“It’s just stunning,” McDonald told CalMatters. “I’ve been working for insurance companies for more than 20 years. I’ve never had a check bounce to a claimant in 25 years of practice.” On July 10, the check finally cleared. A bank manager reportedly told McDonald the hold was due to uncertainty over whether the funds would
Cotality data from 2025 shows that while serious mortgage delinquencies, defined as homeowners who are 90 days or more past due on a payment, fell steadily for more than three years, the trend reversed in mid-2024. The top three states with the highest year-over-year changes in their serious delinquency rates are Florida, South Carolina and
Help from the Federal Reserve in the form of lower benchmark rates is unlikely to arrive this month. The CME Group’s FedWatch tool on Tuesday showed that 95% of interest rate traders believe the federal funds rate will remain in a range of 4.25% to 4.5% when the Federal Open Market Committee meets at the
Falcon sat down with HousingWire to offer his perspective as a predecessor of Pulte’s and to showcase Falcon Capital Advisors’ new digital asset practice that advises mortgage lenders on how to safely incorporate crypto and other digital currencies into their businesses. This interview has been edited for length and clarity. Sarah Wolak: Can you tell
Why traditional income docs fall short — and why demand is rising Tax returns often understate self-employed income because of legal deductions and fluctuating revenue. Conventional underwriting can therefore misrepresent a borrower’s true ability to repay. Bank Statement Loans solve this by measuring real deposit-giving lenders with a clearer picture of sustainable earnings. The trend:
Phil Crescenzo, the Southeast division vice president for Nation One Mortgage Corp., says that the new directive is “too narrow” to impact homebuyers since it’s only targeting conventional loans via the government-sponsored enterprises (GSEs). “If a borrower already has stocks or retirement accounts, an underwriter may not even factor in the crypto,” Crescenzo said. Alternative
What stood out from the end of June data was the refinance index increasing 7% from the previous week and coming in 40% higher than the same week one year ago. The refinance share of mortgage activity increased to 40.1% of total applications from 38.4% the previous week. “Mortgage rates were lower across all loan
Much of the recent movement in rates can be tied to the Trump administration’s political machinations at the Federal Reserve. The president has continued to point fingers at Fed Chair Jerome Powell for failing to lower rates more quickly, even as inflation nears the Fed’s goal of 2% per year and unemployment remains relatively low
10-year yield and mortgage rates In my 2025 forecast, I anticipated the following ranges: Mortgage rates between 5.75% and 7.25% The 10-year yield fluctuates between 3.80% and 4.70% We had a lot of drama again last week, with speeches by Federal Reserve Chairman Jerome Powell and other regional Fed presidents, and then President Trump starting
Along with the rise in equity, total mortgage debt has actually fallen by a marginal amount — from $13.4 trillion in 2012 to $13.3 trillion in 2024. This figure has been relatively flat in the post-pandemic period after rock-bottom mortgage rates helped to keep debt down. This is good news for seniors looking to remodel