30 days or more past due, with some in foreclosure, according to the latest Loan Performance Insights report from CoreLogic. This represents a 2.4-percentage point decrease compared to September 2020, when...

FHFA Raising High Balance and Second-Home Loan Fees

January 6th, 2022
The Federal Housing Finance Agency (FHFA) recently announced targeted increases to Fannie Mae and Freddie Mac’s upfront fees for certain high balance loans and second home loans. High balance loans are mortgages originated in certain designated areas above the baseline...

MBA Introduces 2022 Affordable Homeownership Advisory Council

October 29th, 2021
The Mortgage Bankers Association (MBA) recently announced the members of its 2022 Affordable Homeownership Advisory Council. The Affordable Homeownership Advisory Council and the Affordable Rental Housing Advisory Council were formed in 2019 to provide important strategic and practical guidance to...

IMB Production Profits Increase in Q3 2021

December 1st, 2021
Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a net gain of $2,594 on each loan they originated in the third quarter of 2021, up from a reported gain of $2,023 per loan in the second quarter...

Freddie Mac: Mortgage Relief Options Available for Those Affected by Tornado Outbreaks

December 15th, 2021
Freddie Mac recently reminded homeowners and mortgage servicers of its immediate disaster relief options for those affected by the outbreak of tornadoes in Kentucky and the surrounding areas. “We encourage everyone to make their safety the priority,” said Bill Maguire,...

New CFPB Report Finds Three Major Credit Bureaus Providing Insufficient Complaint Responses

January 6th, 2022
A new analysis by the Consumer Financial Protection Bureau (CFPB) reveals how changes in complaint responses provided by nationwide consumer reporting companies resulted in fewer meaningful responses and less consumer relief. In 2021, Equifax, Experian and TransUnion together reported relief...

Why You Should Lock in a Mortgage Rate Ahead of the Next Fed Meeting

November 1st, 2021
(TNS)—With the next Federal Reserve meeting set for Nov. 2-3, now is probably a good time to lock in a mortgage rate whether you’re planning a home purchase or a refinance in the near future. It’s likely that the (indirect)...

Mortgage Applications Fall, With Refinance Incentives Down

December 1st, 2021
Mortgage applications decreased 7.2% for the week ending Nov. 26. According to the latest data from the Mortgage Bankers Association (MBA), the Market Composite Index, which measures the volume of mortgage loan applications, decreased 7.2% on a seasonally adjusted basis...
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