People who invest in technology often ask the question: is this a “nice to have,” or a “need to have?” Few have the resources to invest in technologies they don’t need. Often, this analysis comes down to the worst case scenario. “What’s the worst that can happen if we don’t invest in this technology?” When […more]
Home prices have started to drop, but the decline has not been significant enough to slow a growing pessimism about the housing market. Fannie Mae’s Home Purchase Sentiment Index (HPSI), which tracks the housing market and consumer confidence to sell or buy a home, dropped by 0.8 points in August to 62, marking its sixth […more]
With purchase demand for existing homes across the nation having already dropped over 20 percent and the pace of new home sales down nearly 30 percent, year-over-year, driven by a jump in mortgage rates that shouldn’t have caught any plugged-in readers by surprise, the average rate for a benchmark 30-year mortgage climbed another 23 basis […more]
We are so excited to connect with you all in just a few short weeks. HousingWire Annual will be hosted in Scottsdale, A.Z, Oct. 3-5 at the Fairmont Princess Resort. The beautiful resort features several picturesque pools, delicious restaurants and bars, easy access to outdoor activities like golf and relaxing amenities. Plus, it will be […more]
Mortgage rates rose 23 basis points this week, even closer to the 6% mark, as the market reacts to the Fed’s ongoing aggressive policies to combat persistent inflation. According to the latest survey from Freddie Mac, the 30-year fixed-rate mortgage rose to an average of 5.89%, up from last week’s 5.66%. A year ago this time, […more]
A coalition of 21 affordable housing groups on Wednesday said Fannie Mae and Freddie Mac made important improvements to their plans to offer housing financing in underserved markets, but still have a ways to go. The Underserved Mortgage Markets Coalition, which includes the Center for Community Progress, the National Housing Conference, the National Council of State Housing […more]
Bank of America recently announced a loan for lower-income households that doesn’t require homebuyers to come up with a downpayment or closing costs, and doesn’t base the loan on a minimum FICO score. People’s first reaction was to wonder if this was 2008 all over again. Are we really doing those types of loans and […more]
Verification provider Xactus and income and employment data solution firm Truv teamed up to court more mortgage lenders that will speed up the mortgage approval process. Xacuts’ current verification capabilities will be augmented with Truv’s income and employment data, Truv, formerly known as Citadel API, said. The firm expects the partnership to allow mortgage lenders […more]
Cleveland-based KeyBank, a mortgage lender and servicer with $187 billion in assets, is facing a lawsuit filed in federal court in Ohio stemming from a recent data breach that compromised its customers personal information, including social security numbers. The litigation, which seeks class-action status, alleges that a KeyBank vendor, Kennesaw, Georgia-based Overby-Seawell Co. (OSC), was the target of […more]
Fiercer competition in the wholesale channel spurred United Wholesale Mortgage (UWM) to increase the ceiling on conforming loans on Wednesday, ahead of the Federal Housing Finance Agency’s (FHFA) decision in November. UWM’s move follows an announcement on Tuesday from competitor Rocket Pro TPO, which was first out of the gate this year in raising loan […more]