Mortgage brokers are tired of the dialogue around elevated interest rates. “It is what it is,” some say, emphasizing that other factors – such as changes in policy at the Federal Housing Administration — are having a more notable impact on their business and the consumers they serve. At UWM’s Live! event last week, more […]
Mortgage brokers say FHA changes, inventory are key hurdles Read More »
The mortgage industry’s comeback after years of economic challenges sputtered, as diminished loan volume and increased production costs made lending unprofitable at nonbanks in the first quarter. Still, the industry managed to narrow losses compared to three months earlier but production ended up in the red again for a second straight quarter, according to the
Mortgage profits near break-even, but costs still climb Read More »
Sean Grzebin stepped into the role of CEO of Chase Home Lending in November, armed with the advantage of having worked across functions at the bank since 2011. With a career that has taken him from PHH Mortgage in 1997, to Countrywide, to Goldman Sachs and then Chase, Grzebin has seen his share of market
Chase Home Lending CEO on AI, growth, and market volatility Read More »
The volatile mortgage rate environment in the fourth quarter last year did not impact the quality of closed applications, with critical defects falling to their second lowest level on record, Aces Quality Management found. “Lenders made meaningful progress in loan quality in 2024, closing the year with one of the lowest quarterly critical defect rates
Loan defect share improved even as mortgage rates rose in 4Q Read More »
April’s increase in rate lock activity does lend some support to the optimistic views on Spring’s market, according to Optimal Blue. Its Market Volume Index, a measurement of rate lock activity, was at 109 for April. This was up from 105 in March, a gain of 3.2%, and 103 for April 2024, 5.9% higher. This
What rate lock activity means for the Spring purchase market Read More »
A lack of housing inventory, fluctuating mortgage interest rates and home prices are the subjects that worry loan originators this year, those participating in the annual National Mortgage News Top Producers survey said.The annual survey had 327 originators participate, a number slightly smaller from last year, but the outcomes were notable. Surprisingly, LOs seem rather
LOs pivoting to non-QM, equity products: survey Read More »