Older Americans hold more than $14 trillion in home equity — nearly half the size of the U.S. economy. And while seniors can benefit from tapping their equity through a reverse mortgage product, they can also use the loan proceeds to help family members who might be struggling to afford homeownership. Earlier this week, The […]
How parents use home equity to help adult children buy homes Read More »
Recent stock market losses have gotten a lot attention in the news recently. While there’s no reliable correlation between stocks and interest rates, when stock losses are as big as they have been recently, it increases the tendency for rates to move in the same direction. That was definitely the case today. Bonds (which dictate
Mortgage Rates Nudge Lower to Remain In The Same Old Range Read More »
For the second time, a federal court judge in Pennsylvania has dismissed a legal action filed against Nationstar and others, now stating the plaintiff lacked standing to sue. The other defendants are Wilmington Savings Fund Society as the trustee for a mortgage-backed securities trust, and A&D Mortgage, who originated the loan in September 2023 and
Nationstar debt collection case tossed for lack of standing Read More »
Privatizing the National Flood Insurance Program would raise premiums by hundreds of dollars, according to a study that estimates the impact as policymakers weigh potential changes and mortgage-related coverage costs climb. The average 64% increase would equate to an additional $600 in annual costs for the average homeowner with flood insurance, who currently pays $933
What privatizing the NFIP would cost homeowners: Insurify Read More »
Zillow is helping renters use their monthly payments to boost their credit profiles through CreditClimb, a new tool powered by Esusu. Renters can now enroll in CreditClimb directly through Zillow to have their on-time rent payments reported to the three major credit bureaus for $20 a year. The tool also helps renters track their credit
Zillow launches new tool to help renters build credit Read More »
Fairway Home Mortgage is partnering with Made Card to offer a credit card which will provide points for making their normal monthly loan payments and for purchases of home products and services. Borrowers do not need to use the Made for Home, formally the Made Essential Visa Signature Preferred Card, making their on-time mortgage payment
Fairway partners on card that boosts homeownership savings Read More »
Foreign buyers and local investors continue to play a critical role in the U.S. housing market, pushing ahead with purchases and refinances despite rising costs, shifting politics, and slower returns. For mortgage lenders, these buyers represent a growing business opportunity. Investor ownership of residential real estate has long been a contentious topic, with some blaming
Today’s investor property loan opportunity for lenders Read More »
Yesterday, we discussed the fact that mortgage rates were heading into Thursday with a disadvantage (for most lenders, anyway). This had to do with the fact that lenders prefer to avoid changing rates in the middle of the day (unless bond market movement is big enough to force their hands) and the fact that bonds
Mortgage Rates Hold Steady Thanks to Jobs Report Read More »
This has been a year of contradictions for mortgage lending. Rates remain elevated, inventory is scarce, origination volumes are weak — yet one segment of the market continues to surge. Non-QM isn’t simply performing well in a difficult environment; it has become the unexpected center of gravity for the entire industry. At MBA Annual and
Why non-QM underwriting is guiding mortgage lending’s future Read More »
Key Insight: Federal Reserve Gov. Lisa Cook says emerging risks are arising over how artificial intelligence may influence financial markets. Expert quote: “Recent theoretical studies find that some AI-driven trading algorithms can indeed learn to collude without explicit coordination or intent, potentially impairing competition and market efficiency.” — Federal Reserve Gov. Lisa Cook. What’s at
Fed’s Cook sees risk in gen AI-manipulated financial trading Read More »