Are mortgage rates about to fall?
Mortgage rates and the bond market have fallen a bit recently and the spreads between the 10-year yield and 30-year mortgage rate have improved over last year’s levels. In the past two years, demand has always picked up whenever mortgage rates have moved lower with some duration. Even last week, purchase apps grew week to week. What should we expect this week and what should we focus on fo...
What to know before you buy a house overseas — and 3 steps to smooth the process
Buying a property abroad can be a dream for many Americans. But it's not a decision one should make on whim; multiple factors can easily complicate the process.
Better taps Chad Smith as new president and COO
Holding company Better Home & Finance hired Chad Smith to be the president and chief operating officer of its mortgage business, it announced on Friday. Kevin Ryan, who previously held the position of president, will continue serving the company as chief financial officer. Before joining Better, industry veteran Smith was the CEO of Mission Loans from Decembe...
Assumable mortgage platform Roam partners with national lender on down payment assistance
New York-based assumable mortgage platform Roam rolled out a new partnership with national lender Spring EQ to provide second-lien loans to Roam customers, the company announced on Thursday. The new service, Roam Boost, will cater to people with credit scores of at least 640 and down payments of at least 15%. Consider, for example, a home that costs $400,000, with an assumable mortgage a...
Rental properties can help agents build a sphere of influence
In the competitive world of real estate, where countless sources offer strategies to help agents generate more leads and drive business growth, a simple but often overlooked method stands out: rental properties. According to the U.S. Census Bureau’s most recent Rental Housing Finance Survey, there are approximately 18.8 million rental properties in the country with four or fewer units. A...
The month in reverse mortgage rates: May 2024
In March, we explored the difference between Home Equity Conversion Mortgage (HECM) “expected rates” and “note rates” and why most reverse mortgages depend on these two interest rates. In April, we specifically focused on expected rates. We showed that when expected rates increase and round up to the next 1/8% (0.125%), the principal available to a prospect is typically red...
DeSantis stamps changes to reverse mortgage tax requirements in Florida
Florida Gov. Ron DeSantis (R) signed a bill into law this week that changes certain requirements for the state’s reverse mortgage borrowers, a move that the National Reverse Mortgage Lenders Association (NRMLA) says could save money on closing costs. The new law, House Bill (HB) 7073, changes the way the state’s “documentary stamp tax” can be applied to reverse mortgage...
NAR board votes to leave dues unchanged in 2025
The National Association of Realtors’ (NAR) board of directors voted to leave member dues unchanged in 2025. The vote occurred Thursday during the final day of NAR’s midyear conference, the Realtors Legislative Meetings, according to Inman, which first reported the story. During the meeting, NAR’s board approved a recommendation from its finance committee to keep annual dues ...
Ahead of trial date in HMDA case, Freedom Mortgage and CFPB face hurdles
The Consumer Financial Protection Bureau (CFPB) and Freedom Mortgage were handed minor setbacks by the presiding and magistrate judges, respectively, in a case that the regulator brought in widespread violations in its 2020 submission of Home Mortgage Disclosure Act (HMDA) data. The development was first reported by National Mortgage News. The original case was filed in the U.S. District Court...