The mortgage lending industry continues to lag behind the level at which proponents of electronic mortgages – otherwise known as eMortgages – think lenders should be in adopting the technology. A recent survey by Fannie Mae and Freddie Mac reveals that there are still plenty of obstacles across a range of issues and pain points. “We found that eMortgage adoption continues to gain traction with lenders; however, the adoption has been slow due to ...
With residential origination costs constantly rising, should rank-and-file loan officers worry that their jobs will eventually be automated away thanks to advances in technology? The thinking goes like this: Lenders are spending hundreds of million dollars a year in software upgrades to automate as many LO functions as they can. The ultimate goal is to reduce the number of loan officers and whittle down costs. Depending on where they work, mortgage loan officers can earn ...
While the homeownership rate for people 25 to 34 years old remains well below the levels seen for that age group before the financial crisis, analysts at Fannie Mae note that the homeownership rate for millennials is starting to increase. Fannie defined millennials as those born between 1981 and 2000. Patrick Simmons, director of strategic planning in Fannie’s economic and strategic research group, turned to the Census Bureau’s American Community Survey to ...
Some 61.0 percent of loans securitized by Ginnie Mae in the first half of 2016 were purchase mortgages, compared to 46.2 percent for Fannie Mae and Freddie Mac…
The private MI share of new primary insurance rose 6.0 percentage points to 37.8 percent during the second quarter, while the FHA share fell 5.4 percentage points to 34.4 percent…
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