Industry mourns death of PennyMac’s Stanford Kurland

PennyMac Mortgage Investment Trust announced that company founder and Non-Executive Chairman Stanford Kurland died at age 68 due to complications from COVID-19. Kurland had also been battling brain cancer. The company and industry leaders alike mourned his passing, calling him an “esteemed industry leader, visionary … Continue readingIndustry mourns death of PennyMac’s Stanford Kurland

Home prices surge to six-year high in November

Record low inventory and strong buyer demand once again pushed up the cost of homes in the U.S., as prices in November rose 9.5% nationally over the same time last year, according to the S&P CoreLogic Case-Shiller index. November’s numbers mark the greatest annual growth rate since February … Continue readingHome prices surge to six-year high in November

What 2020’s top forbearance exit trends mean for servicers

Early COVID housing policy helped servicers care for homeowners in these first nine months of the pandemic with fast forbearances and smart deferrals. Now let’s preview how this will play out for servicers, homeowners and the housing economy in 2021. We’ll begin with the top … Continue readingWhat 2020’s top forbearance exit trends mean for servicers

Florida community bank launches mortgage arm

Amerant Bank, one of the largest community banks in Florida, announced that it is venturing into the mortgage industry with the formation of Amerant Mortgage. The company said this expansion was a direct response to the state’s growing demand for residential mortgages. At the end … Continue readingFlorida community bank launches mortgage arm

Housing industry reacts to Yellen’s confirmation

Industry officials were quick to signal their support for yesterday’s historic U.S. Treasury Secretary confirmation of Janet Yellen, the 74-year-old who now holds the distinction of being the first female to hold the position in its 230-year history. After a unanimous 26-0 vote from the … Continue readingHousing industry reacts to Yellen’s confirmation

Yellen approved as Treasury Secretary in historic vote

The U.S. Senate officially appointed Janet Yellen as Treasury Secretary on Monday, ensuring the 74-year-old will be the first woman to lead the department in its more than 230-year history. As part of Yellen’s team, the Treasury also named Natalie Wyeth Earnest as counselor to … Continue readingYellen approved as Treasury Secretary in historic vote

Forbearances hold steady as exits slow

The U.S. forbearance rate held relatively steady last week, rising one basis point to 5.38% of servicers’ portfolio volume, according to a survey from the Mortgage Bankers Association released on Monday. The virtually unchanged rate of forbearance volume can be attributed to a stalemate between steady declines in almost every … Continue readingForbearances hold steady as exits slow

Understanding the seasonal patterns of mortgage rates

Much like the changing of the calendar, buying and selling homes follows a seasonality that that those in mortgage and real estate have grown accustomed to. But a recent study from tech startup Haus found that mortgage rates can also be seasonal, and borrowers can … Continue readingUnderstanding the seasonal patterns of mortgage rates