The homeownership rate hit a six-year high at the end of last year, with low interest rates helping homebuyers even as prices increased at a steady pace. Low inventory of homes for sale could lead to affordability issues this year.
Policymakers should focus on making origination and servicing attractive to banks and nonbanks alike instead of adopting additional standards that apply to non-depositories, the Mortgage Bankers Association says.
Lenders can take a number of steps to help ensure that borrowers are satisfied with the origination process, making them more likely to recommend the lender to friends and family.
Velocity Financial went public on Friday, a somewhat rare event for a nonbank lender and an even rarer happening for a nonprime shop. That said, are more deals on the way?
The Golden State had the largest volume of purchase loans sold to Fannie, Freddie and Ginnie, but it lagged other states in growth rates. (Includes two data charts.)
When it comes to mortgage-related M&A, 2019 was a bust, right? Well, not exactly. As for 2020, company sales will hinge on rates and loan production. Will weaker players be forced to exit?
No rate hikes in 2020? A totally “neutral” Fed? We’ll see about that. Meanwhile, non-QM lenders Angel Oak Mortgage Solutions and Citadel Servicing have bulls in their eyes.
Purchase-mortgage production is seen steady while refi activity is expected to decline. Low refi demand will cut into lenders’ profit margins. (Includes data chart.)
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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