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 »