Lending and Originations

Bringing more than 20 years of experience to his new role, Andrew Strickman has been tapped to lead a team of more than 50 to grow New American Funding’s efforts in branding, events, insight, strategy, and audience marketing.

Hitting levels last recorded in 2001, Freddie Mac reports the fixed-rate mortgage at 7.23% this week, forcing more prospective buyers to back to the sidelines and pushing purchase activity to a 28-year-low.

The MBA reports a 4.2% week-over-week slide in overall mortgage application volume, with apps for home purchase mortgages falling to levels last reported in April of 1995, as rates shot up to the 7.30% range.

A pair of new HUD reports suggest that federal relief prevented a rise in evictions and homelessness during the pandemic through a series of federal intervention actions.

Digital homeownership company that has surpassed $100 billion in funded loans will become a publicly traded company and continue developing its proprietary loan origination platform, Tinman.

By conservative estimates, up to 1 million multifamily homes are in the pipeline to be completed soon, giving those who are locked-out of the purchase market other options to live.

“There’s a fair amount of demand for lower-priced single-family homes, which in this area means around $400,000 and under,” said Redfin Premier Agent Brynn Rea.

Bringing more than 30 years of industry experience to his new role, former Capstone Direct Mortgage Financing Founder joins the retail division of CMG Financial.

After seven straight months of positive sentiment in builder confidence, mortgage rates exceeding the 7% mark, as well as high shelter inflation, have eroded housing affordability and put a damper on consumer demand.

"The inventory situation is unique—we are seeing it differ across the country depending on what area, but demand for housing is still strong. As rates stabilize, consumers' confidence should strengthen, helping boost market activity," says Nick Bailey, President and CEO of RE/MAX LLC.