New home sales fell significantly in May–to the weakest pace since late 2023, the U.S. census Bureau reported yesterday.
Category: News and Trends
People in the News, June 28, 2024
Industry personnel news from Xactus, Embrace Home Loans, Planet Home Lending, WFG National Title Insurance Co. and Westcor Land Title Insurance.
(Sponsored) ACES Quality Management: Revenue Retention Requires Rigorous QC, Compliance Adherence
Learn how lenders are managing loan quality and maintaining compliance amid new Fannie Mae policies and compliance challenges.
Quote: June 28, 2024
“With rates moderating in June, purchase mortgage applications indicate that rate-sensitive buyers are hesitantly responding.”
–First American Deputy Chief Economist Odeta Kushi
MISMO Calls for Industry Professionals to Join New Artificial Intelligence Community of Practice
MISMO, the real estate finance industry’s standards organization, is inviting industry professionals to join a newly formed community of practice (CoP) focused on Artificial Intelligence (AI).
Mortgage Application Payments Decreased 1.6% in May to $2,219: MBA
Homebuyer affordability improved in May, with the national median payment applied for by purchase applicants decreasing to $2,219 from $2,256 in April. This is according to the Mortgage Bankers Association’s Purchase Applications Payment Index.
RealPage: U.S. Apartment Occupancy Rates Up in Most Markets
RealPage, Richardson, Texas, found most markets across the country are seeing month-over-month apartment occupancy improvements.
MBA: Mortgage Applications Increase in Latest Weekly Survey
Mortgage applications increased 0.8% from one week earlier, according to the Mortgage Bankers Association’s Weekly Applications Survey for the week ending June 21, 2024. This week’s results include an adjustment for the Juneteenth holiday.
MBA’s Broeksmit: Setting the Record Straight About MBA’s Advocacy on Credit Reporting Costs
Mortgage Bankers Association President & CEO Robert D. Broeksmit, CMB, weighed in Tuesday to set the record straight about credit reporting costs.
Mark Dangelo on AI for Mortgage: ‘Do or Do Not. There is No Try’
As AI moves from hype to layers of solutions all defined by data, the belief that using familiar approaches will create outsized results is a false narrative.