Lending and Originations

The new team, led by District Manager John Lowe, includes 40 managers, loan officers, and support staff, responsible for more than $350 million in annual production.

As elevated mortgage rates curtailed homebuyer demand, a lack of homes for sale also limited home purchases, according to a new report from Redfin.

“While the NFCI Credit index indicated that credit tightened in March, which reduced housing market potential, the credit tightening was modest and far from recent pandemic lows, and certainly nothing like the Great Financial Crisis period,” said Mark Fleming, Chief Economist at First American.

The MBA reports a near 9% week-over-week slide in mortgage applications, as cautious buyers proceed through the spring season amid continued affordability challenges and limited supply.

A new report from Zillow has found that younger generations still believe owning a home is part of the American dream but believe they might need to win the lottery in order to achieve that dream.

The MBA reports that despite rates over the 6% mark and low for-sale inventory stunting overall sales, mortgage applications for new home purchases increased 0.6% in March compared to one year ago.

To further the Biden Administration’s commitment to addressing the nation’s homelessness crisis, HUD has issued $2.8 billion in Continuum of Care Competition Awards for thousands of local homeless service and housing programs across the U.S.

A new analysis of data from Discover Home Loans has found that 75% of homeowners are finding projects to be more expensive than originally budgeted, causing some to reconsider their renovation plans.

Title insurance and real estate settlement services provider welcomes back David Jenkins as SVP, National Agency Manager, and promotes Tim Hooper to SVP, Mid-Atlantic Regional Manager for the company’s Agency Operations.

A new analysis of rent data from Redfin has found that the median asking rent fell 0.4% in March to the lowest level in 13 months, marking the first annual decline since the coronavirus was declared a pandemic.