Companies are always exploring new ways to leapfrog over their competition. But, now one of them is building a bridge, or maybe an arch, to by-pass their competition altogether. Arch MRT, a newly formed sub of Bermuda based Arch Capital Group, is working with Freddie Mac to provide mortgage insurance directly to borrowers bypassing traditional private mortgage providers. Under the…
It should come as no surprise to anyone in mortgage lending that the industry has been a little late in the adoption of new technologies to help streamline our business. Some of this may be because in the past several years, during the refi boom, business literally came walking through the door. It was all lenders could do to keep up…
This may be the business slogan here at LoanLogics, but it’s never been truer than today. The business of making mortgage loans has gone through some pretty drastic changes over the past few years and lenders need to make changes in how they do business to keep up. New rules and regulations put much more emphasis on loan quality, compliance,…
According to Fannie Mae’s recent Mortgage Application Survey, loan apps are up for the second straight week. Ironically, although rates are rising, refinance loan applications rose 2% over last week, while purchase business dropped by 1%. While that was going on, home prices overall rose by about 6% and rates for conforming conventional loans increased to their highest level at…
Reverse Mortgages present another opportunity for mortgage lenders to make loans and for home builders and Realtors to make additional sales. But, are they a good deal for seniors? Some believe they are a rip off of seniors who may need some short-term cash and have equity in their home. The problem, they say, is the ultimate interest cost and…
According to a recent Trulia Report, “Where Have All the Homeowners Gone?”, in 90 of the largest 100 metro areas, homeownership rates fell from the levels from 2000 to the levels from 2016. Why? According to Felipe Chacon, Trulia’s Economist and the chief author of the report, neighborhoods that swung to renters from owners or vice versa were influenced by…
