If it takes longer than 60 days from the time an offer is accepted until close of escrow, Roam will make the homeseller’s mortgage payments for up 60 days after the scheduled closing date. Continue reading
Applications for government-backed purchase mortgages were up 4 percent week over week, accounting for nearly 1 in 4 loan requests from homebuyers, according to the Mortgage Bankers Association. Continue reading
Rising rates took their toll not only on refinancing but on homebuyer demand for purchase loans in June, according to an analysis of rate lock data released Monday by Black Knight. Continue reading
As demand picks up for government loans favored by entry-level buyers, the average purchase mortgage request has shrunk by 10 percent, to $413,500. Continue reading
First-time homebuyers who rely on government mortgage programs are “increasingly challenged” by rapid increases in home prices and higher mortgage rates. Continue reading
Government agencies are looking to better quantify risks from climate change, a step with implications for government-backed home loans. Continue reading
Rising mortgage rates have curbed demand for refinancing and purchase loans after inflation worries pushed rates to highest levels since July. Continue reading
Mortgage lenders are more likely to turn down homebuyers of color than white applicants with similar attributes, and algorithms are likely to blame, according to in-depth analysis by The Markup, a nonprofit newsroom that’s “watching big tech.” Continue reading
Lenders can use borrower’s actual monthly student loan payment when calculating their overall debt burden. Continue reading
At 4.5 percent, the mortgage forbearance rate is 18 times higher than before the pandemic, but much improved from a high of 8.55 percent in June. Continue reading