Fidelity posts strong performance in 2022 despite headwinds
Despite a 36% year-over-year decline in closed title purchase order volume and a 79% decline in the number of closed refinance orders compared to the fourth quarter of 2021, Fidelity National Financial Still managed to record a strong Q4 in 2022. Fidelity CEO Mike Nolan told investors during the firm’s fourth-quarter earnings call in mid-morning […]
10 things to consider before buying a home next to a school
in this article Finding a suitable property can be challenging, especially if a potential homeowner has specific criteria for what to look for in a home, neighborhood or new city. Sometimes the best prospects may be located near a school, which can be a boon for some — especially those with children or college goers […]
Mortgage demand falls again as mortgage rates climb near 7%
It’s proving to be a brutal February for the mortgage industry, with mortgage demand falling for the third time in four weeks. At a time when buying activity typically increases, the latest mortgage application data is showing that mortgage demand is falling as mortgage rates climb back up. Mortgage applications decreased by 13.3% for the […]
Mortgage rates have sent the housing industry on a roller coaster
The mortgage industry has been on a roller coaster ride this year due to a resilient economy. In the span of a month, mortgage rates rose nearly 7% after hitting a low of 6%. “The economy continues to show strength, and interest rates are turning to the threat of stronger-than-expected growth, a tight labor market […]
FHA commissioner Julia Gordon talks MIP reductions
More than two years later, mortgage industry trade groups began openly calling Federal Housing Administration (FHA) That’s exactly what the Biden administration and the FHA have done, in order to cut annual premiums on mortgages insured by the agency. They have reduced the annual premium from 85 bps to 55 basis points. In doing so, […]
5 reasons to strengthen relationships with real estate professionals
The pledging process involves many moving pieces and relationships with various stakeholders. The relationship between a loan officer and a real estate agent is one of the most important pieces of the puzzle, as the two must combine forces to help borrowers achieve their goal of purchasing a home. Ideally, a strong relationship between the […]
Freddie Mac delays 2022 Q4 results by a week
A week after canceling its quarterly earnings results without explanation, Freddie Mac disclosed a fourth-quarter net profit of $1.76 billion on Wednesday. The figure was a sequential gain on the $1.3 billion in net income reported in the third quarter of 2022, although it represented a 36% decline from a year earlier. Officials at the […]
Wells Fargo makes another layoff in home lending business
Wells FargoLargest depository mortgage lender in the US, The correspondent channel on Tuesday issued pink slips to employees in its home lending business following its decision to exit. “I can’t provide any specifics, but we announced strategic plans in January to create a more focused home lending business,” Tom Goyda, senior vice president of consumer […]
New American Funding Names Co-CEO and President
California Lender new american funding has promoted Patty Arriello to CEO, becoming co-CEO with her husband Rick. Christy Bunce will replace Arriello as president. “Patty Arriello served as the company’s president before being promoted to the position of co-CEO, but has always conducted herself as co-CEO for NAF because of her high level of involvement […]
APM Makes Leadership Change While Continuing Eye Expansion
California based retail lender american pacific mortgage (APM) has made a leadership change while continuing to expand in the Midwest and Southeast. Bill Lowman was named Vice Chairman of APM, a newly created position, while Ned Payment was promoted from President of APM to Chief Executive Officer. Dustin Shepard also rose from executive vice president […]
