The New Year is starting out strong with housing having regained just about all its value lost in the 2008 crash. According to Zillow’s data, the total value of the U.S. housing stock grew to $29.6 trillion, a record high. That’s a $1.6 trillion increase in home value appreciation. That’s good. During 2016, renters paid about $478 billion toward their…
It’s a new year, offering a new beginning with new opportunities. By all accounts, 2017 will bring in the new purchase market and ring out the old refinances. With that, things will definitely change. New business will now come from Realtors and Builders. They need to be serviced as much as the consumers buying the homes they offer. Things are…
And it ain’t Auld Lang Syne. The Department of Justice (DOJ) isn’t quite finished yet. They recently settled with Troy, Michigan lender United Shore Financial Services (USFS) to the tune of $48 million. This may be music to their ears, but surely not to United Shore’s. It is important to note that this settlement was the result of an investigation…
With rates increasing, loan refinancing decreasing, and fewer affordable homes on the market, lenders may face some challenges in 2017 to generate business. Challenges that can be overcome with an eye toward purchase business, an expansion of products available for home financings and a trained staff to originate quality loans. Many companies have introduced new, online, automated verification systems that…
With the recent election, rising rates, improving the economy, more job opportunities, and wage growth, things could be looking up for housing and mortgage lending in 2017. Then again…maybe not. It all depends to which economist or so-called expert you listen. Here are some recent headlines about housing and home-financing: Borrowers brush off rising rates, pushing mortgage applications 2.5% higher…
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…
