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10 Origination Abbreviations Every Mortgage Pro Must Know
National Mortgage News, Mar. 13, 2018--Brad Finkelstein (subscription)Loan originations in 2018 are projected to be around $1.6 trillion, according to the Mortgage Bankers Association, or $1.7 trillion, according to Fannie Mae and Freddie Mac. That is not a small number.
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New Home Mortgage Applications Rise Again
Scotsman Guide, Mar. 13, 2018--Victor WhitmanMortgage applications for new homes rose again in February after posting a strong pace to begin the year, the Mortgage Bankers Association reported.
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Real Estate Economist: Home Prices are Increasing Twice as Fast as Income Growth
CNBC, Mar. 13, 2018--Matthew J. BelvedereNot enough for-sale signs in front yards are driving residential home prices higher, the chief economist at the Mortgage Bankers Association said Tuesday. Compounding the problem is that Americans' wage growth is being left far behind, according to the MBA's Mike Fratantoni.
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Zillow: Higher Mortgage Rates Could Threaten Affordability
National Mortgage Professional, Mar. 13, 2018--Phil HallThe rise in mortgage rates could trigger a further evaporation of affordable homeownership options, according to a new data analysis from Zillow.
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Ten Years After the Bear Stearns Bailout, Nobody Thinks It Would Happen Again
Wall Street Journal, Mar. 13, 2018--Justin Baer, Ryan Tracy (subscription)Ten years ago Wednesday, that was Bear Stearns Cos., a once-storied firm whose excessive leverage had helped put it on the brink. The Federal Reserve tried to limit the damage with extraordinary actions, first extending the firm credit before forcing it into a hasty weekend shotgun marriage to JPMorgan.
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Big Bank Influence Grows: The Clearing House Association Merging with Financial Services Roundtable
HousingWire, Mar. 13, 2018--Ben LaneThe Financial Services Roundtable and The Clearing House Association are merging, the two groups announced Tuesday. Both groups boast the nation's largest groups among their members.
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Brokers Drive Up Banks’ Mortgage Market Share
Mortgage Daily, Mar. 13, 2018Non-banks lost quarterly market share to financial institutions as a surge in quarterly wholesale lending drove up banks' share, said Callahan & Associates.
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FICO’s Lock on Mortgage Credit Scores Comes Under Fire
Wall Street Journal, Mar. 14, 2018--AnnaMaria Andriotis, Lalita Clozel (subscription)Lawmakers last week proposed adding a provision to a bank-deregulation bill that would require mortgage-finance giants Fannie Mae and Freddie Mac to consider credit scores beyond Fair Isaac Corp.'s FICO score for determining a mortgage applicant's creditworthiness. Fannie and Freddie backed nearly half of all U.S. mortgage dollars originated in 2017, according to Inside Mortgage Finance.
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Reverse Mortgage Securities Market Booming–for Now
DS News, Mar. 13, 2018--David WhartonAccording to New View Advisors, a financial services advisory firm, issuers of home-equity conversion mortgage-backed securities sold 129 pools in February, totaling $1.47 billion. That made for the second-highest month on record.
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Dart Appraisal Acquires Valuation Management Group
HousingWire, Mar. 13, 2018--Ben LaneAccording to the companies, the majority of the VMG team is set to join Dart Appraisal, and the combined company plans to maintain an office location in the Atlanta area. Michael Dresden, president of Dart Appraisal, said that the deal will allow Dart to offer more services to more clients.
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Huge Reperforming GSE Loan Offering
Mortgage Daily, Mar. 13, 2018The proposed loan sale is for 9,400 Fannie Mae loans with a collective unpaid principal balance of $1.97 billion.
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MBA Education/MISMO eMortgages Webinar Series Continues Mar. 15
MBA Education and MISMO present its popular eMortgages Webinar series with a webinar beginning Thursday, Mar. 15 from noon-1:30 p.m. ET. Save 40% when you register for the entire series.
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