Lending and Originations

“People across the Unites States continue to feel the squeeze from higher housing costs, but the impact is uneven between regions,” said Anna Zhou, Economist for Bank of America Institute.

“Inflation has now been joined by financial stability concerns as threats to sustained growth,” said Doug Duncan, SVP and Chief Economist for Fannie Mae.

Mortgage rates fell for the second consecutive week, spurring a jump in mortgage apps at the outset of the spring homebuying season.

The correlation between the asking price and the size of the down payment is behaving as expected—as the housing market has cooled over the past year, down payment amounts are down by 10%.

The dip in mortgage rates has kicked the spring homebuying season off on the right foot, as the MBA reports overall app volume on the rise for the third straight week, amid uncertainty over the health of the banking sector.

"Conscious of changing mortgage rates, home buyers are taking advantage of any rate declines," said NAR Chief Economist Lawrence Yun.

The addition of Dan Ventura as its new VP of Reverse Operations follows the formalization of the company’s Regional Reverse SVP program, and the addition of eight new SVPs.

The American Enterprise Institute and Center for Responsible Lending are jointly warning borrowers that cash-out refinances may worsen their financial stability for years to come by shouldering monthly payments that are significantly higher.

Fannie Mae and Freddie Mac both offer special mortgages for green homes; federal and state programs also promote weatherization initiatives through grants for certain projects.

Through the purchase of Cherry Creek Mortgage, Guild Mortgage will integrate reverse mortgages into its traditional mortgage platform, using Guild’s nationwide retail team across nearly 300 branches.