10
NOV
2016
mortgage-lenders-use-technology

Mortgage Lenders Doing Their Part for the Economy

Hiring among non-bank mortgage lenders increased in September, adding 2200 full-time employees to their payrolls. That’s a big jump from the 900 hires they added in August.  The additions were part of a rise in September employment to 315,000 new jobs, the highest increase since...
09
NOV
2016
loan-origination-costs

Lenders Lament Increases in Loan Origination Costs

By all accounts, it cost a lender more money to originate and close a mortgage loan today than it did 10 years ago. But then again, what doesn’t cost us more today than it did 10 years ago? The question is how much is the increase, why, and is it worth it?  That’s something each...
08
NOV
2016
non-bank-lending-takes-over-mortgage-market

Non-Banks Take Over The Mortgage Market

It’s official. Mark it down. In the third quarter of 2016, non-bank mortgage lenders originated more than half of the mortgages originated in the US. According to a WSJ report, they represented about 51.4% of the mortgage dollars lent as of the end of September. You’ve come a...
07
NOV
2016
too-little-too-late-obama-administration

Housing Policy: Is It Too Little – Too Late?

As the Obama Administration is winding down, the Treasury Department issued a paper that may be considered the administration’s final word on Housing policy. The paper indicates that reform efforts should focus on providing access to credit and affordable rental housing...
04
NOV
2016
gse-bailout-fannie-mae-freddie-mac

Mortgage Financing: Is the Government Infringing on the Private Sector

With the crash of 2008, the federal government took over the largest purchasers of conventional mortgage loans in this country; Fannie Mae and Freddie Mac. They said this was done to protect the taxpayers against major losses that might be sustained by these agencies. (Takeover)...
03
NOV
2016
sofi-refinance-student-loans-mortgage

SoFi Finds A Way To Keep The Refis Coming

Sofi announced a program with Fannie Mae to refinance homeowners with sufficient equity to cover some or all of their student loan debt. It’s estimated that such a program may benefit as many as 8.5 million households throughout the US. Now, that’s a lotta people. With the...
02
NOV
2016
boomerang-buyers-are-back-2017-2018

‘Boomerang Buyers’ Are Back!

Homeowners who lost their homes in the crash of 2008 are poised to make a comeback into the housing market. More evidence of a potential for improvement in home purchases in 2017 and 2018. This means more home purchases, more financing opportunities for mortgage lenders. That’s...
01
NOV
2016
innovation-mortgage-lenders

Mortgages: It’s Time to Get Creative (Again)

Innovation is the new buzz word in mortgage lending. The talk at this year’s MBA conference in Boston was all about technology and what can be done to streamline operations, reduce costs and improve loan quality. What a difference a year makes. Last year at this time we were just...
31
OCT
2016
ups-downs-mortgage-housing-opportunities

The Ups and Downs of Housing and Mortgage Opportunities

The Mortgage Bankers Association has forecasted a sharp rise in home purchases in 2017 and 2018. As a result, based on their most recent predictions, home purchase mortgage originations in 2017 will be about $1.1 trillion, growing to around $1.18 trillion in 2018. Great news for...
28
OCT
2016
mba-annual-conference-2016-mortgage-community-boston

MBA Focuses on Technology, Diversity & Regulations

All the big hitters from the mortgage community gathered this week in Boston to discuss and learn about what’s happening in mortgage lending and where do we go from here. In the opening session, the theme was set. The economy is improving (or so they say) and the outlook for...