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
The named officials at the now-defunct lender include former chief financial officer Christopher Wright, former president and chief production officer Shea Pallante, and former chief credit officer Elliot Salzman. “Plaintiffs have had four opportunities over the course of more than two years to plead a viable case,” U.S. Magistrate Judge Lee Dunst wrote, noting that
Gen Z veterans and service members led all age demographics in the growth of borrower activity — including a 459% increase in VA refinance loans. Gen Z also claims a 12% share of the VA purchase market, triple their share from just three years ago. For comparison, Gen Z buyers comprised only 3% of the
‘Little urgency to cut rates’ The odds of a rate cut by the Federal Reserve have steadily dropped during the spring and are a virtual lock to remain unchanged this week. According to the CME Group’s FedWatch tool, 99.8% of interest rate traders think the Fed will leave benchmark rates at a range of 4.25%
The median down payment has hovered around 15% since the COVID-19 pandemic, up from 10% in preceding years. Down payments last declined in the summer of 2023, driven by falling home sale prices. While home prices are increasing today — rising 1.4% year over year in April — home-price growth has slowed and is contributing
Jacobson and Sturges worked together at Waterfield Mortgage “decades ago and have remained industry acquaintances ever since,” Jacobson said in a statement. The acquisition brings a smaller but regionally focused team into Fairway’s fold. Hallmark had 45 sponsored loan officers and 19 active branches as of Wednesday, per Nationwide Multistate Licensing System (NMLS) data. Fairway,
Mortgage rates popped back up to 7% in the aftermath of the new global tariff regime announced by President Donald Trump on April 2, as it tanked stock markets, the bond market and the dollar all at once. Most of those tariffs have since been paused or reduced until July, and stock markets have largely
This is according to HECM endorsement data compiled by Reverse Market Insight (RMI), and HMBS issuance data from Ginnie Mae and private sources compiled by New View Advisors. HECM endorsements: steady despite headwinds When asked about why business has remained so stable, RMI President John Lunde said that while originators can offer their own thoughts,
In a session dubbed “The CTO Playbook,” Bressler told audience members that he considers the use of AI as a form of “empowerment” and “protection.” “What we need to understand is that AI is not some experience at the end of the day … it is a predictive analyst,” he said. “But everything, as you
The 30-year conforming rate has been relatively volatile since the start of the year, but its low point for 2025 came on April 11 when it reached 6.69%. That’s a higher number than many consumers and mortgage professionals would like, although home sales and mortgage demand are up from one year ago. Fed’s Waller on