The transaction includes about 123 loans and is expected to close by August
Refi activity also rose to 46.6% of total mortgage applications from 45.4%
The regulatory chains on the mortgage industry do not appear to be loosening anytime soon, but it's not all bad.
FICO has been the gold standard for FHA mortgages, but supporters of a different system claim it can better predict a borrower’s creditworthiness by looking at nontraditional sources.
Recent reductions in mortgage interest rates have expanded the population of borrowers who could benefit from refinancing, and now is the time for borrowers to lock in low rates.
What's going on in the mortgage industry today? With all the changing rules and regulations, it's hard to keep up with how housing fundamentals are doing. Take a look at five trends that showed the biggest impact during the last four months.
More than 40 California organizations are calling on the regulator to provide more transparency to the HMDA and to address measurements needed for home loans and mortgage modifications.
Millennials can text with their eyes shut, multi-task all day long and somehow keep in touch with everyone they’ve ever met. But when it comes to buying a home, they’re woefully in the dark about their options. Here, industry experts give their advice on successfully marketing to millennials.