If you’re thinking about buying a home, then boosting your FICO score should be at the top of your to-do list. Not only does a prime credit score improve your chances of getting approved for a mortgage, but it also
Why Jay Farner is “puzzled” by Rocket’s disappointing stock price
You can understand Jay Farner’s frustration: Rocket Companies just had the most productive quarter in the history of residential mortgage lending. It thumped competitors with a record $89 billion in originations in the third quarter, and made $3 billion in
JPMorgan Chase has a plan to increase purchase mortgage business
In April, with the coronavirus pandemic raging across the country, leaders at JPMorgan Chase made the call: the bank was going to significantly tighten mortgage lending standards. Borrowers weren’t going to get a new mortgage without a 700 or higher
Boston Real Estate Market Trends & Investment Outlook
The Greater Boston housing market is hot right now and both prices and sales are rising. Sales of single-family homes and condominiums rebounded in September across the Greater Boston area, climbing for the first time in at least six months
Mortgage rates rise from record low to 2.84%
The average U.S. mortgage rate for a 30-year fixed loan rose this week to 2.84%, Freddie Mac said in a report on Thursday – up 6 basis points from the previous all-time record low set last week. The average fixed rate for a 15-year mortgage also
Strong Buyer Competition is Pushing Homes to Sell Above List Price
Sellers are being rewarded amid strong demand for homes as buyers are striking quickly with competitive offers when they find a home they like Go to Source Author:
Despite moratoria, foreclosures increase 20% in October
Despite foreclosure moratoria holding steady in several states, a recent foreclosure report from ATTOM Data Solutions revealed a total of 6,042 U.S properties began the foreclosure process in October. That number is up 21% from a month ago, but still
Can’t Sell Your House? 6 Mistakes You Might Be Making
In a perfect world, the home selling process would be straightforward and quick. You’d list your home for sale, schedule house tours, receive multiple offers, and sell your home fast and above list price. Unfortunately, selling your house isn’t always
AIME expands grant program to include veterans, military spouses
The Association of Independent Mortgage Experts isn’t done helping others. After announcing the creation of Spark in September – a vertical aimed at creating paths for women and minorities in the mortgage industry – AIME’s newest program, Military in Mortgage,
What are first-time homebuyers looking for?
Today’s first-time home buyers are a unique bunch. They are typically millennials, budget-conscious, and looking for smaller and less expensive homes. Many have been renting for a long time — longer than they wanted to — and when they get
Endpoint receives $40 million in additional funding from First American
Mobile-first title and escrow company, Endpoint, has announced it received an additional investment of $40 million from its parent company, First American Financial Corporation. This investment brings the total funding received to date to $70 million. Endpoint said that this
6 DIY Home Repair Mistakes to Avoid Before Selling Your House
DIY (do it yourself) is a common approach to home repairs for a variety of reasons, from budget to perceived simplicity. For those preparing to sell their home, pinching pennies can be a common motivation for tackling fixes without professional
Mortgage applications decrease slightly, but refinance index jumps
Mortgage applications decreased 0.5% last week after a 3.8% jump at the end of October, according to a report from the Mortgage Bankers Association (MBA). That’s despite the 30-year fixed rate decreasing to 2.89% — an all-time survey low. The refinance index,
LoanDepot says it’s going public (for real this time)
After a dramatic false start in 2015, California-based lender loanDepot says it’s finally going public. The company, founded by billionaire entrepreneur Anthony Hsieh, said Wednesday morning that its newly formed affiliate loanDepot Inc. had confidentially filed paperwork with the Securities
Rocket delivers record volume in Q3, but execs are tight-lipped on purchase v. refi
Back in September, executives at Rocket Companies bragged about delivering a record third quarter, the kind of origination volume no observer or analyst had ever seen before. They weren’t kidding. Thanks to unprecedented market conditions, shifting demographics and historically low
Q3 earnings update: eXp increases revenue by 2x this quarter
eXp World Holdings, the parent company of eXp Realty, announced in Q3 earnings on Tuesday that its revenue in the third quarter increased 100%, to a record $564 million compared to $282.2 million the year prior. That beat expectations, which
FHA proposes allowing private flood insurance option
The Federal Housing Administration proposed a rule on Tuesday that would allow lenders to use a private flood insurance option rather than go through the National Flood Insurance Program. The proposed rule would allow lenders to use a private insurance
Non-QM lenders are back. But will brokers pick up the phone?
Mark Dodson was having a promising start to the year. His corner of the Atlanta mortgage market – high-value home loans that wouldn’t be bought by the GSEs – was booming. But by March there were whispers that the non-QM
Real estate on the ballot: Here’s what passed at the state level
Several state-level real estate initiatives and urban development policies were voted on in the Nov. 3 general election, including issues involving tax-credits for veterans, widows and long-time homeowners. Here’s a state-by-state real estate ballot breakdown from California, Georgia, Nebraska and
The Mortgage Collaborative brings its own fresh take on virtual
The Mortgage Collaborative, the mortgage industry’s independent cooperative network, has begun releasing details on a significant virtual event they will host for their members during the first three weeks of December. Dubbed “The 12 Days of TMC”, the event will
A week out from proxy vote, CoreLogic defends its board
With just a week before the official meeting takes place, the battle for CoreLogic’s board of directors continued on Monday as CoreLogic issued an open letter that urged shareholders to vote against the Cannae Holdings and Senator Investment Group proposals
Boise Real Estate Market Trends & Investment Outlook
The Boise housing market is a scorcher and is being fueled by low mortgage rates and limited supply compared to demand. The result is that buyers have to pay over the asking price. Home prices in Ada County were up
What is your plan when refinance volume is cut in half?
Anyone who read the Mortgage Bankers Association’s recent 2021 forecast knows that refinance volume is soon to slow down. Purchase originations are expected to grow 8.5% to a new record of $1.54 trillion in 2021. Refinance originations are predicted to
Better.com snags $200 million in series D funding for $4 billion valuation
Online mortgage lender Better.com revealed it raised $200 million in a series D financing that put the New York-based startup at a $4 billion valuation, according to an internal memo reviewed by Bloomberg. The Monday news of Better’s new funding