Private lending: What’s in store for the space?
State regulations a persistent challenge to private lending growth The space made $8 billion in securitizations last year, with $12 billion targeted for 2025, according to Hornik. “We’re looking for an up year, both DSCR and RTL, and the real thing we’re going to focus on is regulation in certain states and what states to […]
Motto Mortgage expands in Missouri, independent brokerage joins network
Left to manage critical operations on their own, the firm looked for an alternative and transitioned to Motto Mortgage’s franchise model for its compliance tools, loan origination system, and operational support. “Our team was able to work with Motto HQ to seamlessly transition our office to a Motto Mortgage franchise, quickly get set up on […]
California home sales decline – CAR
Impact of high rates and wildfires High mortgage rates continued to suppress market activity. The average 30-year fixed mortgage rate stood at 6.96% in January, up from 6.64% a year ago. However, rates have been gradually declining in recent weeks, which could provide some relief to the market in the coming months, CAR noted. The […]
Non-QM REIT MFA Financial ends year with mixed results
MFA continued expanding its non-QM portfolio, adding $470.1 million in new acquisitions during the quarter, bringing the total to $4.4 billion. Its lending subsidiary, Lima One, originated $151.1 million in business-purpose loans and generated $8.5 million in mortgage banking income. The company also increased its holdings in agency mortgage-backed securities (MBS), purchasing $463 million during […]
Mortgage Rates Back Below Year-Ago Levels as We Head into Spring
As anticipated, mortgage rates are back below their year-ago levels. I had suspected they would be, despite a rough couple of months pre- and post-election. There’s been a lot of uncertainty lately, but bond yields have also cooled thanks to friendlier economic data and a reprieve on most tariffs. Mortgage rates are also simply better […]
“It’s 100% a buyer’s market right now” – or is it?
“Most sellers here know the market is bad and it’s not advantageous to sell right now, but either they’re tired of waiting for things to improve, or they really have to sell because they are moving out of state. For buyers, this means there are more opportunities to negotiate on price and terms.” Meanwhile, in […]
No 20% down? No problem! The homeownership hack first-time buyers need to know
“A lot of communities here qualify for USDA loans, and many buyers don’t even realize they’re eligible,” he said. “It’s a fantastic product because it eliminates the biggest hurdle – down payment costs. I’ve worked with buyers who had less than $2,000 in their account, yet we were able to get them into a home […]
MBA announces new partnership | Mortgage Professional
Mark Doyle, president of National Van Lines, noted that the partnership aligns well with the association’s mission. “The NationalExpress Move affiliate program is a perfect fit for MBA members,” Doyle said. “It helps loan originators diversify their business, and it allows us to partner with the premier residential and commercial mortgage banking association.” As part […]
Forbearance requests rise, but exits outpace new entries: MBA
As forbearance levels continue to shrink, the number of borrowers in permanent loan workouts has grown. The percentage of loans in some form of completed workout – such as repayment plans, deferrals, or modifications – rose to 6.53% in January, up from 6.41% in December and 6.04% a year earlier. Mortgage performance improved overall, with […]
Rocket Mortgage introduces new rewards program
“Many renters feel like homeownership is out of reach – especially as they try to save money to take to the closing table,” said Bill Banfield, chief business officer and economist at Rocket Mortgage, said in a Press release. “RocketRentRewards eases those concerns by rewarding clients for simply making their rent payments.” The launch of […]