“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…]
The seasonally adjusted purchase index grew by 2% compared to the previous week. However, on an unadjusted basis, the index was down 10% compared to the previous week and 3% lower than the same time last year. “Purchase applications increased over the week and are edging closer to last year’s levels. Despite the drop in … [Read more…]
Amendola’s appointment followed a period of change at PMG, a company that began as Alterra Home Loans in 2007, focused on helping first-time Hispanic homebuyers. PMG has expanded its portfolio with several other mission-driven brands, including Legacy Home Loans and Vision Mortgage Group, each focusing on addressing the needs of underserved markets across the country. … [Read more…]
As a result, more seniors are considering reverse mortgages as a way to tap into their home equity and generate extra cash. Calamia explained that reverse mortgages allow homeowners to access a portion of their home’s value without having to make monthly payments, as long as they continue living in the home and covering insurance … [Read more…]
The revised guidelines are aimed at reducing antitrust concerns and fostering healthier competition, but some worry about the potential burden on first-time buyers or less experienced agents. “The following questions will help homebuyers and home sellers better understand the recent practice changes in residential real estate and what the changes mean for them,” NAR wrote … [Read more…]
loanDepot executive vice president John Bianchi commented: “Nancy is well known for her success building highly productive teams in the Colorado, Wyoming, Arizona, Utah and New Mexico markets. Equally important, she emphasizes her teams’ growth and development based on the core values of integrity, respect, and accountability, which perfectly align with our company culture. I … [Read more…]
To qualify for Refi75, mortgage brokers must meet certain criteria, including having a lender-paid compensation plan at or below 1.5%. If the general compensation plan is above 1.5%, then brokers can adjust the refi compensation plan in compensation settings via the EASE platform, even if they’ve been changed within the past 90 days. Read next: … [Read more…]
16.1% in large metro core counties 25.0% in large metro suburban counties 28.9% in small metro core counties 9.4% in large metro outlying counties 9.9% in small metro outlying areas 6.4% in micro counties 4.3% in non-metro/micro counties “The strength in single-family construction at the start of the year continued in higher density areas, matching … [Read more…]
Industry experts point to potential rate cuts by the Federal Reserve as a driving force behind the recent activity. Lenders appear to be pricing in these anticipated reductions, and market volatility may follow depending on the Fed’s decision. “We could see additional short-term market volatility as the Fed considers a 25 or 50 basis point … [Read more…]
OCMBC president Serene Vernon commented on the acquisition: “We are thrilled to welcome Wes Hunt and the entire HomeStar Financial team to the OCMBC family. Their extensive experience in servicing and their commitment to providing outstanding customer service align perfectly with our values at OCMBC. We look forward to achieving remarkable things together.” “HomeStar is … [Read more…]