With the crash of 2008, the federal government took over the largest purchasers of conventional mortgage loans in this country; Fannie Mae and Freddie Mac. They said this was done to protect the taxpayers against major losses that might be sustained by these agencies. (Takeover) In September of 2008, the agencies were placed into conservatorship and provided with about $190…
Sofi announced a program with Fannie Mae to refinance homeowners with sufficient equity to cover some or all of their student loan debt. It’s estimated that such a program may benefit as many as 8.5 million households throughout the US. Now, that’s a lotta people. With the current low mortgage rates, many homeowners now have the opportunity to reduce their…
Homeowners who lost their homes in the crash of 2008 are poised to make a comeback into the housing market. More evidence of a potential for improvement in home purchases in 2017 and 2018. This means more home purchases, more financing opportunities for mortgage lenders. That’s good. Many homeowners were forced to give up their homes either through bankruptcy, foreclosure,…
Innovation is the new buzz word in mortgage lending. The talk at this year’s MBA conference in Boston was all about technology and what can be done to streamline operations, reduce costs and improve loan quality. What a difference a year makes. Last year at this time we were just entering into the new TRID era. All eyes and ears…
The Mortgage Bankers Association has forecasted a sharp rise in home purchases in 2017 and 2018. As a result, based on their most recent predictions, home purchase mortgage originations in 2017 will be about $1.1 trillion, growing to around $1.18 trillion in 2018. Great news for the housing markets! On the flip side, as the purchase volume grows, the refinance…
All the big hitters from the mortgage community gathered this week in Boston to discuss and learn about what’s happening in mortgage lending and where do we go from here. In the opening session, the theme was set. The economy is improving (or so they say) and the outlook for housing and mortgage lending is strong. In fact, in the…
