Category: Correspondent Lending News
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
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
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
Impac Mortgage Corp. Correspondent helps those who want to expand their business with a non-delegated lending program that gives newly transitioned brokers to bankers access to Impac's broad suite of proven mortgage products. Some lenders refer to this type of arrangement as emerging banker or mini-correspondent, but those names diminish the true value provided by Impac's expertise in the lending field.
That expertise is critical, because the Consumer Finance
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