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Mortgage Credit Availability Tightens in September 

Appraisal Buzz

While increases in the index point to looser credit, a decrease in the MCAI suggests tighter lending requirements. Conventional lending programs that are not subject to conforming loan restrictions are examined by the Jumbo MCAI, whereas those that are are examined by the Conforming MCAI.

Mortgage 387
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Will mortgage lending get tighter in the next recession?

Housing Wire

As recession talk becomes more prevalent, some people are concerned that mortgage credit lending will get much tighter. One of the biggest reasons home sales crashed from their peak in 2005 was that the credit available to facilitate that boom in lending simply collapsed. The short (and long) answer is no, not a chance.

Lending 501
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Rocket to Purchase Redfin for $1.75B

Appraisal Buzz

Founded in 2004, Redfin operates a home search platform with more than one million for-sale and rental listings and a tech-powered brokerage of more than 2,200 agents. Rocket and Redfins approaches to lending and brokerage service have always been two halves of one vision to make the whole home-buying process magical, said Kelman.

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Glenn Stearns’ Kind Lending originates $1B in 6 months

Housing Wire

Kind Lending , national wholesale mortgage lender and second brainchild to mortgage veteran Stearns, announced that the lender originated $1 billion in the first six months of production – a feat that took Stearns first company, Stearns Lending , 15 years to accomplish. We are thrilled to introduce Kind Lending to the world.

Lending 370
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Rise in Mortgage Credit Availability Offers Buyers More Options

Appraisal Buzz

While an increase in the index signifies loosening credit, a decrease in the MCAI suggests tightening lending rules. Conventional lending programs that come inside conforming loan limitations are examined by the Conforming MCAI, whereas conventional programs outside of conforming loan limits are examined by the Jumbo MCAI.

Buyers 221
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A new source of affordable housing inventory: Private seller auctions

Housing Wire

We had to take back some properties where we dont have a large real estate operation, so we didnt want to keep them, said Sims, general partner at Constitution Lending , a Connecticut-based real estate lender providing fix-and-flip and long-term loans to real estate investors. His first Auction.com purchase was in December of that year.

Sellers 338
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Mortgage Credit Availability Jumps Again in August

Appraisal Buzz

While increases in the index point to looser credit, a decrease in the MCAI suggests tighter lending requirements. Conventional lending programs that are not subject to conforming loan restrictions are examined by the Jumbo MCAI, whereas those that are are examined by the Conforming MCAI. In August, the MCAI increased by 0.9%

Mortgage 414