The historically low level of inventory for sale suggests that any rate-related increase in sales will be muted due to the inadequacy of listings needed to fulfill higher buyer demand. This softer sales response also suggests more upward pressure on pr… Continue reading
The Federal Housing Finance Agency wants at least 35 percent of the purchase mortgages backed by Fannie and Freddie to be taken out by low- and very low-income borrowers, up from 30 percent today. Continue reading
Fannie and Freddie will use new price-based qualified mortgage rule for loans with settlement dates after Aug. 31. Continue reading
“Home search is ripe for innovation and implementation by lenders for securing more purchase business,” said Homebot CEO Ernie Graham. Continue reading
The debt offering — in the form of senior convertible notes that mature in 2026 — will include a $750 million private offering to qualified institutional investors. Continue reading
UWM CEO Mat Ishbia emphasized the dramatic growth in purchase loan volume, saying the company’s relationships with mortgage brokers will help it stay profitable as mortgage rates increase and refinancings dry up. Continue reading
San Francisco-based Divvy Homes buys homes on behalf of clients, who contribute 1 to 2 percent of the homes value toward their down payment savings while they rent. Continue reading
Rocket Mortgage posted its best quarter ever for purchase loan originations during the 3 months ending June 30. Continue reading
Taking a page from the playbook of a fintech upstart, the nation’s largest title insurance underwriter is making an automated title decision engine available to title agents. Continue reading
Would-be homebuyers with thin credit files will have a better chance of getting approved for a mortgage if they’ve been paying their rent consistently, thanks to changes to Fannie Mae’s automated underwriting system taking effect next month. Continue reading