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…
In today’s housing market, with its shortage of homes for sale, will sellers look poorly at a buyer making an offer tied to obtaining a mortgage requiring a low down payment? Not so, according to a recent survey done by Redfin of more than 800 of its real estate agents. A larger down payment may help but it…
I just returned from speaking at the ABA Real Estate Lending Conference in Orlando. It was a great conference and the Hyatt Regency was a great venue. I only regret I couldn’t spend more time in Orlando. The conference offered a myriad of information, products, and services covering just about all areas of commercial and residential mortgage lending. Topics discussed…
According to recent MBA forecasts, loan originations will drop in 2017 by about 15%. This shouldn’t be a big surprise. This decline is mainly due to a drastic decrease in refinances, resulting from the gradual rise in rates, and a potential for a rate spike, if the Fed discontinues purchasing mortgage-backed securities. Although forecasts are for a stronger economy driving…
