In a survey of more than 2,000 American adults, 61 percent of renters said they don't plan to purchase a house at any point in the next three years, Freddie Mac said Monday. When asked why they expect to keep renting for the near future, half of respondents said they can't afford to make a down payment for a mortgage, while 38 percent said they can't afford a monthly mortgage payment.
Read More »Mortgage Network Recruits District Manager for Central Massachusetts
Veteran mortgage sales professional Cheryll A. LeBlanc has joined Massachusetts-based Mortgage Network as district manager in the firm's Auburn, Massachusetts, office.
Read More »Lenders Bring Up Origination Volumes in Q3
Mortgage lenders originated an estimated $320 billion in loans throughout Q3, according to information collected by Mortgage Daily. While up nearly 8 percent from the second quarter's total of about $300 billion, third-quarter volumes fell short of year-ago levels by 31 percent.
Read More »Mortgage Professionals Weigh in On GSE Wind-Down
In a report released Monday, the Collingwood Group said that 65 percent of lenders and other mortgage industry workers support the push for GSE reform, calling their current state of conservatorship under the Federal Housing Finance Agency unsustainable. At the same time, none of the survey respondents called for a wind-down or elimination of the GSEs.
Read More »Survey: Housing Sentiment Mirrors Uneven Recovery
In its monthly National Housing Survey, Fannie Mae found consumer attitudes about the current state of the housing market ranged from flat to pessimistic in November after an October marked by more hopeful responses.
Read More »FHA Loan Limits to Remain Unchanged in 2015
The Federal Housing Administration (FHA) announced Friday it will leave loan limits unchanged for the highest- and lowest-cost housing markets in 2015. For most high-cost housing markets, the maximum allowable amount for an FHA loan will stay at $625,000, a threshold first set at the start of this year.
Read More »One in Five Housing Markets Less Affordable than Their Historical Averages
Out of 475 U.S. counties analyzed in the company's latest real estate report, 98—21 percent—had a higher affordability percentage than their historical average. In addition, 58 counties—12 percent of all markets analyzed—posted a median price higher than their bubble-era peaks as values continue to rise.
Read More »UWM Promotes Mortgage Tech Vet to Chief Digital Officer
United Wholesale Mortgage's Justin Glass is moving up in the company's ranks: The Michigan-based lender promoted the veteran employee to the newly created role of chief digital officer (CDO).
Read More »Luxury Home Sales Maintain Growth in Q3
Nationwide, home sales fell 1.2 percent in the third quarter compared to the same period last year, the brokerage said in a recent report. Sales have been down year-over-year for every quarter so far in 2014. At the same time, sales of homes priced at at least $1 million continued to lift, rising 9 percent over the past year.
Read More »Accurate Group Launches eSign Solution
Accurate Group, a title and appraisal services firm with headquarters in Ohio, announced the launch of its new e-signature closing solution designed to help lenders streamline the loan closing process and improve the borrower experience.
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