Property insurance now accounts for 9.6% of the average mortgage holder's monthly payment, Intercontinental Exchange reports, up from a low of 7.2% in 2018 and 7.5% a decade ago.
A recent rise in self-employed individuals is helping drive increased demand for non-QM products such as bank statement loans, according to lenders who recently spoke with Inside Nonconforming Markets.
Figure will be the first U.S. company to use of Sierra’s newly-established Horizon platform, which enables businesses to build agents that can work on complex tasks over longer periods of time.
The trade group seeks industry comment on a plan to centralize data on the loans collateralizing both agency mortgage-backed securities and non-agency MBS.
“Next week’s [Fed] meeting will be key, as the inflation and economic outlook will help shape the path of rates and homebuyer demand,” said Bob Broeksmit, president and CEO of the Mortgage Bankers Association.
CrossCountry Mortgage and Rocket Mortgage raised the loan limit they'll accept for conforming mortgages by 1.5% ahead of an anticipated increase in conforming loan limits in the new year.
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