The Lede
Top National News
For Homebuilders, ‘the Next Few Months are Big’
CNBC, Mar. 14, 2019--Diana OlickMortgage applications to purchase a home, however, are basically flat compared with a year ago, according to the Mortgage Bankers Association.
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FHA Eases Home Warranty Requirement for Low Down Payment Loans
National Mortgage News, Mar. 14, 2019--Bonnie Sinnock (subscription)The Federal Housing Administration is moving forward with a long-delayed plan to reduce the term of the home warranty required for high loan-to-value mortgages on new houses.
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Am I Accidentally Committing Mortgage Fraud?
The Mortgage Reports, Mar. 14, 2019--Peter MillerUnintentional mortgage fraud may seem impossible, but financial criminals can be cunning. They don't come out and announce their illegal acts. Instead, they work diligently to confuse and compromise both lenders and borrowers.
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Lenders Continue to Lower FICO Requirements for New Homebuyers
HousingWire, Mar. 14, 2019--Jacob GaffneyThe nation's major banks are continuing to walk away from FHA-backed mortgages, according to the Urban Institute's Housing Finance Policy Center February Chartbook.
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Multifamily and CRE Loan Debt Sees Largest Rise Since Housing Bubble
National Mortgage News, Mar. 14, 2019--Paul Centopani (free article)Commercial and multifamily mortgage debt outstanding grew 6.8% in 2018, benefiting from strong employment numbers and strained inventory, according to the Mortgage Bankers Association.
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Mortgage Applications for New Home Purchases Jumped 6% in February
Mortgage Orb, Mar. 14, 2019--Patrick BarnardApplications for mortgages for new home purchases increased 6% in February compared with January and were up 3% compared with February 2018, according to the Mortgage Bankers Association's Builder Application Survey.
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Acquisition Provides Mortgage Lender Entree into Digital Banking
American Banker, Mar. 14, 2019--Will Hernandez (subscription)Gateway Mortgage Group recently bought Farmers Exchange Bank in Cherokee, Okla., and plans to rebrand it Gateway First Bank. The $314 million-asset bank will be the backbone for a digital-only bank that Gateway is scheduled to open this summer.
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Client Gets New Mortgage After Failing to Pay 2nd for Eight Years
Orange County Register, Mar. 14, 2019--Jeff LazersonAssuming a borrower gets the average 30-year fixed rate on a conforming $484,350 loan, last year's payment was $37 higher than this week's payment of $2,400.
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Residential Finance News
Commercial/Multifamily News
MBA News
Make the Most of Your MBA Membership: Special Focus on Loan Servicing Webinar Mar. 22
The Mortgage Bankers Association invites you to participate in a Mar. 22 webinar focused on loan servicing.
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