New technology and policy changes at Fannie Mae and Freddie Mac spur innovations by Guild Mortgage and Ready Life to help borrowers without credit scores and good payment histories
30-year loans of up to $5M provided by Florida-based Milo Credit LLC allow investors to avoid capital gains taxes — and don't require down payments, credit scores or US citizenship
After unloading $218M in unrated residential transaction loans in June, CEO Michael Bourque said markets for such deals 'are certainly tough right now'
Longer loans, including a 50-year concept recently floated in the UK, are sometimes framed as a way to improve housing affordability. But the experts aren't convinced
Purchase loan applications continue to be weaker 'due to the combination of much higher mortgage rates and the worsening economic outlook,' said MBA forecaster Joel Kan
Rising rates took their toll not only on refinancing but on homebuyer demand for purchase loans in June, according to an analysis of rate lock data released Monday by Black Knight
Fannie Mae finds 81% of Americans think the economy is on the wrong track, but the share of consumers who think it's a good time to buy ticked up in June
Failures raise questions about the viability of a small but growing corner of the mortgage business that largely serves self-employed borrowers
Investment management firm acquired nonbank mortgage lender First Guaranty Mortgage as part of broader strategy to serve lower end of market
The partnership integrates Indecomm's automated income calculation technology, IncomeGenius, into the Roostify Beyond platform to analyze income of self-employed borrowers
Non-QM lender fires three-quarters of its workforce, saying it's experienced 'significant operating losses and cash flow challenges' and has been unable to obtain funding
Opinion
This week, Byron Lazine and Nicole White discuss Fannie Mae's new prediction for existing-home sales, summer marketing and the Marketeer
Higher mortgage rates are now 'housing market's primary constraint,' economists at Fannie Mae said in a new forecast predicting home sales will fall 13.5% this year
Only 17% of Americans surveyed in May said it was a good time to buy a home, breaking previous record lows of 19% seen in April and 24% in March
The 'coding issue’ reportedly affecting about 12 percent of credit scores calculated from March 16 to April 6, 2022, has been corrected, according to the company.