Who isn’t? With the forecast for rising mortgage rates, limited home supply and fewer refinances, mortgage lenders and banks will be fighting to grab a bigger piece of a shrinking pie. Although 2017 is forecast to be a pretty good year for home purchase financing, with so many lenders vying for this business things may get tough. Especially for those…
The outlook for 2017 looks good for home repair and remodeling. Both the Joint Center for Housing Studies at Harvard and the National Association of Homebuilders are forecasting a strong 2017 home repair/remodeling market. This may also open some new doors for home financing to mortgage lenders. Although the home purchase market is still projected to improve in 2017, with…
Well, it happened. As some have been forecasting a stock market crash, the DOW broke the 20,000 mark on Wednesday, showing continued strength. Whether from the “Trump Bump” or not, things are looking up for the markets. What does that mean for mortgage rates and mortgage lending? Not all outlooks are so rosy. If rates continue to rise it may…
The DOJ strikes again. JPMorgan Chase is paying $55 million to settle a lawsuit accusing it of discrimination in their mortgage lending practices. (DOJ Fine) According to the complaint filed by the US Department of Justice, Chase allowed Brokers originating loans for them to charge minority borrowers higher rates than rates charged to white borrowers. Chase did not directly charge…
Home Builders may be bucking the old adage to not change horses in the middle of a stream. With the ongoing uncertainty surrounding Millennials’ entry in home ownership, builders are once again courting good old Baby Boomers. The number of 55 and older homebuyers continues to increase. These are home buyers that have homeownership experience, stable income, assets and equity…
Over the past few years, lenders should have realized the importance of the quality of the loans they originate and why these need to be done in compliance with all the rules. We’ve seen that lenders originating large volumes of poor quality loans are susceptible to huge fines, loan indemnifications, and repurchases. In some cases, such lenders have originated themselves…
