Month: September 2018

OPINION Are Wells Fargo, PNC probes a setback for affordable housing?

September 21, 2018April 13, 2019sandra

By Andy Peters Published September 19 2018, 5:02pm EDT National Mortgage News The U.S. suffers from a staggering lack of apartments and homes that low-income consumers can afford. The National Low Income Housing Coalition puts the shortage of affordable units nationwide at 7.2 million, and many industry participants believe that the single-best way to tackle the problem is to expand the low-income housing tax credit (LIHTC), a federal tax credit used to encourage development of more affordable housing. Bipartisan legislation is under consideration in Congress to do just that. That’s why the news that PNC Financial Services Group, Wells Fargo and other unnamed banks are being probed for allegedly colluding with developers to win… Read More

Real estate farming: Become the go-to agent in your area using these tips, tools & strategies May 2, 2024
Learn how to generate a steady pipeline of real estate leads and clients in your area using this proven approach.
Megan DeMatteo, Emile L'Eplattenier
Zillow believes the evolution of the industry will only help it grow May 2, 2024
“Of the approximately 1.5 million real estate license holders, many handle only one or two transactions a year. These are not our Premier Agent partners,” Zillow's Rich Barton said.
Brooklee Han
All parties have settled the Sitzer/Burnett suit, so what’s next? May 1, 2024
Industry experts discuss the litigation calendar and what real estate agents should focus their energy on now that all parties have settled.
Brooklee Han
Longtime reverse mortgage leader Scott Norman appointed CEO of Texas MBA May 1, 2024
Norman has had an influential role in the reverse mortgage industry, including five terms as co-chair of NRMLA.
Chris Clow
Rates at 7% attract different types of borrowers, forcing lenders to rethink profit strategies May 1, 2024
The Federal Reserve's recent moves have supported average mortgage rates at the mid-7% level
Flávia Furlan Nunes

Zillow stock slumps on first-time buyer, mortgage rate headwinds May 1, 2024
Zillow Group Inc. shares fell after the real estate company published a second-quarter outlook that called for lower revenue in its core business and predicted stalling growth in the broader U.S. housing market.
Title premium volume falls 31% year-over-year May 1, 2024
Title insurers, whose activity is highly correlated to mortgage production, wrote $15.1 billion in premiums during 2023, down from $21 billion in 2022 and $26.2 billion for the year before that.
Brad Finkelstein
Chances of 2024 rate cuts dim by the month May 1, 2024
The Federal Open Market Committee held the federal funds rate at current levels, citing "lack of further progress" toward meeting inflation goals.
Spencer Lee
Fannie Mae, Freddie Mac add appraisal rules, title options May 1, 2024
Both quasi-public mortgage investors have new requirements for when borrowers question valuations. Freddie Mac is expanding use of title insurance alternatives.
Bonnie Sinnock
Biden orders spy agencies to share more cyber-threat intel with banks May 1, 2024
A new policy directive aims to fortify critical infrastructure by enhancing collaboration between U.S. intelligence agencies and systemically important financial entities.
Carter Pape

Which Mortgage Should I Pay Off First? May 1, 2024
Mortgage Q&A : “Which mortgage should I pay off first?” Today we’re going to talk about strategy if you hold multiple mortgages and want to reduce your total interest expense. It’s not uncommon to have multiple mortgages, such as a first and second mortgage tied to the same property. Or perhaps a couple mortgages on… Read […]
Colin Robertson
Assumable Mortgages: Do They Finally Make Sense with 7%+ Mortgage Rates? April 30, 2024
It’s time to talk about assumable mortgages. Everyone knows mortgage rates are no longer super cheap. The popular 30-year fixed was in the low 3% range just last year and today is closer to 7.5%. And it’s possible mortgage rates could move higher before they move lower, though they could be close to peaking. For… Read […]
Colin Robertson
What Do Mortgage Loan Processors Do? In Short, Everything to Close Your Loan! April 29, 2024
I’ve already covered the mortgage underwriter’s role, so let’s take a look at what mortgage loan processors do too. After you speak to a mortgage broker or loan officer and agree to move forward with a loan application, a processor may reach out to gather required paperwork. This individual is responsible for prepping and organizing… Read […]
Colin Robertson
What Do Mortgage Underwriters Do? Decide If You’re Approved! April 23, 2024
Here’s some Q&A with regard to the home loan approval process: “What do underwriters do?” Once you actually apply for a home loan, your mortgage application will be organized by a loan processor and then sent along to a loan underwriter, who will determine if you qualify for a mortgage. The underwriter can be your… Read […]
Colin Robertson
Portfolio Lenders: A Solution for Hard to Close Mortgages April 22, 2024
If you’re having trouble obtaining a home loan, perhaps after speaking to multiple banks, lenders and even a mortgage broker, consider reaching out to a “portfolio lender.” Simply put, portfolio lenders keep the loans they originate (instead of selling them off to investors), which gives them added flexibility when it comes to underwriting guidelines. As… Read […]
Colin Robertson

The Fed holds interest rates steady — here's what that means for your monthly expenses May 1, 2024
The Federal Reserve pushed out rate-cut expectations — here's what that means for your credit card, mortgage rate, auto loan and savings account.
Demand for riskier adjustable-rate mortgages hits highest level of the year, due to rising rates May 1, 2024
The share of ARM applications rose to 7.8% of mortgage demand last week, according to the Mortgage Bankers Association. That is the highest level of the year.
Home prices soar even higher in February, despite higher mortgage rates, says S&P Case-Shiller April 30, 2024
It marked another increase after the prior month's annual gain of 6%, and the fastest rate of price growth since November 2022.
As sellers, buyers wait on a Fed cut, here's how mortgage rates impacted the spring housing market April 29, 2024
While some buyers have come to terms with 7% interest rates, the rate volatility is the factor with the biggest impact, an economist says.
The real problem with commercial real estate is people not coming to work, says Bruce Ratner April 29, 2024
Bruce Ratner, former New York City real estate developer and 'Early Detection' author, joins 'Squawk Box' to discuss the real estate market, state of commercial real estate, mortgage rate outlook, Ratner's personal crusade against cancer, and more.