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 »
Rocket Mortgage unveiled a new equity-backed financing product aimed at giving homebuyers an advantage when vying for homes in competitive markets. The Detroit-based lender’s new bridge loan offers prospective buyers the opportunity to draw into their accrued equity to put down an offer on a new purchase while still living in their existing property. Borrowers
Rocket introduces buy-before-you-sell bridge financing Read More »
In the four years since the Surfside condo collapse, a wave of regulatory changes continues to unsettle property owners and lenders, compounding challenges in an already fragile housing market. The scrutiny on condo developments in the aftermath of Surfside led to tightened lending rules that continue to put properties across the country onto a nonwarrantable
Nonwarrantable condos fuel niche lending boom Read More »
For many career servicemembers in the U.S. military, relocation is part of the job. Known as a Permanent Change of Station, these reassignments typically happen every two to four years and often involve moving an entire household: spouse, kids, pets and all. This is where lenders and real estate agents can play a critical role
How to guide military PCS clients through home financing Read More »
United Wholesale Mortgage is bringing back a conventional purchase mortgage in which the borrower only has to come up with a 1% down payment. A previous version of the product was last offered in May 2024. With this iteration, the mortgage is available up to the conforming loan limit for buyers at or below 80%
UWM brings back 1% down conventional mortgage Read More »
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