Mortgage

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,...

Economic Pessimism Reaches Decade High, Buyers Realize Lack of Leverage

December 7th, 2021
Sellers and buyers are at odds in today’s market as homeowners retain the edge and buyers continue to battle it out for their purchases—a trend that may be waning, however, according to recent reports. The Fannie Mae Home Purchase Sentiment...

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...

Forbearance Rates Continue Their Decline

November 9th, 2021
The total number of loans now in forbearance decreased by 9 basis points to 2.06% for the week ending Oct. 31, 2021. The Mortgage Bankers Association’s (MBA) latest Forbearance and Call Volume Survey estimates there are 1 million homeowners who...

Mortgage Applications Increased Following Rate Declines

December 8th, 2021
Mortgage applications increased 2.0% for the week ending Dec. 3, 2021, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. The findings: The Market Composite Index, a measure of mortgage loan application volume, increased 2.0% on a...

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...

October Reported Increased Credit Availability

November 10th, 2021
October saw increased credit availability according to the Mortgage Bankers Association (MBA) Mortgage Credit Availability Index (MCAI), which analyzes data from Ellie Mae’s AllRegs® Market Clarity® business information tool. The details: MCAI increased 0.1% to 125.7 in October—indicating loosening credit...

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...

Rocket Community Fund Partners With Experian to Tackle Housing Stability

November 10th, 2021
The Rocket Community Fund announced a collaboration with Experian that will enable the organization to pivot from its door-to-door outreach by calling 50,000 Detroit homeowners at risk of tax foreclosure through Neighbor to Neighbor, the organization’s flagship housing stability program....
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