Source: The Mortgage Reports — Where can I find a bank statement loan? The home loan process looks a little different when you have self-employed income. Traditional home loans are an option, but some self-employed […]
Demand for mortgage loans dropped following the Fed’s decision to raise interest rates by an additional 75 basis points last week. The market composite index, a measure of mortgage loan application volume, declined 3.7% for […]
Non-QM specialist Angel Oak Mortgage Solutions is the latest player in the space to cut a sizable chunk of its workforce amidst widespread market volatility. The company issued pink slips to 75 employees last week, […]
Pennymac Financial Services named longtime industry veteran Jerry Halbrook as its new chief mortgage innovation officer. Halbrook, who announced his new position via LinkedIn on Monday, brings more than 25 years of experience in mortgages. […]
Source: Mortgage Introducer — With another interest rate hike expected this week, a third of mortgage customers in the UK said that rising rates have made repayments unaffordable for them. Commissioned by Butterfield Mortgages, […]
Source: Housing Wire — Wells Fargo will pay $94 million to settle a class-action lawsuit that argued it sent more than 200,000 mortgage borrowers into forbearance during the pandemic unlawfully and without their consent. The […]
Source: Bankrate — With interest rates rising in an effort to curb inflation and recession fears escalating, you may find yourself worrying about what happens if you fall behind on your mortgage. The percentage of mortgages […]
Source: Elite Agent — Thousands of borrowers on fixed-interest home loans are facing an interest rate “cliff” and could be plunged into mortgage stress by the end of the year. According to Finder, $29.8 billion […]
Source: Housing Wire — The premise of a mortgage rate lockdown is simple: so many American households have such low mortgage rates that some will never move once rates rise, which then locks up housing inventory. […]
Source: Fox Business — The average interest rate for 30-year fixed-rate mortgages hit the 6% mark for the first time in 14 years, according to a Mortgage Bankers Association (MBA) survey released Wednesday. The […]
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