PYMNTS

APRIL 12, 2020

The new standards will make it so customers applying for a new mortgage will need a credit score of 700 or higher and will have to make a down payment of 20 percent of the home’s values. JPMorgan didn’t release its current rates, but the average down payment according to the Mortgage Bankers Association (MBA) is around 10 percent.

Survey 340

Survey National Payments Marketing 340

Chris Skinner

JULY 8, 2019

Grandson: Well, a good … The post A mortgage in an app? Grandson: Granddad, you know you were talking about how money and banking used to be. Well, I think it’s a lot better today. Granddad: How so, lad? appeared first on Chris Skinner's blog.

Digital Banking 327

Digital Banking 327

PYMNTS

OCTOBER 19, 2020

Google Cloud is aiming to innovate the mortgage industry with its new artificial intelligence (AI) tool called Lending DocAI. 19) that the mortgage industry is just one of many verticals being transformed by AI. “In Lending DocAI is part of Google's Document AI portfolio for the mortgage industry.

Google 264

Google Tools Lending Industry 264

Independent Banker

MAY 31, 2022

Josh Prejean (right) of Bank of Zachary, here with mortgage client David Rozas, says community banks must compete through customer service. In the highly competitive mortgage arena, bankers are looking for strategies that will give them an edge in capturing business as originations pull back from peak levels. By Beth Mattson-Teig.

Community Bank 185

Community Bank Community Lending Marketing 185

BankUnderground

FEBRUARY 7, 2024

Daniel Norris, Elio Cucullo and Vasilis Jacovides When borrowers enter a fixed-rate mortgage, lenders test whether they could continue to afford their mortgage if interest rates were to increase by the time it comes to re-fix. Likewise, having some ‘headroom’ does not guarantee that a borrower can afford a higher mortgage rate.

Analysis 86

Analysis Policies Data Marketing 86

TheGuardian

APRIL 24, 2024

Pre-tax profits drop to £1.6bn between January and March, down from £2.3bn last year Lloyds Banking Group has posted a 28% drop in profits for the first three months of the year as intense competition in the mortgage and savings market hit its earnings.

Taxes 53

Taxes Groups Branding Marketing 53

CFPB Monitor

SEPTEMBER 8, 2023

The Ohio Department of Commerce, Division of Financial Institutions is amending the rules that implement the state’s Residential Mortgage Lending Act. The Division is seeking preliminary feedback on the administrative rules, which are codified in the Ohio Administrative Code Chapter 1301:8-7, as they undergo a five-year rule review.

Lending 148

Lending Ohio 148

CFPB Monitor

JUNE 27, 2023

that lenders must use the Supplemental Consumer Information Form (SCIF) of Fannie Mae and Freddie Mac in connection with FHA insured mortgage loans with application dates on or after August 28, 2023. Department of Housing and Urban Development (HUD) recently announced in Mortgagee Letter 2023.13

Report 148

Report 148

CFPB Monitor

SEPTEMBER 23, 2022

The CFPB recently issued a Request for Information Regarding Mortgage Refinances and Forbearances (RFI ) Comments on the RFI will be due 60 days after publication in the Federal Register. The other is a “one-way adjustable rate mortgage” or “one-way ARM.” The CFPB raises the potential of two additional loan products.

Marketing 148

Marketing Examples Payments Regulation 148

BankUnderground

NOVEMBER 23, 2023

This has led to much higher mortgage rates for many people. The interest rates set by central banks are of course a key determinant of the rates people pay on their mortgages. Banks tend to price mortgages off interest rate swaps, which reflect the market’s expectations of future policy rates. percentage points (Chart 1).

Policies 96

Policies Analysis Comparison Regional 96

PYMNTS

MAY 1, 2020

home mortgages — or 7.3 The forbearance numbers are climbing steadily, day by day,” said Anthony Jabbour, CEO of mortgage technology and data provider Black Knight Inc. “The The forbearance numbers are climbing steadily, day by day,” said Anthony Jabbour, CEO of mortgage technology and data provider Black Knight Inc.

US 183

US Taxes Security Payments 183

TheGuardian

APRIL 25, 2024

Pre-tax profits drop to £2.3bn between January and March, down from £2.6bn last year • Business live – latest updates Profits at Barclays tumbled by 12% in the first quarter, as higher UK interest rates weighed on demand for mortgages and loans while a backdrop of economic uncertainty affected its investment bank.

Taxes 60

Taxes Report Lending 60

CFPB Monitor

OCTOBER 2, 2023

The CFPB recently released a report entitled Data Point: 2022 Mortgage Market Activity and Trends based on 2022 data reported by lenders under the Home Mortgage Disclosure Act (HMDA). Continue Reading

Trends 78

Trends Report Marketing Lending 78

TheGuardian

FEBRUARY 1, 2024

Out-of-court settlement reached with law firm acting for customers who have been left owing big sums One of Britain’s biggest high street banks has agreed a payout to settle a case involving “unfair” mortgages – giving hope to thousands of people who have been left owing huge sums.

Groups 97

Groups 97

PYMNTS

MARCH 23, 2020

The Mortgage Bankers Association (MBA) is concerned that deferred and late mortgage payments due to lost jobs and reduced hours caused by the coronavirus could end up triggering a financial debacle for mortgage servicers, according to reports. Broeksmit, president and chief executive officer of MBA, wrote in the letter.

National 159

National America Meeting Payments 159

CFPB Monitor

JANUARY 11, 2024

We discuss various issues faced by lenders and servicers when attempting to foreclose on “zombie” mortgages, meaning second mortgages on which the borrower has not made a payment for a considerable period of time and the lender or servicer has not previously taken action to foreclose. Continue Reading

Payments 78

Payments 78

PYMNTS

APRIL 28, 2020

And for at least some stakeholders in the roughly $11 trillion mortgage market, the ripple effects of trying to chase down payments post-COVID-19 and get documentation in place will be significant, time consuming and costly. That process can hurt MBS prices, as mortgages are prepaid faster than expected,” reported the newswire.

Payments 192

Payments Security Marketing Industry 192

PYMNTS

JULY 8, 2020

Homebuyer mortgage applications surged as June turned into July, in yet another sign of the housing market ’s surprisingly strong rebound after the coronavirus-triggered shutdown this spring. That has increased competition for available homes, with the average mortgage size increasing to $365,700 to reflect the rise in prices, the MBA noted.

Marketing 155

Marketing United States Survey Industry 155

CFPB Monitor

DECEMBER 20, 2023

The CFPB recently released results of a study of residential mortgage refinance loans from the first quarter of 2013 to the first quarter of 2023, focusing on differences between cash-out and non-cash-out (or rate and term) refinance loans. The CFPB used data from the National Mortgage Database to conduct the study. Continue Reading

Study 78

Study National Data 78

American Banker

MARCH 21, 2024

Instability in mortgage rate movements should continue in the weeks ahead, even with Fed Chairman Jerome Powell's comments on inflation.

System 68

System 68

PYMNTS

JULY 6, 2020

The number of homeowners in the mortgage bailout program under the federal CARES Act fell by 104,000 from June 23 to June 30 — the largest one-week drop since the start of the program, reported CNBC. percent of active mortgages. On the other hand, the number of those in the forbearance program is still high, encompassing 4.58

Survey 191

Survey Payments Report 191

TheGuardian

DECEMBER 22, 2023

Decades after shared appreciation mortgage launch, case brought by law firm due to reach high court It was one of a list of “millennium products” lauded by the then prime minister, Tony Blair, as an example of “the very best of British innovation, creativity and design”.

Examples 105

Examples Innovation Groups 105

PYMNTS

SEPTEMBER 17, 2020

The firm, which offers mortgages and other direct-to-consumer loans, is planning an initial public offering (IPO), sources told Bloomberg. The Mortgage Bankers Association forecasts $3 trillion in new mortgages this year, up 37 percent from 2019. is the nation’s largest retail mortgage lender. Quicken Loans Inc.,

San Francisco 160

San Francisco New York Lending California 160

PYMNTS

FEBRUARY 27, 2019

Zillow is focusing more on the mortgage market, making loans to buyers who use the company’s app. Zillow plans to add the mortgage business to its financial reports starting in the second quarter. According to the report, Zillow has been originating mortgages for the past few months after buying Mortgage Lenders of America.

America 169

America Report Strategy Marketing 169

Commercial Lending USA

DECEMBER 15, 2023

Commercial Lending USA specializes in arranging commercial mortgages for businesses and commercial purposes nationwide. Looking for commercial loans in the USA? Get the funding you need today!

Lending 76

Lending Resources 76

American Banker

APRIL 25, 2024

Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.

Report 36

Report 36

PYMNTS

JANUARY 17, 2021

Morgan and closed a $100 million financing facility to help with conforming and jumbo mortgages, according to a press release. With the facility, Figure will work on fueling mortgage lending growth, which shot up nearly 50 percent month over month in the fourth quarter.

Lending 199

Lending blockchain National Payments 199

CFPB Monitor

FEBRUARY 22, 2023

HUD recently announced a reduction to the annual mortgage insurance premium charged to borrowers with FHA-insured loans. HUD estimates that the reduction will save FHA borrowers on average $800 annually.

148

148

CFPB Monitor

MAY 11, 2023

The Consumer Financial Protection Bureau (“CFPB”) recently issued advisory guidance on the enforcement of time-barred mortgage loans. A time-barred mortgage loan is one where the statute of limitations has expired. The statute of limitations for mortgage loans are typically created by state law, and vary by jurisdiction.

78

78

PYMNTS

JULY 29, 2020

percent last week as rates on FHA loans rose, according to the Mortgage Bankers Association (MBA). Michael Fratantoni, the MBA’s chief economist, said conventional mortgage rates remained near record lows, in the 3 percent range, for the week ending July 24, and that refinances continued to slightly increase. percent the week prior.

San Francisco 137

San Francisco Millennials Survey Report 137

PYMNTS

APRIL 2, 2020

Non-bank lenders are on shaky ground as they face the prospect of mortgage payment forbearance with the ongoing coronavirus pandemic, which could end up costing them $12 billion per month, according to the Financial Times. based mortgages. firms on Thursday (April 2). Fannie and Freddie guarantee payments on around $5 trillion in U.S.-based

Guidelines 197

Guidelines Payments Marketing 197

CFPB Monitor

MARCH 21, 2022

Last week, the CFPB published a blog post , stating that it “strongly encourages” mortgage servicers to participate in Homeowner Assistance Fund (HAF) programs. The Bureau asserts that it “remains focused on preventing avoidable foreclosures to the maximum extent possible and expects mortgage servicers to do the same.”.

Training 148

Training Policies Industry Payments 148

SWBC's LenderHub

JUNE 15, 2023

Like most markets these days, the mortgage industry is facing considerable economic headwinds as high inflation and the threat of a recession make it difficult to pin down—let alone lower—mortgage rates.

Industry 78

Industry Survey Marketing Lending 78

TheGuardian

JANUARY 3, 2024

Five- and 10-year fixed-rate remortgage offers announced as lenders big and small reduce rates HSBC has become the latest big UK lender to announce across-the-board mortgage interest rate cuts, with leading names announcing reductions of up to one percentage point.

93

93

CFPB Monitor

APRIL 17, 2023

On April 26, 2023, the CFPB will hold a field hearing in Brooklyn, New York on “zombie second mortgages.” At the event, Director Chopra will host a discussion with local community organizations, advocates, leaders, and members of the public about such mortgages and debt collection issues.

New York 78

New York Community 78

TheGuardian

JANUARY 21, 2024

Scheme to support first-time buyers that would appeal to young voters reportedly being considered by No 10 Ministers could be at risk of fuelling a fresh house-price bubble, according to industry experts who have warned about a potential “99% mortgages” scheme for first-time buyers that would appeal to young voters before the next election.

Marketing 96

Marketing Industry Report 96