Purchase

The new calculation of borrowers’ monthly obligations will allow for a higher debt load from tuition, potentially opening eligibility to more Black applicants, according to public officials.

While its net income declined annually for the second consecutive year, CEO Hugh Frater touted Fannie Mae’s resiliency in a record year for providing mortgage liquidity.

The Federal Housing Finance Agency will extend the same GSE benchmarks of the past three years into 2021.

However, those who aren't current bank customers need to have $1 million in a qualifying account.

Credit unions have seen historic mortgage growth so far this year despite the pandemic, but there are concerns some institutions may be overly relying on refinancing and not focusing enough on generating new purchase business.

Refinance application activity last week was the highest in nearly seven years, with more than triple the volume from one year ago, according to the Mortgage Bankers Association.

HELOCs and second mortgages at credit unions are on the decline amid increasing refis and shifts in consumer sentiment about borrowing against their home’s value.

Credit unions have achieved success in areas like auto and consumer loans but there is still room for them to increase their home lending.

Home prices have more than recovered since the recession, but higher-than-ever medical and student debt is robbing many homeowners from realizing the benefits, while keeping others away from the market, according to Zillow.

With the ongoing issue of the affordable housing crisis, the Mortgage Bankers Association – which many credit unions are members of – got behind the Build More Housing Near Transit Act, a bipartisan bill introduced in the House of Representatives.

Large banks had huge losses from originating mortgages in 2018 as costs were three times higher than similar-sized independent lenders, according to research conducted by Stratmor and the Mortgage Bankers Association.

The Federal Housing Administration is moving forward with a long-delayed plan to reduce the term of the home warranty required for high loan-to-value mortgages on new houses.

The Arizona-based CUSO returned $6.2 million in cash rewards to its credit union members for 2018.

The conventional market recaptured a lot of the first-time homebuyers it lost during the financial crisis, but service members instead have increasingly stuck with loans insured by the Department of Veterans Affairs.

Despite an overall weak mortgage originations market, Flagstar Bancorp's third-quarter earnings grew 20%, due in large part to its ongoing efforts to diversify operations.

Millennials are targeting homeownership within the next few years, but many are buying into certain house-purchasing myths, according to Bank of America.

Bill Emerson, the vice chairman of Quicken Loans, said mortgage lenders need to give time to consider innovation and not be deterred by naysayers.

To help close deals, there are steps online lenders can take to establish a quick and personal connection with real estate agents.

At Digital Mortgage 2018, Bill Emerson, the vice chairman of Quicken Loans and its parent company Rock Holdings, outlined a vision of dramatic digital disintermediation.

LoanDepot's CEO Anthony Hsieh delivered a bracing message to mortgage lenders on Monday — strong new competitors are coming into this market, so they need to expand their offerings.