Another year, another year older for the Millennial generation. They are now in their prime home-buying years and finally coming to market. According to recent activity, 45% of the purchase loans were made to Millennials versus 43% in December. Conversely, loans made to all other generations declined during the same period from 57% to 55. Millennials buying homes is a…
The dreaded tax filing deadline is fast approaching and this year it also serves as the date that the 3 major repositories will drop the reporting of outstanding tax liens from their credit reporting. As of April 16th, outstanding tax liens against consumers will no longer appear on a credit report pulled by a lender to make a mortgage loan,…
In case you hadn’t noticed, mortgage lending volume is off about 20% from a year ago, with refinances down somewhere around 35%. To add insult to injury, profit margins for traditional mortgage lenders reported for the fourth quarter of 2017 are less than half of that in Q4 2016; $237 versus $535. We all knew this was coming. But, did…
It was a ground-breaking movie – Where the Boys Are. In 1984, they remade the 1960 Connie Francis’ movie, about four college girls who decided they wanted some fun, adventure, and romance. To find it, they had to go where the boys were – spring break in Ft. Lauderdale, Florida. This remake was shown as something new for the day. Girls stepping…
Times they are a changing in the mortgage industry. At this year’s Conference of Regional MBAs held in Atlantic City, just about every session and speaker discussed the changes which have taken place, are taking place, and still to come in the mortgage industry. Bright and early on Wednesday, the residential segment of the conference began with Barry Habib, CEO…
As we know by now, a strong purchase market for housing is forecasted for the next few years. After such a long period of refinances, this presents some real challenges for Realtors, lenders, and consumers. The recent onslaught of refi’s has removed many homes from the market. This results in a rise in home prices leaving fewer affordable homes for…
