Christopher Bennett: 2020’s Unprecedented Growth Requires Counterintuitive Thinking

As COVID-19 continues to affect the mortgage industry, lenders are realizing that conducting business as usual may not be possible or plausible. For a lender’s growth to reach new and different heights in 2020, new and different business practices, such as working with a hedge advisory firm, are required.

Record Share of Homebuyers Make Sight-Unseen Offers

Redfin, Seattle, said nearly half (45%) of people who bought a home in the past year made an offer on a property that they hadn’t seen in person, the highest share since at least 2015.

Initial Claims Rise for 2nd Straight Week

After improving—relatively speaking—through most of the spring, initial claims backslid for the second consecutive week, the Labor Department reported yesterday.

2nd Quarter GDP Takes One to the Chin

We were warned that second quarter gross domestic product data was going to be bad. Even so, the numbers that came out yesterday were off the charts–literally.

Fed: No Change in Policy Anytime Soon

The Federal Open Market Committee yesterday said ongoing concerns about the coronavirus and the resulting economic stall means it will hold fast on its current policies.

Christopher Bennett: 2020’s Unprecedented Growth Requires Counterintuitive Thinking

As COVID-19 continues to affect the mortgage industry, lenders are realizing that conducting business as usual may not be possible or plausible. For a lender’s growth to reach new and different heights in 2020, new and different business practices, such as working with a hedge advisory firm, are required.

Chris Lewis: 3 Steps You Should Take Now to Get Ready for RON

Many of the industry’s efficiency experts have long argued that a digital mortgage can save all parties time and money. In the past, however, there were too many downstream issues that blocked the process from full-scale adoption. But with shelter in place, safer at home and social distancing all coming into play, the pandemic has led to a renewed push to get a completely digital mortgage as the new way to close all your loans.

Mortgage Applications Decrease in MBA Weekly Survey

Mortgage applications fell for the first time in four weeks, albeit slightly, as the 30-year fixed rate held at a record low, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending July 24.