Home | National Mortgage News
WEB1 day ago · News analysis and perspective from National Mortgage News, an award-winning comprehensive digital resource serving the entire residential mortgage industry.
Mortgage interest rates inch down - National Mortgage News
WEBAug 22, 2024 · Lender Price product and pricing engine data posted on the National Mortgage News website put the 30-year fixed at 6.531% as of 11 a.m., a 16 basis point drop from 6.547% a week ago. That is on top of a 32 basis point drop from Aug. 8 to Aug. 15. The 30-year FRM as tracked by Zillow was at 6% on Wednesday before rising 2 basis points on Thursday morning.
After the latest data hack, should borrowers freeze their credit?
WEBAug 21, 2024 · Freezes also affect different loan products and programs in different ways. Both Fannie Mae and Freddie Mac seller guides state borrower credit information is acceptable if data is frozen at only one of the three bureaus. U.S. Department of Agriculture-backed mortgage applications meanwhile require all credit to be unfrozen, according to its guidelines.
20 mortgage servicing banks with the largest MSR volumes
WEBOct 24, 2022 · The top five banks in our ranking have a combined MSR volume of more than $15 billion at the end of Q2. Many servicers saw growth between Q1 and Q2, with one seeing growth of 42.14%.
Fannie Mae ups forecast to two Fed rate cuts this year
WEBJul 23, 2024 · Because of higher home prices, Duncan raised his 2024 purchase outlook by $14 billion from the June forecast, to $1.356 trillion. But he downgraded the refinance outlook for 2024 by $26 billion to $346 billion, which Duncan said in a blog post is in line with recent data on mortgage applications from …
How the CFPB and NMLS nonbank registries will converge
WEBAug 29, 2024 · The CFPB addressed this with a new guide that arrived right before a registry comment period ended Aug. 26 — a mixed blessing for the Mortgage Bankers Association, which had wanted to have 60 days to review the implementation procedure before responding in a busy election year.. While the timing could have been better, the guidance does show how interactions with the existing registry may ...
Zillow more than doubles mortgage originations in 2Q
WEBAug 9, 2024 · That gain contrasts with the latest purchase originations forecast from the Mortgage Bankers Association, whose $336 billion prediction for the second quarter was over 9% lower than for the same period in 2023 at $371 billion.Its total volume projection of $429 billion was about 7% lower versus the prior year. Mortgage unit revenue, which includes Zillow's marketplace business, was $34 million ...
Mortgage rates see another weekly dip
WEBAug 29, 2024 · "Mortgage rates fell again this week due to expectations of a Fed rate cut," said Freddie Mac Chief Economist Sam Khater in a press release. While rates should likely fall further, the recent downward trend thus far has not yet translated into significant growth in purchase originations, according to weekly industry data. "While potential homebuyers are watching closely, a rebound in purchase ...
This is how much data breaches cost lenders this year
WEBAug 16, 2024 · Financial companies spent $6.08 million on average to respond to incidents, compared to $5.9 million last year, according to IBM's Cost of a Data Breach Report published this week. The detailed publication analyzed research by the Ponemon Institute for 604 impacted firms across the economy between March 2023 and this past February.
Piggyback mortgages make a comeback - National Mortgage News
WEBAug 12, 2024 · Other instances where borrowers are benefiting from a piggyback loan is when it helps them circumvent the mandatory purchase of private mortgage insurance or cover closing costs they otherwise struggle to afford. The mortgage could also be used to reduce the balance of the primary lien under conforming limits, thereby avoiding extra costs that come with a jumbo loan.