Having hit a rocky patch during the pandemic, Impac Mortgage will be late in reporting first-quarter results and it’s selling most of its MSRs. What’s next?
The share of first-time homebuyers leaning on downpayment assistance for mortgages increased in 2019, according to a survey by the National Association of Realtors.
Digital mortgage closings are getting renewed attention with the industry forced into social distancing to contain the coronavirus. Remote online notarization can help, though it’s not allowed in all states yet.
Credit unions tend to offer mortgages with lower interest rates than other lenders. However, their share of originations is relatively low and the gap between them and banks in terms of interest rates has narrowed.
Prior to the 2008 housing crisis, the supply of new housing units dipped below 1.25 million only once, in 1982. Following the crisis, the supply didn’t rise above 1.25 million until 2017.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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