Recent reports from lenders and QC vendors show that overall loan defects are on the decline, including defects related to the TRID rules. This is good news for lenders, the secondary markets, and the housing industry. Fewer defects mean better loans, better loans mean fewer delays with better performance and fewer delays with good loan performance contributes to a much…
Two recent reports, one by Fannie and another by Trulia, an online marketplace, indicate that consumers may be a little less optimistic when it comes to homeownership. The Fannie Mae Home Purchase Sentiment Index declined for the fourth straight month in November by about a half a percent (not much). This included information gathered both pre and post-election. Interestingly, Trulia…
More and more lenders are providing consumers with online capabilities to obtain information about products offered and make application for a mortgage loan. More and more consumers desire and expect these capabilities when making their decision on which lender they choose. To stay competitive as a mortgage lender you need to offer the consumer the option to communicate through online…
Home prices increased about 6% over 1 year ago, and are projected to continue to rise at a rate of about 5% over the next year. That’s a pretty good jump in values over a two-year period creating wealth for existing homeowners in the form of increased home equity. What this means is that these homeowners have access to additional…
Like a river, the economy must keep flowing. Sometimes it may get dammed or re-routed but it’s got to keep moving. It cannot stand stagnant. That isn’t good for anyone. Based on all indicators it appears the economy is moving (growing) and with the election of Mr. Trump, conventional wisdom is it will grow even more. It seems that should…
I’m a little confused. You would think that rising mortgage rates would have a negative impact on home sales. The higher the rate, the more it would cost a consumer in their monthly payments, the fewer consumers buying homes, right? Not necessarily. Most experts are predicting that rising rates will actually spur more home buying. First, we have the pent-up…
