Mortgage lenders tightened their offerings in June in what could be a sign of greater difficulty for borrowers looking to get into a new home. New data from the Mortgage Bankers Association showed less credit on offer in June, the first decrease since late 2024. The trade group’s Mortgage Credit Availability Index, which tracks loan […]
Delinquency risk leads to less credit for borrowers Read More »
Lower gain on sale margins at JPMorgan Chase could be a negative sign for independent mortgage banker results in the second quarter, a Keefe, Bruyette & Woods report said. The drop in margins at both Chase and Wells Fargo came even as origination volume rebounded at both banks. It was up 44% from the first
Chase’s lower 2Q margins a negative for IMB earnings Read More »
A jump in refinance activity lifted mortgage lock volumes last month, but purchase numbers may hold more promise for lenders. Total lock volume in June came in 2.11% higher month over month, according to the latest data from Mortgage Capital Trading. Rate-and-term refinance activity provided much of the momentum with a leap of 9.89%, as
Surging rate-and-terms push lock volumes upward Read More »
The Mortgage Industry Standards Maintenance Organization has added over 40 standardized fee names to a dictionary it created and is seeking public comment on the revisions. The 30-day public comment period on those updates runs through Aug. 7. “MISMO developed this guide to promote the uniform usage of fee names and descriptions for the purpose
MISMO adds 40 definitions of fee charges to reference guide Read More »
Panorama Mortgage Group, parent company of several lenders focused on affordable homeownership, announced the launch of a new mission-driven wholesale and corresponding lender aimed at making funding available to first-time buyers. The Las Vegas-based company unveiled Travisa Financial, which it created in response to what it saw as a demand for partnerships among many third-party
New Panorama TPO targets first-time buyer lending Read More »
Black Americans have long faced an uphill struggle to homeownership, and new data suggests that those problems aren’t going away anytime soon. Black homebuyers are 1.7 times more likely to be denied a mortgage than other races, according to the latest report from Lendingtree. In 2024, 19% of Black applicants were denied mortgages, significantly higher
Black Americans still struggle to get mortgages, study finds Read More »
Even though Keefe, Bruyette & Woods has downgraded the stock rating on three of the five private mortgage insurers it covers, its analysts are still relatively bullish on the segment. Radian, Essent and NMI Holdings have all been dropped to a market perform rating from outperform in large measure because of their strong performance year-to-date,
KBW cuts ratings on mortgage insurers Read More »
Capital One confirmed it is closing the home equity lending business it acquired in the purchase of Discover. The news first appeared in a Reddit thread last week and then in Home Equity Lending News on July 1. That thread noted the company already notified affected employees of the decision to close the business known
Capital One confirms Discover home equity shutdown Read More »
Mortgage lenders welcomed the rescissions the Department of Housing and Urban Development made to 12 Federal Housing Administration policies, noting they would make the program more attractive for participants. They could even be a starting point for bringing banks back as originators in this government-insured program. These revisions might affect other segments of the housing
HUD rescinds 12 FHA policies: What home lenders need to know Read More »
Early- and mid-stage mortgage delinquencies saw the biggest yearly increases among all credit products, a development Vantagescore deemed a “surprise”, which “may be demonstrating early signs of borrower financial stress.” The share of mortgages 30-to-59 days behind on payments jumped to 1.03% in May from 0.92% during the same month a year earlier. Among all
Researchers find ‘surprise’ in new mortgage delinquency data Read More »
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