According to the Urban Institute, a Washington DC based “think tank”, the current low mortgage default rates could indicate the current credit standards make it too difficult for many consumers to get their shot at the American Dream. (Mortgages) Why is it that lenders are the ones to get the blame when the homeownership rate is not where it is…
Way too many years ago, when I first started in the mortgage business, the emphasis was still on loan originations. But, it was also on the loan’s ongoing performance. Lenders originated but most also serviced the loans they made. Independent Mortgage Lenders and some Banks originated government loans that were sold into Ginnie Mae pools. Other Banks and S &…
Mortgage Brokers rose to prominence in the era of subprime lending. Their flexibility to react to the opportunities presented by this market provided both them and many lenders with a new line of business, and profits. Since then, the Mortgage Broker has become a staple in the mortgage origination process providing correspondent and wholesale lenders with a steady stream of…
It seems lenders are finding that the new loan programs offering a minimum of only a 3% down payment aren’t attracting buyers and boosting homeownership among potential low to moderate income home buyers as everyone had hoped. (Low Down Loans) Why not? Some think it’s because of a lack of information, education and understanding about the availability of these programs.…
The most recent Zillow Housing Confidence Index (Where do all these reports come from?) indicates that although many homeowners think now may be a good time to sell their home, they do not believe it is a good time to buy. (Housing Index) That creates a little problem. If existing home owners won’t sell, or buy, and builders aren’t building…
According to MBA’s 2016 second quarter Quarterly Mortgage Bankers Performance Report, Independent Mortgage Bankers income more than doubled over what was earned in the first quarter. Hooray for Brexit, low rates and good old fashioned hard work and ingenuity. Mortgage Bankers did what they do best. Make loans and make money while doing so. Once again, Independent Mortgage Bankers demonstrated…
