Some of the best performing stocks in America this year are from large, national homebuilders – strong consumer demand, limited competition from the existing home sales market, and an improving supply chain have boosted their outlooks. On Monday, homebuilder confidence moved into positive territory for the first time in nearly a
CrossCountry Mortgage (CCM), the nation’s third-largest retail mortgage lender, unveiled its latest initiative this week that is aimed at helping first-time homebuyers overcome the financial hurdles of purchasing a home in today’s competitive housing market. The CCM Smart Start program will provide eligible individuals with up to $4,000 in down
High mortgage rates, economic uncertainty and low housing inventory did very little to help title premium volume during the first quarter of 2023. In the first three months of the year, the title industry generated $3.37 billion in title insurance premiums, down 43% year over year, according to the American Land
Rep. Maxine Waters (D-Calif.), the ranking member of the U.S. House of Representatives Financial Services Committee, reintroduced this week three pieces of proposed legislation to bolster affordable housing investments, expand the housing choice voucher program and provide billions of dollars in assistance for first-time, first-generation homebuyers. “Together, these bills represent
The Federal Housing Finance Agency (FHFA) announced late last year that it is replacing the Classic FICO credit model used by Fannie Mae and Freddie Mac with the FICO 10T and the VantageScore 4.0 credit score models and outlined the timeline for implementation. But a coalition of 17 associations, led
The days on market are back to a teenager level in the existing home sales market, which means I can officially say we are back to a savagely unhealthy housing market! Just when I thought I was out, they pull me back in. One of the critical data lines I track
On June 1, Arizona-headquartered retail lender AmeriFirst Financial Inc. relaunched its forward mortgage originations. It ceased that business in December 2022 after rising mortgage rates wreaked havoc on the housing industry. Eric Bowlby, CEO at AmeriFirst Financial, told HousingWire that about 50 operations staff have joined the company from other
Wholesale mortgage lender The Loan Store (TLS) announced on Thursday the roll-out of its new home equity line of credit (HELOC) product, which is currently available in 25 states and Washington, D.C. The Loan Store’s HELOC product is a standalone, fixed-rate line of credit that allows borrowers to tap into
Connecticut-based lender and servicer Planet Home Lending announced on Thursday a deal that boosts its servicing portfolio, which the company claims is already above the $90 billion mark. Planet has acquired a $10 billion mortgage servicing rights (MSR) bulk of Ginnie Mae loans from Village Capital & Investment LLC. and anticipated that
A coalition of trade associations — the Community Home Lenders of America (CHLA), the Community Association Institute (CAI) and the National Association of Realtors (NAR) — have submitted a letter to the Federal Housing Finance Agency (FHFA) that requests transparency in the development of final lending requirement guidelines for condominium
Mortgage rates declined again this week following the Federal Reserve‘s recent pause on monetary tightening. However, rates on home loans remain at elevated levels compared to last year and that pause looks temporary. The Freddie Mac’s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the
Consumers in the Southern region of the nation tend to face increased difficulties with accessing credit and pay higher interest rates compared to other regions, according to new reports from the Consumer Financial Protection Bureau (CFPB). This also applies to mortgage financing, despite Southern residents applying for mortgage loans at
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