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LoanDepot increases market share, but profits sink in Q2
03-08-2021
The purchase market reigned supreme in the second quarter of 2021, and multichannel lender loanDepot reported a 31% increase in purchase mortgage transactions from the prior quarter. But the lender’s gain-on-sale margin and net income fell significantly during the second quarter, a trend that is keeping executives and LOs up...
Read moreHome prices are still rising, but relief for buyers is coming
03-08-2021
Home prices continue to increase as national inventory levels remain low heading into August. But relief for buyers could be coming in the next 12 months. Home prices increased 2.3% from May to June, and 17.2% year-over-year, according to the latest CoreLogic report on home prices. However, CoreLogic officials said price...
Read moreFannie Mae lifted by low rates, purchase mortgages in Q2
03-08-2021
Fannie Mae continues to reap the rewards of low mortgage rates as it posted a net income of $7.2 billion for the second quarter of 2021, up from $5 billion in the first quarter. Refinances continued to account for the majority of the government-sponsored entity’s acquisitions. In the second quarter, refinances...
Read moreMortgage lenders are loosening standards on jumbos
02-08-2021
Banks moved to ease lending standards for most mortgage loan products during the second quarter, according to a loan officer opinion survey published this week by the Federal Reserve Board. The quarterly survey found that banks loosened their underwriting standards most notably for jumbo products, including qualified mortgages (QM), jumbo mortgages...
Read moreFannie and Freddie forbearance numbers dip again
02-08-2021
Servicers’ forbearance portfolio volume fell yet again, this time dipping a single basis point to 3.47% from 3.48% last week, according to a survey from the Mortgage Bankers Association. According to MBA’s estimate, 1.74 million homeowners are still in forbearance plans. The share of Fannie Mae and Freddie Mac loans in forbearance also decreased two basis points to 1.79%...
Read moreMortgage fees to help pay for Biden infrastructure bill
02-08-2021
The Senate is banking on extending mortgage fees that Fannie Mae and Freddie Mac indirectly charge to consumers to help pay for traditional infrastructure. According to legislative text publicly shared for the first time today by the U.S. Senate, renewing the guarantee fees through 2032 would result in $21 billion toward...
Read moreAre homebuilders burning bridges with real estate agents?
02-08-2021
Alanna Strei of eXp Realty in San Diego and Cornerstone Communities’ new San Diego townhouses Real estate agent Alanna Strei’s client wanted to check out “Tesoro Vista Del Sur,” 134 newly built townhouses in the Ocean View Hills area of San Diego. The three-story abodes were part of an array of...
Read morePresenting HousingWire’s 2021 Women of Influence
02-08-2021
The 2021 Women of Influence winners represent 100 of the most influential women in leadership in the housing economy. More than just breaking records in the housing finance space, the HousingWire 2021 Women of Influence are shattering glass ceilings and leaving a legacy for years to come. During a...
Read moreRON legislation passed in Illinois, New Jersey, Oregon
02-08-2021
The use of remote online notarization is now permitted in Illinois, New Jersey and Oregon, bringing the number of states with RON legislation up to 37. Legislation is also pending in New York and New Hampshire, according to the American Land Title Association. The only states to not pass RON legislation...
Read moreDespite national protection expiring, some states will continue banning evictions
02-08-2021
After almost a year, the national ban on evictions is now over. Some states, however, will continue to limit the proceedings for months more.Read more: https://www.cnbc.com/2021/08/02/some-states-will-continue-to-ban-evictions-.html
Read moreDoma goes public, but investors cash out early
02-08-2021
Digital title provider Doma has finally gone public, but has already had to pay out nearly $300 million to early investors who redeemed their shares. Backers said in March that they expected the SPAC merger to raise $645 million in cash — $300 million provided by private investors, plus another...
Read moreeClosing special reports
02-08-2021
The COVID-19 pandemic forced the mortgage industry to digitize transactions that were once completely done in-person. And while technology has streamlined the industry, many housing professionals are still hesitant to exist in a digital landscape. This is partly due to the complexity of the mortgage process, especially at closing. For...
Read moreSolex eClosing from First American Docutech provides lenders with eSigning efficiencies and…
02-08-2021
As lenders strive to reduce costs, close loans faster and deliver a safe, seamless and convenient borrower experience, leveraging a comprehensive eClosing platform is a top priority. Solex eClosing from First American Docutech is designed to accelerate the closing process through a streamlined, end-to-end, modern digital experience, inclusive of lenders...
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