Servicing

Newest Board member of Fay Financial brings 30 years of experience in residential mortgage, community banking, affordable housing, and diversity and inclusion initiatives to his new role.

A new mortgage report from ATTOM revealed U.S. lenders issued approximately $494 billion worth of residential mortgages in Q2 of 2023, while total activity rose after eight straight quarterly declines to 21%.

“Volume picked up during the spring homebuying season and additional personnel were shed. However, the substantial cost savings per loan was not enough to put the average net production income in the black,” said Marina Walsh, CMB, MBA’s VP of Industry Analysis.

With extensive product strategy and technology leadership experience in the real estate industry, Fortier will direct and continue to enhance the Paragon Connect system, which provides real estate agents on-the-go access to advanced agent-client collaborative features and business management tools.

“Mortgage credit availability declined to its lowest level since 2013, as lenders pulled back on underutilized loan programs and as liquidity concerns remain for some jumbo lenders,” said Joel Kan, MBA’s VP and Deputy Chief Economist. "Declining origination volumes have led to lower profitability for many lenders, resulting in narrower loan product offerings to reduce operational costs.

According to a new report from Down Payment Resource, the number of homebuyer assistance programs available to help people finance homes inched forward 0.5%, offering more opportunities to those who remain financially worried about housing costs.

MortgagePoint speaks with mortgage servicing execs from BOK Financial, Carrington, the NMSA, PHH Mortgage Corporation, and Servbank about the unusual times and unusual opportunities the industry faces midway through 2023.

Fannie Mae’s recap of its Environmental, Social, and Governance efforts in 2022 details how the GSE acquired mortgages supporting 1.2 million single-family home purchases nationwide, nearly half of which were for first-time homebuyers.

The Five Star Institute has joined forces with the National REO Brokers Association to dissect how to prepare for an increase in REO volumes, with topics ranging from streamlining operations to managing compliance and public perception.

In today’s real estate market, every dollar counts, especially for low- to moderate-income homebuyers. Guild Mortgage’s new product buys down the mortgage interest rate for the first year and only requires a 1% down payment.