Real Estate Broker/Agency News

Mortgage rates blow past industry predictions

Some mortgage rate indices topped 4% on Thursday, blowing past predictions that rates might reach those levels by the end of 2022. Economists had predicted rates would rise as the overall economy stabilized. The latest mortgage rate survey from Freddie Mac puts rates for the 30-year fixed-rate mortgage at 3.69%,

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Are refinance and agency volumes truly threatened in 2022?

It is possible to continue to increase your volume this year despite current challenges. We know that refinance volume is declining, Agency business will shrink and get more expensive and an increasing number of borrowers will not qualify under Agency guidelines. Non-QM is a solution for these challenges and these

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As the market shifts to purchase, LOs get creative

Maryland has over a dozen Eastern European stores that sell products like caviar, pumpernickel bread and salo, a Ukrainian-style bacon. Apart from selling produce that is popular in former Soviet countries, these stores represent a marketing opportunity for Alex Naumovych, a loan officer at Draper and Kramer Mortgage Corporation. Just

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Will rising interest rates impact VA loans for first-time homebuyers?

The VA loan is an important financing tool for VA-eligible borrowers to achieve their homeownership dream. In 2021 one in two VA borrowers was a first-time homebuyer (FTHB).  Last year, mortgage interest rates reached record lows. The average VA FTHB’s interest rate was 2.90% and the quarterly FTHB VA purchase loan volume stayed elevated. In Q3 2021, it reached a record level of over $19 billion for that quarter, $174 million

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Mr. Cooper, Sagent to jointly build cloud servicing platform

Mr. Cooper, one of the nation’s top servicers, and Sagent, a loan servicing software developer, announced on Friday that they will join forces to create a cloud-native servicing platform. The definitive agreement reached by both parties stipulates that Mr. Cooper will sell certain intellectual property rights related to its proprietary,

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