In recent months, when interest rates have declined even slightly, loan applications have jumped, indicating that potential borrowers are keeping a close eye on interest rates. There could also be some relief on affordability as the inventory of homes for sale increased in February.
Cyberattack will cost loanDepot at least $12 million; average borrower has nearly $300,000 in home equity; home prices overvalued across the country; MSR gain some value; new servicing platform from Sagent; MCT offers TBA pricing indicators; lender launches real estate platform.
Proceeds from the recent issuance have largely gone toward paying down the companies’ debt issuance from 2021 when they needed funds for their refi business.
Although almost all of the cost of funding a loan through MBS is passed through to consumers, borrowers only see about 40% of the “cost” of a specified pool pay-up.
Lenders cut more staff; rate locks up 14% in January; borrowers have plenty of equity; bill to limit trigger leads in House; LoanCare revamps servicing website; Staircase launches ChatMTG.
Below contract appraisals in majority Black census tracts are much less likely to receive time adjustments than those in majority white tracts, according to new research from FHFA.
Lenders need specific plans for outreach to borrowers that are Black, indigenous and people of color, according to industry participants. Focusing on the borrowers can be difficult but will pay off, the industry participants added.
A mortgage application in which both members are male is 8.9% less likely to be approved than if the co-applicants were of different sexes, according to new research.
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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