The new report found the median age for typical active-duty military personnel homebuyer was 34, compared to 42 for civilians. Active-duty military personnel homebuyers were also more likely to be married, have children and favor larger homes than their civilian counterparts. This demographic typically has lower median incomes ($84,000), albeit with more stable job security.
The report also found that 56 percent of active-duty military personnel and 41 percent of veterans put no money down when buying a home. Only seven percent of non-military buyers go that route. And when it comes to relocation, 82 percent of active-duty military personnel will move for their job, while 33 percent admitted they sought to profit from flipping their home and 11 percent were seeking a better neighborhood.
As company reports second straight quarterly loss, it announces plans to exit its wholesale business by Oct. 31, 2022.
loanDepot, the nation’s second-largest retail mortgage lender, has so far cut nearly 4,000 jobs since the end of last year, but today said it plans to cut something else: its wholesale lending business.
The company made the announcement as it released its earnings for the s...
Q2 net income was up 55% from last year, while originations were down nearly 50% YOY
Facing higher mortgage rates and a cooling housing market, UWM Holdings Corp. (UWM) saw its mortgage originations cut nearly in half in the second quarter, but still managed to increase profit year over year.
The publicly traded parent of United Wholesale Mortgage today rep...