Down Payment Resource, Atlanta, said its analysis of mortgage loan applications found nearly one-third of declined mortgage loan applications are both declined for reasons that can be addressed with homebuyer assistance and eligible for homebuyer assistance programs.
Category: News and Trends
Multifamily Posts Broad Gains; Asking Rents Top $2,000
Multifamily performance continued its strong run in May, reported Yardi Matrix, Santa Barbara, Calif. In a separate report, Redfin, Seattle, said median monthly asking rents topped $2,000 for the first time.
Dealmaker: BWE Closes $104 Million in Multifamily
Bellwether Enterprise Real Estate Capital LLC, Cleveland, Ohio, closed $104 million in loans for two apartment properties comprising 477 luxury units in Chicago and Yulee, Fla.
Jobless Claims at 5-Month High
Initial claims for unemployment insurance jumped last week to their highest level since January, but remain near post-pandemic lows, the Labor Department reported Thursday.
Matthew Covi of Chimney: Is Homeownership Still the American Dream?
Buying (and now owning) a home can be a challenging endeavor. Our journey started with a year-long search for the right home. We then went through a stressful six-month renovation. And as sticker shock set in, we ended up needing to take out a HELOC to pull it all off. It was by far the biggest investment I’ve made in my life so, of course, the experience had its ups and downs. Now we’re living in our dream (starter) home as we await the arrival of our little girl, and I’ll let you in on a secret. It was all worth it.
Mortgage Credit Availability Falls 3rd Straight Month
Mortgage credit availability fell for the third straight month in May to its lowest level since last July, hamstrung by tightening in mortgage refinance loans, the Mortgage Bankers Association reported Thursday.
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“While renting has become more expensive, it is now more attractive than buying for many Americans this year as mortgage payments have surpassed rents on many homes.”
–Redfin deputy chief economist Taylor Marr.
FHFA, GSEs Detail Equitable Housing Finance Plans
The Federal Housing Finance Agency on Wednesday offered details of the government-sponsored enterprises’ Equitable Housing Finance Plans for 2022-2024.
Tim Nguyen of BeSmartee: So Many Fintechs, So Little Time–Strategic VOIE Automation
As fintechs explode into the mortgage industry, how do lenders know which digital solutions are best for them?
MBA Opens Doors Foundation Receives $94,000 from Lennar Mortgage’s Annual Derby Fundraising Campaign
The MBA Opens Doors Foundation received $94,192 from Lennar Mortgage’s 9th Annual Derby. This gift will allow Opens Doors to further deliver on its mission of providing mortgage and rental assistance to families with critically ill or injured children, allowing parents and guardians to be by a child’s side during treatment without fear of losing their home.