Friday , 2 June 2017
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First Timers Fade Away

The overall market share of single buyers declined from 32 percent in 2010 to 25 percent in both 2012 and 2013. First-time home buyers slipped to a 38 percent market share in the past year from 39 percent in a preview of NAR’s 2013 Profile of Home Buyers and Sellers. Read More »

Four in Five Mortgages Seen Failing QM Rule

Only about 20 percent of today’s mortgage applications will pass muster with the new QM rule that takes effect January 10, according to a leading software platform used by lenders to comply with the Dodd-Frank Act and other federal rules and regulations covering mortgage lending. Read More »

New Mortgages Rise 10 percent

Mortgage originations have increased by 10 percent from a year ago, a gain not quite as large as existing home sales. More important, a look at the most recent completed quarter shows a 29 percent increase in home purchases from the prior quarter and a decrease in the number of refinances, suggesting a sustained recovery is beginning to come from purchases, Experian reported. Read More »

Purchase Loans Soar

Lending standards? What lending standards? Purchase loans are soaring as home buyers outmuscle refinancing home owners in the pursuit of mortgage credit. Read More »

Jersey Leads in Mortgage Fraud Factors

New Jersey was the only state to make it on all three top 10 lists for mortgage fraud and misrepresentation reported to MIDEX, potential collusion and property defaults, according to the LexisNexis® Risk Solutions 15th Annual Mortgage Fraud Report. Read More »

Credit Unions Grow Mortgage Business

Credit unions continued to steal market share from other mortgage lenders, originating 2.5 percent more first lien mortgages in the second quarter than the first and growing 5.6 percent over the same period last year. Read More »

Fewer Delinquencies Cost Lenders Jobs

For the past six years, mortgage delinquencies, often a result of homeowners losing their jobs, created employment among mortgage servicers who process delinquencies and defaults. Now the shoe is on the other foot as declining numbers of delinquencies are costing lenders jobs. Read More »

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