Two more lenders have joined the parade of early conforming loan limit boosters, Crosscountry Mortgage and Rate. They join United Wholesale Mortgage and Pennymac in being willing to underwrite loans up to $819,000 for future sale to Fannie Mae and Freddie Mac. Of the major lenders who have done so in the past, only Rocket […]
Rate, Crosscountry latest to boost conforming limits early Read More »
Cities with younger, more mobile populations are set to benefit more from sinking mortgage rates, a new Realtor.com report found. More than 80% of existing mortgages have a rate of 6% or lower, meaning as rates approach similar levels, more homeowners will be brought back to the market. This especially is true in metros with
Youthful cities to benefit more by falling mortgage rates Read More »
Home buyers saw hints of easing affordability throughout the summer, as mortgage payment levels dropped month to month, but prices and inventory still prove to be formidable obstacles. The median payment on new mortgage applications in August came in at $2,100, a 1.3% decrease from July. August’s number still clocked in 2.1% higher compared with
Mortgage payment levels see fourth straight monthly drop Read More »
Mortgage rates increased this week as investors digested all the commentary from the September Federal Open Market Committee meeting. The yield on the 10-year Treasury, one of the benchmarks used in pricing mortgages, was at 4.19%, after closing Wednesday at 4.15% and at 4.1% on Sept. 18, the day after the FOMC meeting. On Sept.
Mortgage rates rise after FOMC’s decision Read More »
Silvio Tavares waited years for news that finally arrived in July: government-sponsored enterprises Fannie Mae and Freddie Mac would finally allow lenders to use something other than a FICO score to determine whether a customer is credit-worthy enough to buy a home. The wonky policy change, delivered via a social media post after years of
Fannie, Freddie win for VantageScore causes pain for FICO shares Read More »
Adobe Stock Application gains slowed to a crawl last week after soaring earlier as fixed rates that dominate the market experienced a more subdued decline. Mortgage applications increased 0.6% following a 29.7% jump for the week ending Sept. 12, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey. On an unadjusted basis, volume increased
Mortgage applications’ meager gains contrast previous spike Read More »
The title industry saw premium volume and profits both head higher with only a mild drift upward in claims during the second quarter, sustaining a turnaround insurers began to see last year. Insurers reported $4.5 million in premium volumes between April and June 2025, with the total rising approximately 9.8% from one year earlier, according
Title insurers report rising volumes in 2025 Read More »
Fannie Mae made downward revisions to mortgage rate forecasts in its latest monthly economic update with projections for higher volumes than previously anticipated next year. The government-sponsored enterprise revised the average 30-year fixed-rate mortgage projection for fourth-quarter 2025 to 6.4% from 6.5%, and the one for the same loan type a year further out to
Where Fannie Mae anticipates rates will head next Read More »
In our Tech Disruption survey, National Mortgage News asked participants “What technology is in use in your organization?” When it came to “advanced fraud protection tools,” significant shares of banks, credit unions and nonbank mortgage lenders all said they do employ them. However, a 13 percentage point gap exists between banks (86%) and nonbanks (73%);
EXCLUSIVE RESEARCH: Fraud tech gaps emerge between banks and nonbanks Read More »
New Jersey’s Oceanfirst Bank is ceasing mortgage operations later this year, choosing to instead embark on a new nonbank partnership to serve its customers with home lending needs. The “strategic decision” will pair Oceanfirst with Embrace Home Loans, a deal that is set to begin in the fourth quarter this year, bank officials said. “The
Oceanfirst announces mortgage exit, partners with Embrace Read More »