Ask Rocco Morrella III of CENTURY 21 Hallmark in San Jose how long he’s been with CENTURY 21, and his response just may stop you in your tracks. “I was born into CENTURY 21.” Following in the footsteps of his
Mortgage applications continue to fall, inventory remains low
Mortgage applications declined for the week ending April 9, according to the latest report from the Mortgage Bankers Association. It’s the sixth consecutive week of falling mortgage applications. Applications were down 3.7% from the week ending April 2, with rising
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What to Expect in the Housing Market After the Pandemic
Zillow survey results indicate many of the features that have marked the pandemic-era housing market — including heavy buyer demand, tech tool adoption and rising home prices — are likely to persist Go to Source Author:
Why millions of prospective borrowers are stuck in ‘no man’s land’
The White House’s March jobs report showed encouraging job growth one year after the first pandemic-related unemployment claims. Still, the Biden administration says the economy remains down nearly 8.5 million jobs year over year. It’s expected to take at least
Working with buyers in the nation’s hottest housing market
Austin, Texas might be the hottest housing market in the country. The Lone Star State’s friendly tax policies combined with the city’s huge tech scene and its cool factor have made it a destination for Silicon Valley types for several
Nonbank lenders profited $4,200 per loan in 2020
Across the mortgage industry, revenues swelled to record highs in 2020. Nonbank lenders and mortgage subsidiaries of chartered banks reaped the rewards – they nearly tripled their profit per loan last year. According to recent data from the Mortgage Bankers
Redfin: Selling your home? List it midweek
A new report from Redfin shows that homes listed midweek sell for an average of $1,700 more than homes listed on the weekend, based on homes sold above their list price from July 2020 through February 2021. And they sell
Title insurers wrote nearly $20 billion in premiums in 2020
Title insurers wrote $19.2 billion in premiums last year, but a recent report from the American Land Title Association predicts a slowdown in 2021 due to – you guessed it! – low inventory. ALTA officials “do not expect the same level
Here are the top 15 mortgage lenders of 2020
A perfect storm of record low interest rates and shifting consumer behavior spurred by the COVID-19 pandemic resulted in an absolutely incredible year for mortgage lenders in 2020, especially the independent mortgage banks. Virtually every IMB saw origination volumes soar
NAR schedules proxy war with Zillow
SentriLock, the home lockbox company wholly owned by the National Association of Realtors (NAR), announced Tuesday that they created a computer and smart phone platform to help real estate agents juggle their home showing appointments. The development is intriguing for
Gridiron Capital acquires Class Valuation
Private equity firm Gridiron Capital has acquired Michigan-based appraisal management company Class Valuation from another private equity player, Narrow Gauge Capital, the firms said in a statement on Friday. Terms of the deal were not disclosed, though Narrow Gauge will
Ginnie Mae loans lead drop in forbearance to 4.66%
Servicers’ total number of loans in forbearance fell a whopping 24 basis points to 4.66% of portfolio volume during the first full week of April, according to a survey from the Mortgage Bankers Association – one of the biggest drops
Fannie Mae exec Andrew Peters leaves for Lenderworks
National mortgage services provider Lenderworks has brought on Fannie Mae‘s head of single-family strategy Andrew Peters as president, the company said Monday. Peters served as a strategy consultant for the government sponsored enterprise before rising to the position of vice
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GSEs won’t buy QM loans under GSE Patch after July 1
In Lender Letters issued on Thursday, Fannie Mae and Freddie Mac confirmed that loans purchased by the GSEs with application dates on and after July 1, 2021, must meet the standards of the Consumer Financial Protection Bureau’s Revised Qualified Mortgage
Voxtur acquires appraisal software firm Anow
Canadian real estate technology company Voxtur Analytics Corp. closed on the acquisition of appraisal management software firm Appraisal Now for approximately $30.5 million, the company said this week. “This strategic acquisition bolsters recurring revenues and accelerates the development of Voxtur’s
Targeting first-generation homebuyers for financial help
The Urban Institute‘s Housing Finance Policy Center recently posited that down payment assistance for first-generation homebuyers could help turn the tide of systemic racism by reducing intergenerational wealth disparities. Researchers said federal, state, and local housing policies have “systematically excluded
William Raveis ain’t no stinkin’ iBuyer
Residential brokerage and mortgage lender William Raveis is buying its clients’ homes across New England, the tri-state area and Florida. But don’t confuse its new program with iBuying – they’re looking to solve the sell-before-you-buy dilemma in a different manner. “We’re
How student lending can benefit non-bank lenders
Over the last several years, non-bank mortgage originators have established a much larger market share. Additionally, non-bank servicers have more than doubled their ownership of servicing rights in the last 10 years. This gives non-bank lenders and servicers significantly greater