New surveys of potential first-time homebuyers suggest that many are delaying purchasing a home due to affordability issues and the accrual of non-mortgage debt. “In many cases, we found today’s buyers are taking a long-term view of homeownership,” said D. Steve Boland, consumer lending executive for Bank of America. “They want to purchase a home that will meet their future needs and understand that, in some cases, that will require saving more, waiting longer and ...
The transformation of the mortgage is continuing apace, as technology vendor Cloudvirga has brought to market its new intelligent Mortgage Platform (iMP), which it bills as the industry’s “first comprehensive digital mortgage platform, effectively alleviating the pain points, cost and time associated with the mortgage process.” The new platform combines three emerging trends in technology: cloud storage and security, digitization of images to useable data, and ...
Mortgages produced through lenders’ retail channels accounted for 60.2 percent of home loans securitized by Fannie Mae and Freddie Mac during the first quarter of this year, according to a new Inside Mortgage Trends analysis of mortgage-backed securities data. The retail share was up slightly from 59.9 percent for all of last year and 59.5 percent in the fourth quarter. Sales of retail-originated loans fell 3.9 percent from the previous period, the smallest ... [Includes one data chart]
Some 59.6 percent of new issuance in the first quarter consisted of re-securitizations and deals backed by seasoned re-performing and nonperforming loans...
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