Existing home sales in May were slightly worse than in April
Existing home sales increased marginally in May but were still significantly lower than a year earlier, according to the latest report. National Association of Realtors (NAR). Total existing home sales rose 0.2% from April to a seasonally adjusted annual rate of 4.30 million in May. Year-on-year, sales fell 20.4% to 5.40 million in May 2022. […]
Southern residents pay more for mortgage, credit access: CFPB
Consumers in the southern region of the country face greater difficulties in obtaining credit and pay higher interest rates than in other regions. consumer financial protection bureau (CFPB). This also applies to mortgage financing, with Southern residents applying for mortgage loans at the same rates as the rest of the country. In the report “Consumer […]
The barbaric unhealthy housing market is back
I first used the term wild unhealthy in March of 2022 because we had solid demand while inventory was at an all time low. Both the credit channel and the inventory channel changed after 2010 due to qualified mortgage laws and the 2005 bankruptcy reform laws. That means you’ll see fewer financially stressed homeowners needing […]
FHFA housing, condo co-op lending guidelines need reform: trade group
a coalition of trade unions – the Community Home Lenders of America (CHLA), the Community Union Institute (CAI) and National Association of Realtors (NAR) – has submitted a letter to federal housing finance agency (FHFA) that requests transparency in the development of final lending requirement guidelines for condominiums and housing cooperatives. In the letter addressed […]
AmeriFirst Financial Returns to Forward Mortgage Origination
On June 1, the Arizona-headquartered retail lender Amerifirst Financial Inc. relaunched its forward mortgage origination. The business closed in December 2022 after rising mortgage rates wreaked havoc on the housing industry. out of 400 employees scooped by american pacific mortgage (APM) At the end of last year, about 20 LOs have returned to AmeriFirst Financial. […]
In acquisition mode, Planet completes $10B MSR deal
Connecticut-Based Lender and Servicer Planet Home Lending announced a deal on Thursday that bolsters its servicing portfolio, which the company claims is already above the $90 billion mark. Planet makes bulk acquisition of $10 billion Mortgage Servicing Rights (MSR) ginnie mae loan from Village Capital & Investment LLC, and anticipates that it will continue to […]
How The Homeowner Management Approach Creates A Moat Around Real Estate Businesses
It’s fair to say that almost everyone living in a home today has worked with a real estate professional to buy or mortgage their home. Historically, however, professionals let their clients go after a transaction is completed, rather than building a moat around the client that assures future transactions. The latest prop tech applications are […]
Is the Housing Meltdown Over?
The Builders Confidence Index came out yesterday and it has been all smiles lately, as builders believe they can sell more homes. Historically, the key level of builders’ confidence is 50: anything below 50 is bearish and anything above 50 is expansion. As you can see below, we broke above 50 yesterday as the index […]
Protecting homeowners from predatory business practices
June is National Homeowner Month. It’s a month when we celebrate the American dream of owning a home and reflect on the current challenges homeowners face today. Buying a home is one of life’s largest and most important investments, and it is important that homeowners are vigilant about protecting this investment. Especially during this National […]
Truist Appoints David Smith as Next Head of Mortgage Business
based in north carolina Truest Financial Corporation announced Tuesday that veteran mortgage executive David Smith would head its trust mortgage Effective July 31. Smith will replace the soon-to-retire Todd Chamberlain, who will assist with the transition. Smith, whose experience includes leadership roles in companies such as Keller Williams And CitiMortgageWill oversee the origination, fulfillment, servicing […]
