Not riding refi wave pays off for young broker – Mortgage Professional
Not riding refi wave pays off for young broker Mortgage Professional
Not riding refi wave pays off for young broker Mortgage Professional
Today weâll check out âHomeTown Lenders,â a company that refers to itself as one of the Southeast’s largest FHA mortgage lenders. But thatâs not all they do. You can also get a home loan backed by Fannie Mae, Freddie Mac, the VA, and even the USDA. They arenât short on loan options, nor are they… Read More »HomeTown Lenders Review: The Latest Tech Coupled with Old-Fashioned Customer Service
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A friend out in California asked me how much, on average, I spend on a bottle of wine. I replied, âAbout half an hour.â Plenty of wine is being consumed while watching Yellowstone and 1923, and while all the women are ogling Spencer Dutton in 1923, in some non-mortgage news to save the economy the Secretary of Homeland Security will announce next month that the Immigration and Customs Enforcement will start deporting seniors (instead of illegals) to lower Social Security and Medicare costs. A major study concluded that older people are easier to catch, offer less resistance, and, more importantly, will not remember how to get back home. In actual news, lenders who own servicing continue to peel it off because it either doesnât fit their portfolio, or they need the cash. The owners of lenders continue to examine various business strategies as we start 2023, with some thinking that it doesnât make sense to remain the size they are. There was a lot of mergers and acquisition activity last year, big and small. I am told by my M&A friends at STRATMOR (Garth & David) that 2023 is lining up for even more. (Both will be in San Diego at the IMB Conference if you want to confidentially meet up.) This weekâs podcast is sponsored by Candor. Candorâs patented automated underwriting decision engine, CogniTechâ¢, is a state-of-the-art, 100% machine platform that can handle infinite loan scenarios. Todayâs has Part Two of an interview with Tom Booker and Tom Showalter on how every underwrite is an anomaly.
Pennymac aims to expand its client base in the bank and credit union segment and review opportunities to offer jumbo loans.
“There was an increase in refinance activity as a result of the 16-basis-point decline in rates, as both conventional and government refinance applications increased. However, the overall pace of refinance applications was lower than November and December’s 2022 averages and over 80% lower than a year ago. Refinances were about 30% of all applications last … [Read more…]
Economists believe that if the mortgage rate trend continues, the market will be able to improve in the second half of 2023.Â
Demand for build-for-rent homes is growing as the purchase market falters. But success in the space is all about location, location, location.
The first half of the housing market in 2022 might be described as “Fast and Furious.” The second half? More like “Frozen” or “The Big Chill.” Here’s how 2023 is shaping up.
Average long-term mortgage rates inch higher OregonLive