05
SEP
2017
party-like-its-1999-prince-first-time-homebuyers-millennials

We’re Gonna Party Like It’s 1999

We got some good news!  Home inventories may be down, but first time home buyers are up. Sales this spring to first-time homebuyers were at their highest level since 1999. Woo-hoo!!! First-time homebuyers made up about 57% of the purchase mortgage market, with almost 970,000 new...
01
SEP
2017
millennials-say-no-to-credit-cards-hurt-credit-rating

Are Millennials Getting the Short End?

Right now, about 67 million people comprise what is known as the Millennial generation. That represents about one-quarter of the country’s purchasing power and is a lot of clout for one group. But, as we have learned things are quite different with this generation. They don’t do...
31
AUG
2017
what-is-the-credit-score-umpire-housing-market

Would Better Credit Score Models Increase Homeownership?

The government, the agencies, consumer groups, and trade organizations are all looking for more ways to increase homeownership. The homeownership rate has hit a wall and seems to be stagnant at its lowest levels in the past 50 years. In part, this is due to fewer homes now on the...
30
AUG
2017
old-fashioned-mortgage-lenders-need-technology-rolodex

What Might Lenders Do With Tough Times Looming?

With refinances seemingly having run their course and a shortage of homes for sale, the forecast for mortgage lending is not so good. A recent lender survey by Fannie Mae revealed that it’s no surprise that many lenders are pessimistic about profit margins.  They believe there...
29
AUG
2017
NOLO-no-loan-originator-360-mortgage-group

NOLO and the Saga of the Vanishing LO

Will the loan originators, as we know them today, be replaced by technology anytime soon?  That is one of the big questions on many a lender’s  and LO’s minds. Lenders have long struggled with the challenges of hiring, training, retaining, and paying top notch loan originators....
28
AUG
2017
new-home-construction-lending-opportunity

There’s Gold in Them There New Homes

A tight inventory of existing homes for sale seems to be spurring an uptick in new home purchases. According to MBA stats, mortgage applications for new homes jumped in July by about 5% over last year. Although, Applications decreased by 12% from the prior month. Overall...
24
AUG
2017
Freddie-waives-full-residential-appraisal-report-purchase-loan-transaction

Appraisers Beware! Freddie Goes One Step Further

Freddie announced that they have received approval to move forward with their plans to waive a lender’s requirement to obtain and submit a full residential appraisal report on a purchase loan transaction. This is one step further than Freddie and Fannie had gone when they waived...
23
AUG
2017
there-is-no-pony-in-the-pile-millennials

Millennials: There Must Be A Pony In There Somewhere

Did you hear the one about the kid who was so bad his parents gave him a big pile of horse manure for Christmas? When he came down on Christmas morning he was so excited. He exclaimed with all this horse sh-t, there must be a pony in here somewhere! The eternal optimist; talk...
22
AUG
2017
new-york-federal-reserve-report-household-debt-delinquency-rising

Could We Be Headed for Another Financial Catastrophe?

Now that I have your attention, according to a recent report released by the New York Federal Reserve’s Center for Microeconomic Data (bet you didn’t know that existed), household debt in America has reached an all-time high. Is that good news or bad news? Could be both…...
21
AUG
2017
heloc-new-business-throwback

Find New Business by Unlocking HELOC Loans

Times are tough for mortgage lenders, home loan apps are down, refinances are stagnant, and the inventory of homes for sale is a little light. So, where might one find new business? How about HELOCs? Many traditional mortgage lenders got involved in HELOC lending in connection...