by mdibrino@hqmloans.com | May 16, 2023 | Uncategorized
In a blog commentary, Woodwell noted sales activity in the first quarter was down 56% year over year as delinquency rates rose and underwriting standards for commercial and multifamily mortgages continued to tighten. Still, MBA anticipates borrowing and lending to...
by mdibrino@hqmloans.com | May 16, 2023 | Uncategorized
First Home Mortgage has tapped industry veteran Jodi White (pictured) to oversee its newly opened branch in Gainesville, Va. The new branch manager brings over 27 years of experience. White spent the past five years at First County Mortgage, where she most recently...
by mdibrino@hqmloans.com | May 16, 2023 | Uncategorized
Paramount Residential Mortgage Group (PRMG) has launched a new non-qualified mortgage (non-QM) offering designed for cannabis industry workers. “Although cannabis is legal for recreational use in 22 states, it’s labeled as a Schedule I substance according to federal...
by mdibrino@hqmloans.com | May 15, 2023 | Uncategorized
“Home buyers and sellers finally have been adjusting to mortgage rates over 6% this spring, but a debt default could potentially raise borrowing costs even higher and send the market into a deep freeze,” said Jeff Tucker, senior economist at Zillow. Zillow noted that...
by mdibrino@hqmloans.com | May 15, 2023 | Uncategorized
Yet challenges continue “On the more challenging side we’re finding that lenders are having a very, very hard time putting out term sheets and committing to deals,” he said. “From talking to a lot of lenders, the crux of the issue isn’t that they’re uncomfortable with...
by mdibrino@hqmloans.com | May 15, 2023 | Uncategorized
While its servicing business generated a revenue of $65.7 million, a change in the fair value of Home Point’s mortgage servicing rights (MSRs) outweighed the gain. The company posted a $139.8 million loss on its MSRs, with a total unpaid principal balance of $88.38...
