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Freddie Mac Forecasts $2T in 2016 Originations

08.16.2016

Mortgage originations are expected to top $2 trillion this year, according to the latest Monthly Outlook Report issued by Freddie Mac. This forecast marks the first time in four years that Freddie Mac is expecting more than $2 trillion in originations for a single year.

Mortgages Rates Slump For The Summer

07.19.2016

Mortgage rates have slumped this summer in a way that should elate borrowers. Alternatively, a lot of lenders and Fed officials no doubt wonder how it’s possible that mortgage rates went from 4.09 percent a year ago to a meager 3.42 percent in the past week according to Freddie Mac.

Is the eMortgage Inevitable?

07.11.2016

eLending is becoming all the rage in the mortgage business. Some wonder whether it’ll ultimately replace the loan officer—and whether it ever could.

Refi Mania Boosts Mortgage Applications

07.07.2016

Mortgage application activity enjoyed a healthy boost last week, due primarily to a vibrant burst of refinancing applications.

First-time Homebuyers Flood the Market

05.24.2016

The number of first-time homebuyers entering the marketplace is on the rise, at least according to the First-Time Buyer Mortgage Share Index released earlier today.

According to the index, which comes from the American Enterprise Institute’s International Center on Housing Risk, first-time buyer volume has jumped 18 percent since April of last year, totaling 98,000 first-time buyer loans for the entire month.

Trended Data Gives Lenders an Expanded View of Credit History

05.09.2016

Trended credit data, already used by other industries, provides lenders with a longer view (up to 30 months) of borrowers’ credit accounts and how borrowers manage revolving accounts such as credit cards. That is in contrast to the credit scores currently used in most lending decisions, which “do not distinguish between people who carry balances on credit cards and those who pay them off,” notes a recent article by Reuters.

Home Builders Detained by Rising Compliance Costs

04.06.2016

Home builders have hit a roadblock. The ramped up regulatory environment has made it difficult for builders to produce affordable homes.

Regulations put in place to protect the environment and to shore up local city finances are holding back affordable home building, according to a report by Jody Kahn, SVP of John Burns Real Estate Consulting.

Trended Credit Data Improves DU Risk Assessment and Supports Access to Mortgage Credit

03.24.2016

Credit scoring models assess the ability and willingness of borrowers to pay their debts using data collected by the three consumer credit reporting companies: Equifax, TransUnion, and Experian. 

How Will Trended Credit Data Impact DU Version 10 Approvals?

03.22.2016

Trended credit data is expanded information on a borrower’s credit history at a trade line (credit line) level on several monthly factors, including: amount owed, minimum payment, and payment made.

Effective with Version 10.0, DU will use trended credit data in its credit risk assessment.

Big banks are fleeing the mortgage market

03.10.2016

When it comes to residential mortgages, big banks are waving the white flag.

Banks originated 74% of all mortgages in 2007, but their share fell to 52% in 2014, the most recent data available from the Mortgage Bankers Association. And it could go even lower.

But even at these levels, the big bank backtrack is reshaping a lending landscape that’s already undergone seismic shifts since the housing bubble burst.

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