They’re now legal almost nationwide and they were boosted by the pandemic. But they’re still not the mainstream of closings. Here’s why they should be.
Category: News and Trends
Quote
“The ongoing affordability hit of higher home prices and fast-rising mortgage rates led to a slowdown in purchase applications in May. While the median principal and interest payment only increased $8 from April, a typical borrower is paying $514 more through the first five months of 2022 – a jump of 37.1%,. Inflationary pressures and rates above 5 percent are both headwinds for the housing market in the coming months.”
–Edward Seiler, MBA Associate Vice President of Housing Economics and Executive Director of the Research Institute for Housing America.
Share of Mortgage Loans in Forbearance Falls to 0.85%
Mortgage loans in forbearance fell to new post-pandemic lows in May, the Mortgage Bankers Association reported Tuesday.
Sponsored Content from SWBC: 2022 Property Appraisal Challenges; an Interview with Chuck Mureddu
Mortgage lenders are having a hard time sourcing affordable, prompt property appraisals. We discuss this challenge with SWBC’s Chief Valuation Officer, Chuck Mureddu.
Faith Schwartz of Housing Finance Strategies: Homeownership Month Focus on Policy Innovation to Up-Level the FTHB
The trend we address in this short narrative is the shrinking playing field for first-time homebuyers who are more and more being shut out of buying opportunities by institutional cash buyers and losing the attendant opportunity for the creation of generational wealth.
Sponsored Content from WFG: When it Comes to Operational Efficiency, Don’t Let ‘Perfect’ Get in the Way of ‘Better’
With refinances plummeting, it’s more important than ever for lenders to optimize profitability by finding ways to take time and cost out of the origination process.
MBA Weekly Survey June 22, 2022: Applications on a Winning Streak Despite Nearly 6% Interest Rates
After falling for more than a month, mortgage applications rose for the second week in a row, even as interest rates nearly reached 6 percent—the highest level since 2008, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending June 17.
Aaron Davis and Jonathan Kearns: Making the Case for Universal eClosings
They’re now legal almost nationwide and they were boosted by the pandemic. But they’re still not the mainstream of closings. Here’s why they should be.
Share of Mortgage Loans in Forbearance Falls to 0.85%
Mortgage loans in forbearance fell to new post-pandemic lows in May, the Mortgage Bankers Association reported Tuesday.
FHFA Re-Assures MBA, Trades’ Concerns over New GSE Credit Score Requirements
Following concerns expressed in a May 13 letter, the Federal Housing Finance Agency assured the Mortgage Bankers Association and other industry trade groups that industry stakeholders such as themselves would have sufficient time to implement necessary system and process changes that any updates to Fannie Mae and Freddie Mac’s credit score requirements would entail.