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Category: Correspondent Lenders

IMPAC Correspondent Debuts iQM at the 2016 MBA Secondary Conference

Category | Correspondent Lenders | Correspondent Lending News | Impac Mortgage Corp. News
iQM-MBA Secondary Conference 2016 The secret is out. IMPAC Mortgage introduced iQM - the next evolution of AltQM™ at the 2016 MBA Secondary Conference in New York. iQM brings something the mortgage industry has needed for a long time – an even better way to serve creditworthy borrowers who don’t qualify under conventional loan guidelines. iQM adds a human element into underwriting to help identify borrowers who have a strong ability and willingness to pay. Conference attendees learned that they will soon have acces

Freddie Mac receives largest-ever insurance policy

Category | Correspondent Lenders | Correspondent Lending News | Financial Regulations | Impac Mortgage Corp. News | Loan Resources
Freddie Mac recently received its largest insurance policy ever. In a recent press release, Freddie Mac revealed that it has acquired an insurance policy worth more than half a billion dollars, making it the largest insurance policy the corporation has ever received. This policy brings the total insurance coverage Freddie Mac has obtained this year to about $2.2 billion. It was only about a month ago that Freddie Mac received its previous "largest insurance policy ever," which also reached over half a billion dollars and transferred a substantial amoun

What’s ahead for the housing market in 2016

Category | Correspondent Lenders | Correspondent Lending News | Financial Regulations | Impac Mortgage Corp. News | Loan Resources
The housing market continues to lack young, first-time buyers

In mid-November, the National Association of Realtors gathered for a conference in San Diego to discuss where the housing market is headed in 2016. Economists discussed both the advantages and limitations that a buyer or mortgage investor could face in the upcoming year. The major takeaway: Despite growing concerns for rising property costs, home sales are expected to continue rising, albeit more slowly, in 2016. 

The forecast The star of the conference seems to have be

Traditional lenders poised to loosen lending requirements

Category | Correspondent Lenders | Correspondent Lending News | Financial Regulations
Banks are offering loans to more consumers.

The mortgage market is particularly strong today, following a month when home price appreciation slowed and interest rates remained low. Within the past week, mortgage applications soared nearly 12 percent compared to the prior week. That's despite continued concerns regarding TRID implementation that some worried would impact loan originations. Though it may take some consumers longer to receive their loans as lenders work through new processes, it's clear that demand remains strong


Homeownership rate begins to recover

Category | Correspondent Lenders | Correspondent Lending News
The homeownership rate is on the rise.

U.S. homeownership numbers declined sharply following the financial crisis, and it remains unclear if they will ever fully recover. Recent weeks brought some good news, however, as the rate rebounded for the first time in a while. Increased homeownership likely has several causes, but improved inventory and a rush to lock in low interest rates prior to a potential Federal Reserve rate hike are major contributors. This increase doesn't necessarily signal a return to the heady day


Home prices continue to rise as distressed sales decline

Category | Correspondent Lenders | Correspondent Lending News
Low inventory is affecting the housing market.

Inventory in the most in-demand U.S. metro areas continues to push home prices higher. Research firm CoreLogic's June 2015 home price report revealed home prices grew 6.5 percent between June 2014 and the same time this year. The price increases in June mean the market has seen 40 consecutive months of price growth, and 15 states saw prices hit their highest levels ever. 

The rampant appreciation has several causes, but is rooted in declining inventory, particularly the smaller


Low inventory leads to quick home sales nationwide as housing market grows

Category | Correspondent Lenders | Correspondent Lending News
Home purchasing could shift to affordable regions.

Low inventory has pushed home prices upward in high-demand areas, but buyers seem undeterred. The most recent report from the National Association of Realtors revealed that almost half of the homes sold in May were purchased after less than a month on the market, demonstrating the strong interest in homebuying sweeping the country. 

The increase in home prices is largely due to first-time homebuyers, and could signal a shift toward increased homebuying in c


New home construction picks up in high-demand areas

Category | Correspondent Lenders
Construction is up in high-demand markets.

Home prices rose substantially across the nation in May as increased demand created competition for limited housing inventory. CoreLogic's May home price report found a 6.3 percent overall monthly increase in home prices, which made May the 39th consecutive month to yield price gains. 

Interest rates on mortgages remained below 4 percent during May, which likely contributed to increased homebuying activity. The biggest increases in home prices occurred in areas that have s

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