Rocket Homes has plans to start iBuying – and discount real estate. The Detroit-based company – and no. 1 mortgage lender in the U.S. by volume – fired off a 1,490-word press release Tuesday declaring its intention to “combine every aspect of home selling and buying into one simple, customizable
While the world might be slowly getting back to normal, the housing boom is far from over. With listing prices continuing to skyrocket, appraisers are still having to manage high demands. There’s also been an increase in the number of appraised values coming in below the purchase price. HousingWire recently
On-time rental payments will now factor in to Fannie Mae underwriting calculations, and missed rental payments won’t keep borrowers from getting a mortgage. The Federal Housing Finance Agency today announced that positive rental payment history will be taken into account in the government sponsored entity’s underwriting system. The change is
Mortgage applications increased 2.8% for the week ending Aug. 6, and there are signs that at least some first-time homebuyers are finding opportunities despite high home prices. Ten-year Treasury yields rose slightly at the end of last week after the July jobs report exceeded expectations. That was enough to drive
The Consumer Financial Protection Bureau (CFPB) is fulfilling its promise to scrutinize mortgage servicers, and some servicers are riding the forbearance exit wave better than others. In a new report, which drew on data from 16 mortgage servicers from December 2020 to April 2021, the CFPB found a marked increase
Senate Democrats this week unveiled a $3.5 trillion social infrastructure framework which would include down payment assistance, but little else to address challenges low-income and minority borrowers face in the housing market. The framework would set aside $332 billion for affordable housing. Senate Democrats hope to pass the legislation through
It had to happen eventually. For the first time since December 2019, purchase mortgages represented a higher percentage of closed mortgages than refinances. Purchase mortgages rose to 51% of closed mortgages in June, up from 47% in May, according to the latest origination report from ICE Mortgage Technology (formerly Ellie
Weeks after announcing a round of layoffs, wholesale lender Homepoint disclosed a $73 million net loss in the second quarter of 2021. Homepoint, based out of Ann Arbor, Michigan, originated $25.5 billion worth of mortgages in the second quarter, according to its quarterly earnings statement. That’s more than double what
Fintech lender Figure Technologies is going full force in to the mortgage lending – and now servicing – blockchain revolution. Just one week after its announcement that it would merge with lender Homebridge Financial Services, the company revealed a partnership with loan servicing software developer Sagent. According to the Tuesday
We were able to witness first-hand over the past 18 months that the demand for non-QM will remain high because there are always borrowers who cannot qualify for a mortgage loan without it. Self-employed who can’t use tax returns to qualify or Jumbo borrowers who don’t meet Prime guidelines can’t
Compass CEO Robert Reffkin Wait, is Compass on the right track? The New York City-headquartered residential brokerage lost money again in the second quarter. But its net loss of $7.1 million more than favorably compared to not just a deficit of $84.2 million in the second quarter of 2020 –
Once again, servicers’ forbearance portfolio volume fell — this time dipping seven basis points to 3.40% for the week ending Aug. 1, according to a survey from the Mortgage Bankers Association. Per MBA’s estimate, 1.7 million homeowners are still in forbearance plans. The share of Fannie Mae and Freddie Mac loans in forbearance also decreased, falling five
Meridian Listing Agent Kevin Harper Says Idaho Real Estate Market Stronger Than Many Expected
Lake & Town Realty Partners With Real Estate Portal Lakefront Living Realty LLC
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Ohio Investment Real Estate Broker Launches New Property Search Website
Zillow News Truth Delta: Opinion & Editorial