Fannie and Freddie 2024 loan limits upped to $766,550 in most areas
Surge in Q3 home prices pushes mortgage giants' conforming loan limits in high-cost housing markets to $1,149,825 for single-unit properties, and up to $2,211,600 for 4-unit properties
by Matt Carter Nov 28
Homebuyers respond to biggest drop in mortgage rates this year
Purchase mortgage applications trended up last week for the first time in a month as mortgage rates retreated from 2023 highs, according to the MBA's weekly survey of lenders
by Matt Carter Nov 8
Big drop in mortgage rates as unemployment hints at recession
After breaching 8% in mid-October, 30-year fixed mortgage rates have plummeted to levels not seen since September as more investors expect Fed policymakers to lower rates in the spring
by Matt Carter Nov 3
Mortgage software provider Vesta powering Upstart's HELOC launch
Since announcing a $30M Series A funding round last year, Vesta has added partners and integrations at a rapid clip, including Willow Servicing, a cloud-based mortgage servicing platform
by Matt Carter Nov 2
LoanDepot lets buyers cover FHA down payment with 2nd mortgage
Available everywhere except New York, loanDepot's new 'accessZERO' program provides a down payment of up to 5% in the form of a 10-year fully amortized 2nd mortgage
by Matt Carter Oct 31
Here's how property managers can fight the effects of inflation
How can forward-thinking property managers mitigate the effects of inflation? It requires informed strategies and creative thinking. Here’s our approach.
by Michael Zaransky Oct 30
VantageScore: New scoring model could qualify 4.9M extra borrowers
Company puts heat on regulators to stick to 2025 timetable for requiring lenders working with Fannie and Freddie to use VantageScore 4.0; delays would impact 'creditworthy people of color'
by Matt Carter Oct 30
New Boom API to scale reporting of tenant payments to credit bureaus
New product will allow virtually any large-scale property management platform or rent payment gateway to directly embed its payment reporting module for simpler tenant payment reporting
by Craig C. Rowe Oct 30
Project to tackle appraisal bias continues with Nov. 1 hearing
The public is invited to join leaders from the American Bankers Association and mortgage giants Fannie Mae and Freddie Mac for an Appraisal Subcommittee hearing on tackling bias
by Matt Carter Oct 23
Existing-home sales droop as mortgage rates hit 20-year highs
Home sales fell 2% between August and September and retreated 15.4% from a year ago as prices and interest rates climbed
by Ben Verde Oct 19
FHA will consider rent from ADUs when qualifying borrowers
HUD says policy change is intended to help more first-time homebuyers, seniors, and inter-generational families tap the wealth building potential of homeownership
by Matt Carter Oct 19
TransUnion knocks plan to let lenders use 2 credit reports
The plan to move to a bi-merge process allowing lenders to use 2, instead of 3, credit reports was announced last October by FHFA, Fannie Mae and Freddie Mac's federal regulator
by Matt Carter Oct 16
Housing groups including NAR float wonky idea to cut mortgage rates
NAR united with lending groups on Thursday to urge the Fed to maintain its current mortgage holdings in order to narrow a wide 'spread' between 10-year Treasurys and rising mortgage rates
by Matt Carter Oct 13
More lenders raise their conforming loan limit to $750K
Following Rocket's lead, UWM and Guaranteed Rate say they'll price mortgages of up to $750K as if they're eligible for purchase by Fannie Mae and Freddie Mac in anticipation of 2024 increases
by Matt Carter Oct 11
Interest rates surge again on surprisingly strong jobs report
Employers added 336,000 jobs in September, the biggest jump since January, raising the odds that the Fed will pursue 'higher for longer' rate strategy to get inflation under control
by Matt Carter Oct 6