Chairman Mat Ishbia suggests those calling for cost reductions and layoffs at United Wholesale Mortgage don’t understand the lender; impact of Biden administration’s housing plan expected to be “limited;” mortgage costs soaring.
Purchase-mortgage lending expected to increase; tips on remaining profitable amid rising interest rates; Texas Capital Bank slashes projections for warehouse lending; mixed trends for closing costs; Optimal Blue offers benchmark pricing tool for third-party originations; Comcast venture group invests in Neat Capital; MISMO’s e-Eligibility Exchange.
Private mortgage insurers gained share in the primary MI market in the first quarter of 2022, helped by purchase-mortgage activity. VA loans accounted for the majority of refis with primary MI during the period. (Includes two data charts.)
Home prices have come untethered from rent, which could be a sign of “irrational exuberance,” according to economists from the Federal Reserve Bank of Dallas.
The lack of purchase-mortgage lending activity in Detroit contributes to low home values, deteriorating housing stock and high rates of residential property vacancies, according to a new study from Detroit Future City.
The reason: Single female borrowers are generally less affluent than single male borrowers, have lower incomes and take out smaller loans, according to researchers at the Urban Institute.
Analysts at Fannie Mae looked at 14 components that go into the cost of purchasing a home, along with ongoing expenses. Costs related to the mortgage accounted for roughly 30% of the overall cost.