Homeowners’ equity is at all-time highs. That affords them the opportunity to use that equity in a number of ways. One way is to take some money and do some long overdue upgrades. The National Association of Home Builders (NAHB) Remodeling Index, (yup, another index), rose 3 points in the fourth quarter of 2017. This is its highest level since…
The national mortgage average fraud risk indicator, according to CoreLogic, increased by 3 points in the fourth quarter, going from 135 to 138. The CoreLogic’s mortgage fraud risk index is determined from the total of loan application fraud risk scores during the prior quarter. Scores are calculated for the 100 most populated U.S. Census Bureau Core Based Statistical Areas (CBSAs)…
A recent article indicated “Homebuilder sentiment cools in January from 18-year high”. Sounds a little ominous. Like, maybe the jig is up, things are taking a turn for the worse. That couldn’t be further from the truth. Yes, homebuilder sentiment is down from its highest level in 18 years, but by a mere 2 points. The Housing Market Index fell…
A new battle is brewing between bank and non-bank mortgage lenders over the use of credit score models. The battle over FICO versus VantageScore has begun. Which is the better scoring system to use for qualifying mortgage applicants and which is the best indicator of potential default. For a while now, the Federal Housing Finance Agency (FHFA), the agency that…
You may not like the answer. In the category: “Things you should know, but would rather not,” comes some info on the status of housing. According to a recent ATTOM Data Solution’s Rental Affordability Report, buying a median-priced home is more affordable than renting a comparable property in about 54% of the counties reviewed. Sounds good for mortgage lenders, eh?…
A couple of banks in North Carolina are trying some new tactics to attract more customers, especially Millennials. Millennials have drawn much attention as they now represent the single largest group of consumers. Companies of all sorts, including banks and mortgage lenders, are now vying for their attention and their business. New Dominion Bank of Charlottesville has gone through a…
