Buyers facing high mortgage rates are pulling out of their home-purchase agreements at the highest rate in nearly a year. Nearly 60,000 home-purchase agreements were canceled nationwide in August, equal to 15.7% of homes that […]
The U.S. government is seeking to sell $13 billion worth of mortgage bonds amassed after the failures of both Silicon Valley Bank (SVB) and Signature Bank earlier this year. First reported this week by Bloomberg […]
New York-based multichannel lender US Mortgage Corporation has named Nino Saso as chief production officer. A mortgage industry veteran with over three decades of experience, Saso was previously a divisional sales manager at Nations Lending. […]
The Mortgage Bankers Association (MBA) said the volume of mortgage applications dipped slightly during the week ended September 8. MBA said its Market Composite Index, a measure of that volume, decreased 0.8 percent on a […]
The question many in capital markets have been asking since the GSEs were put into conservatorship is this: Without Fannie, Freddie, or the Fed, who will buy the agency MBS? Today we are seeing this […]
The mortgage industry has witnessed its fair share of tribulations and transformations, but its response to those challenges and changes is often a tale of reactiveness. While no one can truly predict the future, there […]
The Consumer Financial Protection Bureau (CFPB) last week made a quiet change to its guidance related to the Real Estate Settlement and Procedures Act (RESPA), affirming that mortgage originators who partner with U.S. Department of […]
A powerful hurricane and an approaching three-day weekend may have offset the impact of an improvement in interest rates during the week ended September 1. The Mortgage Bankers Association (MBA) said its Market Composite Index, […]
Mortgage applications for home purchases and refinances increased for the first time in five weeks but remain at low levels. For the week that ended Aug. 25, mortgage applications picked up 2.3% from the prior […]
A couple of weeks ago, mortgage rates soared to a new 2023 high, reaching over 7% on a 30-year fixed-rate loan for the first time since November 2022. While higher rates are generally viewed with […]
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