A paper from Andrew Davidson & Co. reportedly supports the notion that dropping the tri-merge credit report standard would result in greater risk to mortgage industry participants. Processing Content The paper was brought to media attention by the Consumer Data Industry Association. Others stand by their views that a single pull is sufficient to use […]
Dropping tri-merge reports hikes mortgage risk, paper claims Read More »
Loan applications for newly constructed homes increased 19% between December and January, benefitting from how housing starts performed at the end of 2025, according to the Mortgage Bankers Association. Processing Content Year-over-year, however, volume increased by just 2%, the MBA’s Builder Application Survey reported. Rates for the 30-year fixed reached a three-year low at 6.09%
New home mortgage applications up as starts end 2025 strong Read More »
Mortgage rates ended the week just above 6%, the lowest point since September 2022, although one other indicator had the 30-year fixed under that level for a couple of days. Processing Content The 30-year fixed rate mortgage fell 8 basis points this week to 6.01% as of Feb. 19, the Freddie Mac Primary Mortgage Market
Mortgage rates settle above 6%, lowest in over three years Read More »
Pending sales of existing homes in the US fell in January to a record low as buyers remained unmotivated by lower mortgage rates and slower price increases. Processing Content An index of contract signings fell 0.8% last month to the lowest level in data from 2001, following a revised 7.4% decline in December, according to
Pending home sales fell to record low in January Read More »
Consumers are reengaging with the mortgage market, signaling a return to normality in 2026, TransUnion said. Processing Content Mortgage originations rose 6.5% year over year to 1.3 million in the third quarter of last year, but at the same time, the percentage of borrowers 60 or more days delinquent increased to 1.51% in the fourth
TransUnion sees mortgage market normalizing Read More »
A federal judge, accusing Equifax of gamesmanship in an antitrust suit, has ordered the company to revise agreements with customers of its electronic verification of income and employment business, The Work Number. Processing Content U.S. District Judge John F. Murphy published his order Tuesday, dealing a blow to the credit reporting agency fighting a lawsuit
Court says Equifax VOIE terms must be rewritten Read More »
New residential construction in the US rose to a five-month high in December, as homebuilders boosted production to take advantage of lower borrowing costs. Processing Content Housing starts increased 6.2% to an annual pace of 1.4 million homes in December, according to figures released Wednesday by the government, which were delayed by fall’s federal shutdown.
Housing starts rise to five-month high in broad increase Read More »
At a time when government officials and politicians are grappling with finding ways to increase bank participation in mortgage lending, a Pennsylvania depository is teaming with a nonbank to deliver the function to its customers. Processing Content Firstrust Bank, based in Conshohocken outside Philadelphia, has entered a strategic partnership with MortgageCountry in nearby Blue Bell,
Bank turns to nonbank to run mortgage production Read More »
Plummeting mortgage rates during the third quarter last year started a shift in originators’ business mix towards refinance, and this, more than a lessening emphasis on loan manufacture quality, resulted in a huge jump in defect rates, Aces Quality Management said. Processing Content For the last week of June, the 30-year conforming fixed rate mortgage
Refi shift drives latest increase in mortgage defect rates Read More »
Home Mortgage, is launching a new program to help financial professionals integrate home equity into retirement planning. Processing Content The training, offered exclusively to NAIFA members, focuses on the ethical and strategic use of housing wealth, including reverse mortgages, in retirement planning for clients 55 and older, the organizations said in a press release Tuesday.
Fairway, NAIFA reverse mortgage training targets financial advisors Read More »