The mortgage market is shifting, and AIME’s Jonathon Haddad says it’s time for brokers to embrace a mindset of opportunity. With new tech and market trends, there’s a huge chance to grow and succeed!https://t.co/tplyUM1UDD — Mortgage Professional America Magazine (@MPAMagazineUS) September 16, 2024 “Everybody that’s not a direct-to-consumer shop hates trigger leads. That’s why there’s … [Read more…]
“It’s not as if profits have shot through the roof and investors are riding a new wave of good times,” ATTOM chief executive Rob Barber said in the report. “Far from it, as they continue to struggle to benefit from the broader market boom. But the second-quarter numbers did show another step in the right … [Read more…]
Mortgage-rate locks, which allow homebuyers to secure an interest rate for a set period, are generally a reliable indicator of purchase demand, with around 80% of rate locks leading to home purchases. “Most of the homes that are sitting on the market right now are second homes – especially those in the $400,000 to $800,000 … [Read more…]
Who are ITIN borrowers? An ITIN is issued by the IRS to individuals who need to pay taxes, but are not eligible for a Social Security number. Some may have entered the country legally but overstayed their visas, while others may have crossed borders illegally. Regardless of their immigration status, Senko notes that many of … [Read more…]
“While overall activity is significantly lower than the peaks seen during the 2008 financial crisis, when filings exceeded 300,000 per month, the current economic environment, coupled with rising interest rates and affordability challenges, suggests a continued focus on potential housing market instability,” Barber said in the report. Across the country, one in every 4,662 housing … [Read more…]
BrokerX will “take care of the training, coaching and licensing,” Ishbia explained, adding that once the program is completed, participants will be fully licensed and ready to originate loans, contributing to the “growth of the wholesale channel and help even more consumers across the country.” How BrokerX works Over the course of five weeks, participants … [Read more…]
Joe Abruzzo, who joins as executive vice president and head of regional commercial banking and corporate banking. Abruzzo brings nearly 40 years of experience in commercial, corporate, and private banking, having previously held leadership roles at JPMorgan, HSBC, and Santander. Rita Dailey, now executive vice president and head of commercial deposits and payment solutions, comes … [Read more…]
The tool arrives at a time when mortgage rates have dropped compared to last year, sparking renewed interest in refinancing. Refinance applications increased 1% from the previous week and were up 106% compared to the same week last year, according to the Mortgage Bankers Association. “With rates almost a full percentage point lower than a … [Read more…]
In a press release, the agency said it recognizes “the significant need to increase the supply of safe and quality affordable housing and is committed to fostering increased production and broader consumer acceptance of manufactured housing as a viable, affordable, and comparable alternative to a site-built home.” HUD’s new standards include a total of 90 … [Read more…]
“I would encourage him to, when he writes his rent check every month, look at what the delta is between his hypothetical new mortgage payment and what he’s paying for rent,” she said. By consciously putting that difference into savings, the client can gauge whether his budget could handle the increased cost without compromising his … [Read more…]