Housing Wire

MARCH 8, 2024

Everyone was waiting to see if this week’s jobs report would send mortgage rates higher, which is what happened last month. Job gains occurred in health care, in government, in food services and drinking places, in social assistance, and in transportation and warehousing. percent, the U.S. Bureau of Labor Statistics reported today.

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Housing Wire

APRIL 5, 2024

As a result, mortgage rates are likely going to stay elevated for longer.” Meanwhile, mining, quarrying, oil and gas extraction, manufacturing, wholesale trade, transportation and warehousing, information, and financial activities posted fewer jobs in March. The job openings rate was steady at 5.3% million and a rate of 2.2%

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Housing Wire

OCTOBER 6, 2020

Talk to any mortgage technologist about the future of the industry and two topics will emerge immediately: big data and smarter automation. Joe Camerieri, EVP Mortgage Cadence. Today, while the mortgage industry has the technology to support this, we’re still in the early stages of determining how it should be used.

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Housing Wire

FEBRUARY 16, 2024

A bill introduced in the New Jersey Senate would require face-to-face counseling for the state’s reverse mortgage transactions and would nullify any loans originated without proof of such counseling having taken place. 13 by the National Reverse Mortgage Lenders Association (NRMLA). New Jersey State Sen.

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Housing Wire

AUGUST 5, 2024

The budget also adds support for a virtual senior center, specifically for older members of the state’s LGBTQ+ community; funds a dementia care coordination program; and makes regional bus fares free, although that provision does not impact service from the Massachusetts Bay Transportation Authority (MBTA).

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Housing Wire

JUNE 22, 2023

This also applies to mortgage financing, despite Southern residents applying for mortgage loans at the same rate as the rest of the nation. report, the data focuses on banking and credit access, and mortgage lending in particular, for both rural and non-rural areas of the region.

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Housing Wire

JUNE 28, 2024

This is according to the Reverse Mortgage Market Index (RMMI), a measure of senior-held home equity maintained by the National Reverse Mortgage Lenders Association (NRMLA) and data analytics firm RiskSpan. trillion in the first quarter, an all-time high, tempered somewhat by an increase in senior-held mortgage debt to $2.35

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Housing Wire

JUNE 3, 2022

Although housing inventory is beginning to increase, demand continues to exceed supply even as mortgage rates have spiked,” Mike Frantantoni, the Mortgage Bankers Association’s SVP, said in a statement. from June 2021, when 297,600 workers were employed at mortgage banking firms. higher than its pre-pandemic level.

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Housing Wire

MARCH 26, 2025

In the 1960s, Black residents werent qualified for mortgages in places like Altadena. As a result, thousands of Black homes and businesses were destroyed and those that chose to stay behind were subjected to noise and auto emissions, according to a research report by the UCLA Institute of Transportation Studies.

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Housing Wire

DECEMBER 3, 2021

In 2021, the message became clear: mortgage lenders must adapt to survive. The lion’s share of the month’s employment growth came in the professional and business services (90,000 jobs), and transportation and warehousing (50,000 jobs), sectors. Transportation and warehousing now had 210,000 more jobs than its pre-pandemic level.

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Housing Wire

JULY 13, 2022

When thinking about ESG in RMBS, right now there are three considerations that can help the mortgage market properly capitalize on the momentum behind the ESG movement. To get there, first, Residential Mortgage-Backed Security (RMBS) issuers, investors, and rating agencies should avoid trying to boil the ocean.

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Housing Wire

DECEMBER 2, 2022

The entire economic landscape, including mortgage rates, has changed this week, starting with the Fed’s talking points on Wednesday. The Fed didn’t want mortgage rates to go lower or the stock market to rally. Employment declined in retail trade and transportation, and warehousing. We shall see. percent, the U.S.

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Housing Wire

MAY 3, 2024

Job gains were most notable in health care (+56,000), in social assistance(+31,000), and in transportation and warehousing (+22,000). Mortgage rates would also come down, making it less expensive for homebuyers to borrow money to purchase a home,” Sturtevant said. “On

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Housing Wire

JUNE 28, 2022

There’s no question that a digital-first way of doing business is becoming the norm and the demand for digital in the mortgage industry is only growing. HousingWire: Is this the year that digital mortgages and eClosings really accelerate? HousingWire: Is this the year that digital mortgages and eClosings really accelerate?

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Appraisal Buzz

JANUARY 27, 2025

Census Bureaus definition of a mobile home (aka manufactured home) as a movable dwelling, eight-feet or more wide and 40-feet or more long, designed to be towed on its own chassis, with transportation gear integral to the unit when it leaves the factory, and without need of a permanent foundation.

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Housing Wire

DECEMBER 4, 2023

mortgages had an interest rate below 5%, according to Zillow. Meanwhile, the average 30-year fixed mortgage rate topped 8% in October. As a result, many homeowners stayed put and kept their mortgages and postponed listing their homes. As of July 2023, about 80% of outstanding U.S.

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Housing Wire

NOVEMBER 28, 2022

In addition, prices paid for transportation of products from China to the U.S. Now, this stressful aspect of transportation costs is gone and the fear of a downturn in the freight industry is taking hold. However, the biggest component of inflation isn’t the transportation cost of goods from China to the U.S.,

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Housing Wire

JANUARY 5, 2024

Job gains occurred mainly in government, health care, social assistance and construction in December, while transportation and warehousing posted fewer jobs. This week’s job openings data showed that the quits and hires ratio is also below pre-COVID-19 levels.”

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Housing Wire

DECEMBER 8, 2020

Mortgage lenders are preparing for the end of LIBOR , which is set to be phased out by the end of 2021. In fact, Freddie Mac began officially purchasing SOFR-based “floating rate mortgages” in October, and announced in a press release that it will “cease all LIBOR-indexed loan purchases by the end of the year.”.

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Housing Wire

MARCH 8, 2024

Job gains occurred mainly in health care, government, food services, social assistance, transportation and warehousing. However, the economic data we’re seeing now could cause the market to react, anticipating future Fed action, which could lower borrowing rates, including mortgage rates.

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Housing Wire

MARCH 14, 2023

The year-over-year increase can be attributed to large annual jumps in the indexes for transportation services (+10.2%), energy services (+13.3%), and food (+9.5%). Transportation services jumped 1.1% The current uncertainty brings an upside to the housing market: mortgage rates are in a downward trend. in January.

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Housing Wire

JANUARY 22, 2024

Indianapolis is a hub for logistics businesses, including the world’s second-largest FedEx Express hub and the divisional headquarters for freight and transportation giant CSX. Holle’s business was down about 10% in 2023 compared to 2022, which she attributes almost exclusively to elevated mortgage rates.

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Housing Wire

MARCH 10, 2023

Employment declined in information and in transportation and warehousing. Bureau of Labor Statistics reported today. Notable job gains occurred in leisure and hospitality, retail trade, government, and health care. How can the unemployment rate increase and we still have big job numbers printed?

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Housing Wire

JANUARY 17, 2024

However, as mortgage rates hit multi-decade highs , cooling demand and shrinking the pool of qualified buyers for new homes, homebuilders slowed their pace of construction, which settled at a plateau that is still well above pre-pandemic levels. Mortgage rates fell precipitously that week, although they remain above 6.5%.

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Housing Wire

JUNE 21, 2022

Recently, Intercontinental Exchange (ICE) announced a plan to acquire Black Knight in a reported $13 billion deal that, if approved by federal regulators, would certainly be one of the largest acquisitions ever in the mortgage technology space. Mortgage competition is critical. This is already a significant amount of data to own.

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Housing Wire

JULY 18, 2022

The Federal Housing Administration ’s (FHA) decision to withhold a mortgage insurance premium cut has confounded mortgage policy experts and industry stakeholders. based consultancy Potomac Partners , which specializes in the mortgage finance industry. “To The FHA’s Mutual Mortgage Insurance fund, meanwhile, is in stellar shape.

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Housing Wire

JANUARY 5, 2024

Employment continued growing in government, health care, social assistance, and construction, while transportation and warehousing lost jobs. No, but we don’t want the Fed to wait for jobless claims to break above 323,000 on the four-week moving average to cut mortgage rates. percent, the U.S. Bureau of Labor Statistics reported today.

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Housing Wire

NOVEMBER 1, 2022

WorkWave helps mobile workforce companies, and transportation and logistics industries to estimate jobs, schedule and route mobile workers, and bill customers. Through the acquisition, the companies will expand their offerings to include pest control, among other services.

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Housing Wire

JULY 14, 2022

billion manufactured home purchase mortgages in 2021, according to HMDA data. HUD offers insurance for manufactured housing mortgages under its Title I program, which is more than 50 years old. But the FHA appears reluctant to reduce borrower fees on FHA financing, one tool in its toolkit numerous mortgage stakeholders have argued for.

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Housing Wire

JUNE 2, 2023

Even though the pace of layoffs has picked up, many businesses, particularly in transportation, healthcare, and hospitality, continue to have strong demand for workers,” Mike Fratantoni , the Mortgage Bankers Association’s chief economist, said in a statement. The unemployment rate has remained between 3.4% since March 2022.

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Housing Wire

JULY 15, 2022

One statistic in the Mortgage Bankers Association ’s latest quarterly Mortgage Bankers Performance Report sticks out for all of the wrong reasons. A major factor driving non-sales costs is that we continue to re-enter, verify, and validate data at different checkpoints throughout the mortgage lifecycle.

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Housing Wire

AUGUST 6, 2020

Part of the reason behind the company’s decision to lower its expectations, industry insiders say, is that Rocket was getting pushback on its claims that it is a true tech company, as opposed to being viewed more broadly as a mortgage lender. People are trying to wrap their brains around how the mortgage process is being transformed.

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Housing Wire

MAY 16, 2022

HousingWire recently talked with Chris McEntee, vice president of ICE Mortgage Technology about the latest updates to the MERS eRegistry and what they mean for the industry. Chris McEntee: For over 25 years MERS has been integral in the mortgage industry’s evolution of moving from paper to eMortgages.

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Housing Wire

DECEMBER 2, 2022

In February 2020, a combined 300,000 were employed in “ real estate credit ” and as mortgage and nonmortgage loan brokers. Also worth noting as we enter the holiday season, employment in retail trade (down 30,000 jobs), and transportation and warehousing (down 15,000 jobs) decreased in November. Presented by: Change Wholesale.

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Housing Wire

AUGUST 25, 2023

Mortgage rates doubled in 2022, causing housing starts and sales to fall and house price growth to plummet. In fact, mortgage rates kept an upward trend in 2023, following the Fed’s moves to combat persistent inflation. On Friday, the 30-year fixed mortgage rate was 7.37% at Mortgage News Daily , the highest in over two decades.

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Housing Wire

APRIL 12, 2023

Despite the slower pace of inflation, economist do not believe home buyers facing still elevated prices on top of higher mortgage rates will be out of the woods any time soon. Higher mortgage rates have slowed demand by pricing some would-be buyers out of the market,” Sturtevant said.

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Housing Wire

AUGUST 4, 2024

Employment continued to trend up in health care, in construction, and in transportation and warehousing, while information lost jobs. As we all saw last week, the 10-year yield headed lower and closed at 3.79%, and mortgage rates are at the year’s lows. BLS Jobs report From BLS: The unemployment rate rose to 4.3

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