The Federal Housing Finance Agency (FHFA) reported that Fannie Mae and Freddie Mac completed 299,466 refinances during the second quarter, down from 356,002 in the first quarter. The second quarter saw 2,973 loans were refinanced through the Home Affordable Refinance Program (HARP) that is set to expire at the end of the year.
According to the FHFA, 49,094 borrowers could still benefit from a HARP refinance before the program runs its course. Ten states accounted for more than 70 percent of borrowers who remain eligible for HARP: Illinois, New Jersey, Ohio, Florida, Michigan, Pennsylvania, Maryland, Alabama, Georgia and New York.
Separately, Bankrate reported the average 30-year fixed-refinance rate is now at 4.39 percent, down six basis points from a week ago. The average rate for a 15-year fixed refi is 3.79 percent, down five basis points over the last seven days, and the average rate for a 10-year fixed-refinance loan is 3.69 percent, down seven basis points over the last week.
Location will be headed by branch manager Jesse Seidel.
Geneva Financial, a direct mortgage lender, has announced the opening of a new branch in Greenwood Village, Colo., led by branch manager Jesse Seidel.
Seidel and his new branch serve homebuyers throughout the state and over 15 other states ac...
Rick Hogle will manage overall performance of retail operations.
Cherry Creek Mortgage, a nationwide, full-service mortgage lender, announced Rick Hogle has joined the company as chief revenue officer, where he will manage the overall performance of Cherry Creek’s retail operations.
In his new role, Hogle will oversee the growth and deve...
The legal battle between REX Home Loans (Real Estate Exchange, Inc.) and NAR continues to heat up, even though REX is reported to have shut down operations.
Sustainable Communities Innovation Challenge seeks ideas to advance racial equity in housing, focusing on addressing supply, funding and credit barriers.