jimdownsreingroupdarwin

[jimdownsreingroupdarwin]

California’s housing market probably will slow in 2020, Realtors say

Economic uncertainty and high prices are muting the housing market in the nation’s most populous state, according to the California Association of Realtors. Low mortgage rates are making it easier for buyers to afford homes, but that’s being offset by the Trump administration’s trade wars that have increased the chances of an economic contraction, said Jared Martin, president of CAR. from Lending https://www.housingwire.com/articles/50239-californias-housing-market-probably-will-slow-in-2020-realtors-say via https://www.housingwire.com/rss

[jimdownsreingroupdarwin]

Freddie Mac: Mortgage rates decline from last week's 11-month high

This week, the average U.S. fixed rate for a 30-year mortgage fell to 3.64%. That's nine basis points below last week’s 3.73% and more than a percentage point lower than the 4.72% of the year-earlier week, according to the Freddie Mac Primary Mortgage Market Survey. According to the GSE, in terms of the 30-year fixed-rate mortgage, September has been the most volatile month since March. During the month, the weekly movement has averaged 11 basis points. from Lending https://www.housingwire.com/articles/50233-freddie-mac-mortgage-rates-decline-from-last-weeks-11-month-high via https://www.housingwire.com/rss

[jimdownsreingroupdarwin]

CFPB changes up its leadership

The Consumer Financial Protection Bureau announced five new additions to its executive leadership team. The bureau announced new positions for Desmond Brown, Jason Brown, Karla Carnemark, Ren Essene and Bryan Schneider. from Lending https://www.housingwire.com/articles/50231-cfpb-changes-up-its-leadership via https://www.housingwire.com/rss

[jimdownsreingroupdarwin]

Median-priced homes aren't affordable in 74% of U.S. housing markets

The average wage earner can’t afford a median-priced home in 74% of U.S. markets, according to a new study from ATTOM Data Solutions. According ATTOM's 2019 U.S. Home Affordability Report, median home prices in the third quarter of 2019 were not affordable for average wage earners in 371 of 498 U.S. counties analyzed. from Lending https://www.housingwire.com/articles/50227-median-priced-homes-arent-affordable-in-74-of-us-housing-markets via https://www.housingwire.com/rss

[jimdownsreingroupdarwin]

Study: Most first-time homebuyers feel overwhelmed and underprepared

Although homebuying is a sign of independence and a big step in many people's lives, a new report from Framework shows that homebuyers wish they were better educated about the process before embarking on their real estate journey. The study found that only 41% of first-time homebuyers felt they were well prepared for the homebuying process. from Lending https://www.housingwire.com/articles/50225-study-most-first-time-homebuyers-feel-overwhelmed-and-underprepared via https://www.housingwire.com/rss

[jimdownsreingroupdarwin]

Borrower home equity rises to all-time high in first half of 2019

Homeowner equity growth continued to climb in the second quarter of 2019, according to the Q2 2019 home equity analysis from CoreLogic. According to their data, homeowners with a mortgage – about 63% of all homeowners –saw equity increase by 4.8%, a total of nearly $428 billion, since the second quarter last year. This means the average homeowner gained about $4,900 in equity over the last quarter. from Lending https://www.housingwire.com/articles/50226-borrower-home-equity-rises-to-all-time-high-in-first-half-of-2019 via https://www.housingwire.com/rss

[jimdownsreingroupdarwin]

Fitch: End of QM Patch could drive RMBS losses

High loan-to-value loans could drive losses in residential mortgage backed securities as the Qualified Mortgage Patch expires, according to a new report from Fitch Ratings. The absence of the GSE backstop for mortgage insurance claims is expected to contribute to loss levels with the end of the Temporary Safe Harbor status that generally exempts Fannie Mae and Freddie Mac from liability under the Qualified Mortgage rules. from Lending https://www.housingwire.com/articles/50224-fitch-end-of-qm-patch-could-drive-rmbs-losses via https://www.housingwire.com/rss

[jimdownsreingroupdarwin]

MBA: Purchase demand declines 11% as mortgage rates continue to climb

Several weeks ago, HousingWire asked the question of whether or not borrowers were sensitive to rate changes. Well, this week’s Mortgage Applications Survey suggest they are indeed. According to the Mortgage Bankers Association, last week’s uptick in mortgage rates, which climbed to the highest level since last October, sent America’s purchasing activity in decline by a whopping 10.1%. from Lending https://www.housingwire.com/articles/50220-mba-purchase-demand-declines-11-as-mortgage-rates-continue-to-climb via https://www.housingwire.com/rss

[jimdownsreingroupdarwin]

Industry veteran David King joins loanDepot as chief marketing officer

loanDepot on Tuesday announced the appointment of David King as chief marketing officer. In his new role, King will aim to advance the company's enterprise branding, retail and digital marketing, as well as its media and advertising efforts. from Lending https://www.housingwire.com/articles/50222-industry-veteran-david-king-joins-loandepot-as-chief-marketing-officer via https://www.housingwire.com/rss

[jimdownsreingroupdarwin]

Blend bringing "one-tap" mortgage pre-approvals to U.S. Bank. Is Wells Fargo next?

When Quicken Loans launched Rocket Mortgage nearly four years ago, the lender kicked off a revolution that has seen nearly all large lenders take their mortgage process digital. Rocket Mortgage claims it’s as simple as “Push Button. Get Mortgage,” and enables borrowers to be approved for a mortgage in mere minutes. Consider the ante upped. from Lending https://www.housingwire.com/articles/50221-blend-bringing-one-tap-mortgage-pre-approvals-to-us-bank-is-wells-fargo-next via https://www.housingwire.com/rss

[jimdownsreingroupdarwin]

Low rates will push home-loan originations to 3-year high, MBA says

The cheapest mortgage rates since 2016 will push U.S. mortgage originations to a three year-high this year, according to a forecast by Mortgage Bankers Association. Lending has increased as mortgage rates tumbled on signs the economy is slowing. from Lending https://www.housingwire.com/articles/50217-low-rates-will-push-home-loan-originations-to-3-year-high-mba-says via https://www.housingwire.com/rss

[jimdownsreingroupdarwin]

PrimeLending appoints Tim Elkins as its new chief production officer

PrimeLending appointed Tim Elkins to the position of chief production officer. Elkins, who has been with the company since 2008, began his time there as senior vice president of technology. In 2012, he went on to earn the title of EVP, chief information officer. As PrimeLending’s new CPO, Elkins is now expected to oversee the company’s retail production, which includes more than 13,000 loan originators. from Lending https://www.housingwire.com/articles/50218-primelending-appoints-tim-elkins-as-its-new-chief-production-officer via https://www.housingwire.com/rss

[jimdownsreingroupdarwin]

Here's how to win a 2019 HW Vanguard award

HousingWire’s 2019 Vanguard nominations close Friday, and let’s be honest – 98% of you haven’t submitted your nomination yet. So for everyone pushing things to the last minute, here are a few tips to consider as you submit your nomination that could give you an edge up on the competition, which continues to grow more competitive each year. from Lending https://www.housingwire.com/articles/50216-heres-how-to-win-a-2019-hw-vanguard-award via https://www.housingwire.com/rss

[jimdownsreingroupdarwin]

Commercial, multifamily delinquencies hold near record lows

Commercial and multifamily delinquencies held near record lows in the second quarter of 2019, according to the Mortgage Bankers Association. Most multifamily and commercial loan types remained unchanged or decreased just slightly from the first quarter, hovering near all-time lows. from Lending https://www.housingwire.com/articles/50211-commercial-multifamily-delinquencies-hold-near-record-lows via https://www.housingwire.com/rss

[jimdownsreingroupdarwin]

BSI Financial Services names new SVP for sales and business development

BSI Financial Services, a Texas-based mortgage servicer, has named industry veteran Allen Price senior vice president of sales and business development, the company announced recently. Price will aim to grow BSI Financial's loan subservicing, quality control, mortgage servicing rights purchase and real estate business lines offered through Entra Solutions, a company launched by BSI Financial this month. from Lending https://www.housingwire.com/articles/50213-bsi-financial-services-names-new-svp-for-sales-and-business-development via https://www.housingwire.com/rss

[jimdownsreingroupdarwin]

FHFA formally ends mortgage volume discounts from Fannie Mae, Freddie Mac

Federal Housing Finance Agency Director Mark Calabria recently issued a formal directive to end guarantee fee discounts for high-volume lenders from Fannie Mae and Freddie Mac. The FHFA explained that it is attempting to "level the playing field" for smaller lenders, and is making this a priority in housing finance reform. from Lending https://www.housingwire.com/articles/50212-fhfa-formally-ends-mortgage-volume-discounts-from-fannie-mae-freddie-mac via https://www.housingwire.com/rss

[jimdownsreingroupdarwin]

Mortgage rates at 18%? That’s what we got the last time a president strong-armed the Fed

The National Bureau of Economic Research has weighed in one of the most chilling questions to arise in decades on the usually dry topic of monetary policy: If a U.S. president tries to strong-arm the Fed with public name-calling and derision on Twitter, can it work? The answer, according to NBER, is yes. from Lending https://www.housingwire.com/articles/50206-mortgage-rates-at-18-thats-what-we-got-the-last-time-a-president-strong-armed-the-fed via https://www.housingwire.com/rss