This week signaled positive news for prospective homebuyers, as mortgage rates experienced a drop to 6.6%, hitting their most affordable point since May 2023. This development provides a potential opportunity for those who have been patiently biding their time to enter the housing market.
Fraudsters are becoming increasingly audacious in their efforts to prey upon elderly Americans, asserts the Bureau. These cheaters falsely identify themselves as affiliates of the CFPB or other government bodies in an attempt to deceive the victim.
UWM has a goal to bridge homebuyers and local mortgage brokers, featuring a variety of loan alternatives on its revamped website, Mortgage Matchup.
The likelihood of government-sponsored enterprises increasing their mortgage-backed securities purchases, coupled with the cessation of the Federal Reserve’s quantitative tightening, could potentially provide a solution. However, one of these scenarios appears more probable than the other.
Experts interpret the projected curve and the latest decrease in the mortgage rate as positive indicators for a prospective revival in refinancing.
Buying a new home or specific condominiums using reverse mortgage funding is a possibility for individuals aged 62 and over. This can be done by merging a single investment from their resources, like revenue from the sale of their existing house, with proceeds from a reverse mortgage loan to finalize the purchase.
The mortgage banking sector has lost an iconic figure, David Stevens, who passed away recently. His illustrious career, lasting over forty years, included leading roles at the Mortgage Bankers Association and the Federal Housing Agency.
Secretary of Housing and Urban Development, Fudge, seemed receptive to the idea of tackling a problem that industry association heads earlier pinpointed as vital for housing affordability in 2024.
Anchor Loans has initiated a Third Party Originator (TPO) channel with the aim of catering to the needs of mortgage brokers, banks, as well as private and non-QM lenders.
The newly introduced mobile application for the Optimal Blue PPE presents loan officers with the functionality to search for products anywhere, anytime.