Lending

New-home mortgage applications drop 9% in May
New-home mortgage applications drop 9% in May

Mortgage applications for new-home purchases fell 9% on a monthly basis and 5.9% on a year-over-year basis in May, the Mortgage Bankers Association reported, citing its Builder Application Survey.

The trouble  with appraisals: How the wild market is making it harder to get financing
The trouble with appraisals: How the wild market is making it harder to get financing

Homebuyers lucky enough to win a bidding war for a property are increasingly running headlong into appraisals that don’t match — or even come close to — the agreed sales price, leaving them with limited ways to close the sale.

Mortgage applications dip as rate increases in latest MBA survey
Mortgage applications dip as rate increases in latest MBA survey

“This is a sign that the competitive purchase market, driven by low housing inventory and high demand, is pushing prices higher and weighing down on activity.” — Mortgage Bankers Association Associate Vice President of Economic and Industry Forecasting Joel Kan

Guaranteed Rate launches tech company
Guaranteed Rate launches tech company

The new technology streamlines workflow in the mortgage industry.

Guaranteed Rate Super Bowl ad inspires positivity
Guaranteed Rate Super Bowl ad inspires positivity

The ad is part of their national brand campaign, Believe You Will, which encourages the power of positive thinking and believing you can accomplish your goals.

Loan limit boost of 7.4% good for Miami buyers
Loan limit boost of 7.4% good for Miami buyers

This means homebuyers will be able to borrow up to the new level without triggering higher interest rates.

Will COVID-19 push appraisals toward automation?
Will COVID-19 push appraisals toward automation?

Both the way appraisers approach their work and the adoption of AVMs and other technology-based valuations will likely see major changes in the coming years, according to experts.

Will forbearance backfire? What to tell clients about their options
Will forbearance backfire? What to tell clients about their options

Some homeowners worry that, after a few months of forbearance, they’ll be required to pay everything they owe upfront, in one lump sum.

Government-backed loan program is just the beginning
Government-backed loan program is just the beginning

Small business owners could help keep their businesses running through a combination of Paycheck Protection Program loans and private loans.

Buyer experience improving with mortgage lenders
Buyer experience improving with mortgage lenders

But beware of the busy times: Customer satisfaction rates drop when loan volume increases.

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