Mortgage Loan News

How APRA caps could impact how much Australians can borrow

Consumer advocate RateCity.com.au welcomes news APRA is considering changes to address growing risk in the Australian home loan market. The Council of Financial Regulators today announced that APRA will examine possible macroprudential policy responses to address the medium-term risk created as a result of soaring loan amounts. Although the regulator …

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LoanDepot lawsuit alleges large-scale fraud – NMP

The nation’s second-largest mortgage lender, LoanDepot, found itself in deep water last week when accusations by the company’s former COO, Tammy Richards, surfaced on Wednesday, revealing that the founder and CEO Anthony Hsieh had encouraged his sales team to cut corners on taking out loans in order to raise money …

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7 questions to ask a mortgage broker

Part of a mortgage broker’s job is to be asked questions. You’re their guide to buying the most expensive thing they’ll likely ever own, so asking lots of questions is definitely something that should be encouraged. In addition, there are no stupid questions to ask a mortgage broker: on the …

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MFA offers lucrative funding in targeted areas

The New Mexico Mortgage Financing Authority is best known for providing mortgage loans and down payment assistance to first-time homebuyers. However, they do much more than that. In addition to also providing tax credits and financing for the development of affordable rental housing, they also offer special financing to buyers …

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UWM Launches ‘BOLT’, Giving Mortgage Brokers the Tools to Get 15-Minute Initial Approval | Business

PONTIAC, Michigan – (BUSINESS WIRE) – Sep 25, 2021– United Wholesale Mortgage (UWM), America’s premier wholesale and buying lender, today announced the launch of BOLT, a self-service platform that provides initial approval for qualified borrowers in only 15 minutes. Mat Ishbia, President and CEO of UWM, made the announcement today …

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What is an energy efficient mortgage?

Living in an energy efficient home is desirable for many reasons. Not only are energy efficient homeowners taking steps to live more … Living in an energy efficient home is desirable for many reasons. Not only are energy efficient homeowners taking steps to live more sustainably, they are also saving …

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Pembrook Provides $ 15.35 Million First Mortgage to Acquire and Renovate Parkwood Apartments in Los Angeles County

Pembrook Capital has provided an initial mortgage loan of $ 15.35 million for the acquisition of Parkwood Apartments, a 90-unit multi-family building in Lancaster, California. Pembrook Capital Management LLC (Pembrook), one of the nation’s leading bridge lenders for affordable housing, has provided an initial mortgage loan of $ 15.35 million …

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Van Hollen and colleagues introduce legislation to help first-generation homebuyers and close the racial wealth gap

September 22, 2021 Homeownership is the primary means for middle class families to build wealth and achieve economic stability; New LIFT program will help first-generation homebuyers build equity and wealth at twice the rate of a conventional 30-year mortgage Today, U.S. Senators Chris Van Hollen (D-Md.), Mark R. Warner (D-Va.), …

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PennyMac Expands Use of ICE Mortgage Technology Suite with Encompass Investor Connect to Accelerate Correspondent Digitization | Business

PLEASANTON, Calif .– (BUSINESS WIRE) – September 22, 2021– ICE TM Mortgage Technology, part of Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, today announced its latest partnership with PennyMac Loan Services LLC, a subsidiary of PennyMac Financial Services, Inc. (NYSE: PFSI). Integration …

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Impac Mortgage Holdings, Inc. Announces Appointments of Obi Nwokorie and Joseph Piscina to Board of Directors

IRVINE, Calif .– (COMMERCIAL THREAD) – Impac Mortgage Holdings, Inc. (NYSE American: IMH) (the “Company” or “Impac”), today announced that Obi Nwokorie and Joseph Piscina have been appointed to the Board of Directors of the Company, effective September 17, 2021, bringing the total number of directors to six. Earlier in …

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Nuula CEO sees super-app that unites banks

Fintechs have gained momentum by unbundling old-fashioned banking and financial services – money transfers, for example – and building entire businesses around separate functions. That’s what spawned Zelle, Venmo, and other popular financial apps that are now household names. In the second phase of the digital shift, disintermediation is reintegrated, …

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Florida Reverse Mortgage Refinance: HECM to HECM Refinances Now Offered by Florida’s Best Reverse Mortgage Company

TAMPA, FL, UNITED STATES, September 20, 2021 /EINPresswire.com/ – Thinking of refinancing a reverse mortgage? Unprecedented equity gains over the past several years have placed many current reverse mortgage holders in an advantageous position. By announcing a full range of reverse mortgage refinance products, Florida’s Best Reverse Mortgage Company aims …

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Deferral of payment: a simple response to post-abstention

Throughout the pandemic, forbearance plans played an important role in providing mortgage relief to homeowners as they faced challenges related to COVID-19 impacting their finances. These include job loss, declining income and illness. But what should owners do after the forbearance ends? A new home retention solution, COVID-19 payment deferral, …

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Black Knight: Mortgage Monitor July 2021

Driven by the booming housing market, exploitable equity – the amount available to homeowners before reaching a maximum combined loan-to-value ratio (CLTV) of 80% – has jumped almost 40% from the previous year. ‘last year. At $ 9.1 trillion in total – yet another record high – the average mortgage …

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Home loans drive up household debt

U.S. household debt grew at the fastest rate since 2013 in the second quarter, driven by a mortgage boom as Americans took advantage of low borrowing costs and sought more space to work from home. Household liabilities soared $ 313 billion to $ 14.96 billion at the end of June, …

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Better Launches Better Appraisal Guarantee ™, To Make Buying A Home Easier, More Accessible And Inclusive For All Homebuyers | Business

NEW YORK – (BUSINESS WIRE) – July 14, 2021– Better, one of the fastest growing digital homeowners in the United States, today announced the launch of Better Appraisal Guarantee, enabling mortgage applicants and buyers potentials to forgo their evaluation contingencies and compete more effectively with cash offers. Qualified buyers who …

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Abstention plans continue to decline

The latest Mortgage Bankers Association (MBA) forbearance and call volume survey as of July 4, 2021 found that the total number of loans currently in forbearance fell 11 basis points from 3.87% the volume of the agent portfolio the previous week to 3.76%. . The MBA estimates that approximately 1.9 …

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Mortgage Monitor: Defaults Improve, Cost of Homeownership Rises

Homeownership is getting more expensive, severe defaults are high but improving, borrowers still use forbearance plans, foreclosures are tiny, and homeowner households collectively have billions of dollars in exploitable net worth. Everything is detailed in Black Knight’s monthly Mortgage Monitor data and analysis team, which examines a variety of issues …

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SHAREHOLDER ALERT: Law Firm Pomerantz Reminds Shareholders Who Have Suffered Losses on Their Investment in Home Point Capital Inc. of Class Action and Upcoming Deadline

New York, New York – (Newsfile Corp. – June 26, 2021) – Pomerantz LLP announces that a class action lawsuit has been filed against Home Point Capital Inc. (“Home Point” or the “Company”) (NASDAQ: HMPT) and some of its leaders. The class action lawsuit, filed in the United States District …

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Mortgage rates could increase from 2022

It looks like the era of record interest rates is soon over, as economists at the Commonwealth Bank predict that the Reserve Bank of Australia could raise the spot rate as early as 2022. The spot rate has been held at 0.10% since November of last year, with the last …

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Pomerantz Law Firm Announces Class Action Filing Against Home Point Capital Inc. and Certain Executives – HMPT | national news

NEW YORK, June 21, 2021 / PRNewswire / – Pomerantz LLP announces that a class action lawsuit has been filed against Home Point Capital Inc. (“Home Point” or the “Company”) (NASDAQ: HMPT) and certain of its officers. The class action, filed in United States District Court of the Eastern District …

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FHA makes home ownership easier for debt borrowers

The Federal Housing Administration has lowered a relatively high bar he had previously secured for purchase mortgage borrowers with income-based repayment plans for student debt. On Thursday, the FHA announced that in the future, it will calculate the monthly obligations of those with deferred income-adjusted payments based on 0.5% of …

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Morgan Stanley Launches $ 317 Million Residential MBS

A pool of 344 residential mortgages will secure a $ 317 million mortgage-backed securities deal from the Morgan Stanley Residential Mortgage Loan Trust, 2021-3. The pool consists of blue chip, jumbo, compliant and non-compliant loans, all of which have been designated as qualifying mortgages. Morgan Stanley will act as loan …

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LendingTree Survey Finds Americans Spend More on Mother’s Day than Father’s Day; Dads prefer quality time to gifts

CHARLOTTE, North Carolina, June 17, 2021 / PRNewswire / – LendingTree®, the country’s leading online lending market, released its investigation surrounding Father’s Day gifts and the role American fathers play in financial decision-making. The survey found that most fathers want quality time with their families. This frugality may help explain …

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Granite Point Mortgage Trust Inc.Announces Second Quarter 2021 Common Share Dividend and Business Update

NEW YORK, June 15, 2021– (BUSINESS WIRE) –Granite Point Mortgage Trust Inc. (NYSE: GPMT) (“GPMT”, “Granite Point” or the “Company”) announced today that the Board of Directors of the Company has declared a quarterly cash dividend of $ 0.25 per common share for the second quarter of 2021. This dividend …

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The forbearance output volume continues to increase

The share of US homeowners at some stage of forbearance continues to decline nationally, falling to 4.04% of all mortgages according to the latest Mortgage Bankers forbearance and call volume survey Association (MBA). That total is down from last week’s share, when abstentions accounted for 4.16% of all mortgage volume. …

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Arvest Bank makes promotions

Arvest Bank recently did two promotions in the Twin Lakes area. Karolyn Ziemer has been promoted to Mortgage Manager for North Central Arkansas. Ziemer joined Arvest as a Mortgage Lender in 2004 and also served as Supervisor of Mortgage Lenders. In his new role, Ziemer will lead the mortgage division …

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Mortgage and real estate news this week

Bankrate follows a strict editorial policy, so you can be sure that we put your interests first. Our award-winning editors and journalists create honest, accurate content to help you make the right financial decisions. The key principles We appreciate your trust. Our mission is to provide readers with accurate and …

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Lenders Expect Refi to Pull Out to Cut Profits

Lenders don’t take the refinancing boom for granted. Fannie Mae’s second quarter mortgage lender sentiment survey found that most respondents do not expect business, and therefore profits, to stay at current levels. Sixty-nine percent said profit margins would decline over the next three months, 19% expect them to stay the …

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GKCU Welcomes New Employees | New

GKCU is pleased to announce recent staff promotions to serve our members. Melissa Poindexter has been appointed director of training and development for the credit union. In his role, Poindexter is responsible for the training and onboarding of all new hires, as well as the continuing education and development of …

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