Has COVID-19 Permanently Changed the Mortgage Business? July 8, 2020 Brandon Ivey Industry insiders believe that many of the temporary measures created to deal with the coronavirus crisis will eventually be made permanent.Read More
Quicken's IPO Filing: Gilbert Still in Charge, Big Profits July 8, 2020 Brandon Ivey Dan Gilbert will retain majority control of Quicken Loans after an IPO involving the lender, which turned a nearly $900 million profit last year.Read More
Short Takes: SCOTUS Upholds Robocall Ban / Zillow Resumes Homebuying in More Markets / Foreclosure Threat Grows / Consumer Financial Protection Week July 7, 2020 Yemeng Yang The Supreme Court upheld a law banning cellphone robocalls, striking down a debt-related exception created by Congress in 2015... Read More
Tappable Equity Hit All-Time High in First Quarter July 7, 2020 Yemeng Yang However, homeowners have shown little interest in accessing the available equity through cash-outs.Read More
Sprout Resumes Non-QM Lending Through Correspondent Channel July 7, 2020 Brandon Ivey The bulk of non-QM originations come through mortgage brokers and the retail channel.Read More
Originations Up in Second Quarter for Many Lenders July 6, 2020 Paul Muolo Finance of America Mortgage funded roughly $5.19 billion in the second quarter, a $1 billion sequential improvement. Other lenders also posted gains.Read More
Short Takes: Interest Rates Could Go Lower / LoanStream Loosens Non-QM Underwriting / Mergers Completed / NJ Broker Rebrands July 6, 2020 Brandon Ivey The average interest rate on 30-year fixed-rate mortgages could fall below 3.00% later this year, according to Freddie Mac's chief economist.Read More
Mortgage Bankers Cut Jobs in May While Brokers Added Positions July 2, 2020 Paul Muolo Loan brokers, on the other hand, added 1,100 full-timers in May, bringing their employment count to 93,700. Over the past 12 months, brokerage firms have added 8,500 workers. Read More
Short Takes: FoA Looks to Buy Servicing / A Problem: Origination Capacity / A Dip in Applications / Wanted: Larger Homes / A New CD for CHLA July 1, 2020 Paul Muolo Finance of America sees an opportunity in mortgage servicing rights...Read More
Remaining Strong in June: Fannie, Freddie MBS Issuance July 1, 2020 John Bancroft Refinance activity continued to drive Fannie/Freddie MBS issuance, but purchase-mortgage activity has still not caught fire...Read More
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