I find it quite interesting to scan the daily headlines covering housing and mortgage lending. (I know, I gotta get a life!) Seriously, some recent headlines indicated: Mortgage rates tumble, but may head back up; Rates at 2017 low and may stay low; Application volume is down; but Credit availability is up What’s your take on rates, the housing market,…
Here’s an excerpt from a recent response written by Congressman Tom MacArthur, R-3rd of Toms River, New Jersey, to a letter to the Editor of the Burlington County Times. There’s more going on in NJ than Bridgegate and the Sopranos. “I’m writing in response to a recent letter to the Editor, “Dismantling consumer finance protection is a very bad idea”…
United Wholesale Mortgage (UWM), one of the nation’s leading wholesale mortgage lenders announced they now offer Brokers a completely digital platform for loan originations. Meet “Blink” (Borrower Link). According to a release by UWM, their new Blink system allows Brokers to compete with large lenders that offer online applications and a digital loan experience. Just like QuickenLoans’ Rocket Mortgage. The…
According to a recent forecast from Fannie Mae, the projections for mortgage loan originations for 2017 now stands at about $1.5 trillion. Don’t get too depressed, although down from the past few years, that’s still quite a bit of loan volume. And it could be more; especially if you’re open to change and a little more risk. According to Jamie…
Did you hear the one about the Bank who had to pay big bucks to the employee who blew the whistle on suspected illegal behavior? Wells Fargo has been ordered to rehire and pay a former employee $5.4 million dollars in back pay, legal fees, and compensatory damages after firing the employee for reporting violations under the Whistleblower Protection Act.…
With a shift in the mortgage market from refinances to purchase loans, what are the main concerns of most mortgage lenders? The main area over the past few years, when rates were low, was the increasing regulations that hampered lending and definitely increased costs. Not so anymore, according to a recent Moody’s Investors Service survey In 2017, Regulatory concerns have…
