As you probably know by now, the Federal Open Market Committee once again voted to hold rates at their current level, at least for now. Based on the minutes of July’s meeting, the Fed indicated they were leaning toward holding the rates until they believed we recovered from the impact of Brexit. (Some though that would be in September.) Guess…
According to Fannie Mae’s 3rd Quarter Mortgage Lender Sentiment Survey, some lenders are forecasting an increase in their profits over the next 3 months. Twenty-eight percent of those surveyed expect profits to rise, with 17% seeing it go down, and 55% say it will most likely stay about the same. Not a rousing endorsement of the present economy but good…
Yo! Are you ready for the new improved credit reports providing you with trends in a consumer’s debt repayment history? You better be, because as of September 24th, Fannie requires that all loans submitted through DU must have this additional credit information. Whether you want the trending data or not, you’re going to get and pay for it in your…
Some now believe that independent mortgage lenders cannot survive strictly by originating mortgage loans. They believe such lenders need to expand their business lines to include other financial products desired and needed by consumers. (Survival) For years, large Banks have moved in and out of mortgage lending depending on rates and risks, developing and offering other financial products and services…
We hear this quite often but it is so true when it comes to the future of mortgage lending. Aside from the changes resulting from regulatory and agency requirements, the industry is evolving quickly into the digital age. What might the future bring? National Mortgage News, as part of its 40th Anniversary, has made some pretty bold predictions. In case…
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…
