Mortage News

The average 30-year fixed mortgage rate hit its highest mark in six weeks, according to the latest Freddie Mac Primary Mortgage Market Survey (PMMS)
Fixed Mortgage Rate Hits Six-Week High
The average 30-year fixed mortgage rate hit its highest mark in six weeks, according to the latest Freddie Mac Primary Mortgage Market Survey (PMMS).   The 30-year fixed-rate mortgage (FRM) averaged 3.85 percent for the week ending Oct. 5... Read more
Delinquencies in three of the four loan categories related to housing were down in the second quarter
Housing-Related Loan Delinquencies Mostly Down
Delinquencies in three of the four loan categories related to housing were down in the second quarter, according to new data from the American Bankers Association (ABA).   Home equity loan delinquencies fell nine basis points (bps) to 2.50... Read more
Home Affordability Remains a Serious Challenge
There is good news and bad news on the home affordability, according to new research from ATTOM Data Solutions. The good news is that home affordability in the third quarter improved compared to the previous quarter in 60 percent of 406... Read more
The average Millennial mortgage borrower in August was a 29.4-year-old who took out a conventional loan of $185,919
New Data Identifies the Average Millennial Mortgage Borrower
The average Millennial mortgage borrower in August was a 29.4-year-old who took out a conventional loan of $185,919 to purchase a home with an average appraised value of $223,882, according to a data analysis from Ellie Mae, which also... Read more
The Consumer Financial Protection Bureau (CFPB) issued an interim final rule and a proposed rule to provide mortgage servicers designed to alleviate and clarify requirements related to communicating with borrowers
CFPB Tinkers With Mortgage Servicing Rules
The Consumer Financial Protection Bureau (CFPB) issued an interim final rule and a proposed rule to provide mortgage servicers designed to alleviate and clarify requirements related to communicating with borrowers.   According to the CFPB... Read more
The timeline covering the mortgage process from initial shopping to closing is becoming faster, according to a new study conducted by Charlotte, N.C.-based LendingTree
Study Finds Increased Speed in the Mortgage Process
The timeline covering the mortgage process from initial shopping to closing is becoming faster, according to a new study conducted by Charlotte, N.C.-based LendingTree.   In an analysis of more than 5,000 closed home loans, LendingTree... Read more
New American Funding has named Scott Bristol as its new Senior Vice President, National Sales Manager
New American Funding Expands NorCal Footprint With New Sonoma County Branch
New American Funding, a leader in the mortgage industry, has expanded its Northern California territory to include a brand new location in the Sonoma County market in the town of Santa Rosa, Calif.   “We do everything in-house and we... Read more
Gateway Mortgage Group has partnered with the Texas Veterans Land Board as the administrator over loan originations in the Veterans Housing Assistance Program (VHAP)
Gateway Mortgage Group Partners With Texas Veterans Land Board
Gateway Mortgage Group has partnered with the Texas Veterans Land Board as the administrator over loan originations in the Veterans Housing Assistance Program (VHAP). Texas VLB loans are available to Texas residents who served in any... Read more
First American Mortgage Solutions LLC, a part of the First American family of companies, has announced it is one of a few vendors able to offer data verification for all three components of Fannie Mae’s Desktop Underwriter (DU) validation service and Day
First American Mortgage Solutions Approved as a Day 1 Certainty Vendor
First American Mortgage Solutions LLC, a part of the First American family of companies, has announced it is one of a few vendors able to offer data verification for all three components of Fannie Mae’s Desktop Underwriter (DU) validation... Read more
New American Funding has named Scott Bristol as its new Senior Vice President, National Sales Manager
New American Funding Recognized With a Stevie Award
The Stevie Awards for Great Employers have selected New American Funding as winner of the 2017 Gold Award for “Employer of the Year in Financial Services.” This is the second consecutive year that New American has claimed the top prize in... Read more