Planet Financial Group partners with Farmlink Project

Planet Financial Group will donate $100,000 to a project that distributes food surplus to food banks. The donation will be made to The Farmlink Project, a nonprofit organization that aims to reduce carbon emissions and save millions of pounds of fresh produce by connecting farmers … Continue readingPlanet Financial Group partners with Farmlink Project

Fannie Mae chalks up another Credit Insurance Risk Transfer deal 

Fannie Mae has executed its fifth Credit Insurance Risk Transfer (CIRT) deal of 2022, providing up to $733.3 million in mortgage-risk coverage for the private market. The transaction, CIRT 2022-5 involved a covered loan pool of 67,700 single-family mortgages with a total unpaid principal balance … Continue readingFannie Mae chalks up another Credit Insurance Risk Transfer deal 

Five things to look for when partnering with a third-party review provider

The residential mortgage origination process is very complex and origination and underwriting mistakes can be very costly, so lenders need to make sure they’re mitigating every possible risk related to the borrower and property. That’s why due diligence is a critical element of every mortgage … Continue readingFive things to look for when partnering with a third-party review provider

How can brokers get ahead in a tight market?

HousingWire recently spoke with Jon Irvine, Chief Production Officer at Change Lending, about how brokers can gain a new competitive advantage in the current tight market. HousingWire: The current inventory shortage doesn’t seem like it will let up anytime soon. What challenges does this present … Continue readingHow can brokers get ahead in a tight market?

The housing industry will soon be up in ARMs

If there’s a bet to be made on the future of the non-agency lending space, it’s that the adjustable-rate mortgage (ARM) will become far more popular this year as purchase mortgages increasingly dominate a housing market pivoting to an up-rate environment. That’s the consensus forecast … Continue readingThe housing industry will soon be up in ARMs

CHLA and 41 IMBs urge the FHA to cut MI premiums

The Community Home Lenders Association (CHLA) sent a letter, signed by 41 independent mortgage banks, to the Federal Housing Administration (FHA) on Wednesday urging the administration to cut mortgage insurance premiums. The letter, which includes signatures from South Carolina-based Movement Mortgage, Cherry Creek Mortgage, Texas-based … Continue readingCHLA and 41 IMBs urge the FHA to cut MI premiums

Layoffs, again: Fairway is the latest lender to trim workforce

Madison-based Fairway Independent Mortgage Corp. appears to be the latest mortgage lender to cut jobs due to the challenging origination market, showing that surging mortgage rates and home prices are now affecting companies with a high share of purchase loans in their portfolios.  Fairway staff … Continue readingLayoffs, again: Fairway is the latest lender to trim workforce

This savagely unhealthy housing market needs higher rates

The National Association of Realtors reported Thursday that existing home sales for April came in at 5.61 million, with double-digit home-price growth driving a housing market that is still savagely unhealthy. However, this year has seen one big game-changer: the 10-year yield finally cracked over … Continue readingThis savagely unhealthy housing market needs higher rates

Applications for new homes dropped 14% in April

Skyrocketing mortgage rates and a slowdown in new home constructions led to a drop in home purchases in April. Mortgage applications for new home purchases dropped 10.6% in April from the same period last year, according to the Mortgage Bankers Association builder application survey. Compared with … Continue readingApplications for new homes dropped 14% in April