"Digital mortgage closings–especially during this time of social distancing and state stay-at-home orders–provide a safe, fast and convenient experience for all parties involved in a real estate transaction,” said Mike Fratantoni, president of MISMO and Mortgage Bankers Association chief economist and senior vice president of research and industry technology. “Expanding the availability of RON is a priority for MBA and MISMO, and this new certification program is intended to provide comfort to lenders and others that certified vendors are complying with MISMO’s RON standards.”Pending sales fell to their lowest level since early April, but lower asking prices and reduced competition give originators more options to structure deals for qualified borrowers
Higher mortgage rates are thinning the purchase pipeline, even as lower asking prices and reduced competition give borrowers still in the market more leverage.Seasonally adjusted U.S. pending home sales totaled 322,739 during the four weeks ending July 26, their lowest level...
Younger teachers, health care workers, first responders, and military households can afford median-priced homes in only a fraction of major metros
Stable employment is no longer enough to put homeownership within reach for many teachers, health care workers, first responders, and military families, particularly younger and single-income buyers.A Homes for Heroes analysis found that established households in those profe...
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