Forbearance rate finally hits pre-pandemic levels

Servicers’ forbearance portfolio volume dropped last week to a level below 3.00% for the first time in 18 months. The total number of loans in forbearance decreased by four basis points to 2.96% as of Sept. 19, according to the Mortgage Bankers Association (MBA).       The most notable decline was … Continue readingForbearance rate finally hits pre-pandemic levels

How LOs can capitalize on social media channels while remaining compliant

Exponentially increase your loan officers’ origination potential without incurring additional expense? Sounds too good to be true, doesn’t it? However, today more than ever before, this ambitious goal is within reach thanks to the marketing power of the internet via social media.  The single biggest … Continue readingHow LOs can capitalize on social media channels while remaining compliant

Affordable housing vacancy drops, and rents are climbing

The vacancy rate for low-income tax credit-supported affordable housing dropped to 2.5% nationwide in the second quarter of 2021, a decrease of .01% from the first quarter, according to Moody’s Analytics REIS, New York. Since Moody’s Analytics REIS has tracked it, the sector’s vacancy rate … Continue readingAffordable housing vacancy drops, and rents are climbing

Agent fired after hack exposed alleged racist, Holocaust-denial views

Real estate agent Joshua Alayon was fired by his brokerage Travers Miran Realty after getting caught up in a data hack earlier this month. According to data obtained by “hacktivist collective” Anonymous, from domain registrar Epik, Alayon allegedly tried to register several domains expressing far-right … Continue readingAgent fired after hack exposed alleged racist, Holocaust-denial views

UWM announces Bolt underwriting system for brokers

United Wholesale Mortgage announced several new initiatives at the AIME Fuse conference on Saturday. In a keynote session about the future of mortgage, UWM CEO Mat Ishbia previewed Bolt, an underwriting system that he said would enable brokers to underwrite a loan in 15 minutes … Continue readingUWM announces Bolt underwriting system for brokers

New home sales rise for second consecutive month

Sales of new single-family homes in August increased 1.5% from the prior month, at a seasonally adjusted annual rate of 740,000, according to a report from the U.S. Commerce Department released on Friday. That’s the second straight month of rising sales for homebuilders, though there’s … Continue readingNew home sales rise for second consecutive month

How one lender is solving problems in the fix-and-flip space

It’s no secret that housing is in short supply. According to Realtor.com, the country is a whopping 5.24 million homes short. And total active listings? Those are down 24% over the year. To make matters worse, some of that inventory is extremely dated. The typical … Continue readingHow one lender is solving problems in the fix-and-flip space

Dems propose 20-year mortgage for first-gen homebuyers

The raft of legislation designed to spur first-time homeownership in America seems to grow by the minute. Another bill has joined the fray, and its sponsors propose creating a new 20-year-fixed-rate mortgage program through Ginnie Mae. The legislation, dubbed the “Low-income First Time Homebuyer (LIFT) … Continue readingDems propose 20-year mortgage for first-gen homebuyers