With Democrats in power, will CRA be expanded to nonbanks?
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President Biden and Democrats in Congress have backed plans to subject a broader array of companies to Community Reinvestment Act requirements. But there’s no guarantee such reforms will happen.
Mortgage and refinance rates today, January 21, 2021
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Today’s mortgage and refinance rates  Average mortgage rates edged lower yesterday. It was a small drop but it inches them further toward the all-time low, though there’s still a way […]
Refinance soon to avoid the FHFA adverse market refinance fee
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Fannie Mae and Freddie Mac's 0.5% refinance fee is delayed until December 1. But to avoid the fee and higher refinance rates, you need to apply sooner than that.
Mortgage Rates Almost Back to Early January Levels
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Mortgage rates made more progress today, but only after some drama in the morning. The bond market started the day in weaker territory and many mortgage lenders were offering higher rates as a result. As the day progressed, bonds improved and lenders adjusted their offerings accordingly. By the afternoon, the average lender was in better territory than yesterday. The improvement is the latest in a string of slow, steady gains for the mortgage market. While the average lender is not yet quite back to the super low territory from early January, many are as close as they've been since the January 6th rate spike following the Georgia senate election. Top tier purchase rates for conventional 30yr fixed loans are in the 2.5 to 2.75 neighborhood while top tier no-cash-out refis are about an eighth
End-of-Year Delinquencies a Challenge for 2021
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Posted To: MND NewsWire

Mortgage performance understandably deteriorated over the course of 2020. Black Knight, in its "first look" at December data, noted that the year ended with 1.54 million more delinquent mortgages and 1.7 million more that were seriously delinquent than at the start, calling it "a looming reminder of the challenges facing the market in 2021 ." The situation did continue to improve as the year ended. The national delinquency rate fell 3.9 percent from November to December and the resulting rate of 6.08 percent of all active loans was the lowest since April 2020 when the financial effects of the pandemic kicked in. It is however, nearly 79 percent higher than the rate at the end of 2019. Serious delinquencies, loans 90 or more days past due but not in foreclosure, also declined, dropping by 47...(read more)

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Overcoming Loan Rejections
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You were all set to buy that new car or house. You may have even picked out the cherry-red convertible or the Cape Cod with the spacious yard -- until your bank stopped you in your tracks.

Your loan has been denied, and now you're not sure what to do.

It's a pretty common scenario, and unfortunately, there isn't always a quick solution.

The First Names Who Own the Most Valuable Homes, in Every State
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From Alexander to Todd, here's whose names add up to the priciest pads from coast to coast.
How To Shop For A Mortgage When You Feel Rushed – The Mortgage Reports
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How To Shop For A Mortgage When You Feel Rushed  The Mortgage Reports
Low VA Rates Review: A Mortgage Lender That Is Everything VA
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Sometimes mortgage companies come up with unique or clever names, and other times they just name themselves after exactly what the offer, which seems to be the case with “Low VA Rates.” Yes, there’s a mortgage company bearing that name that does quite a lot of business originating VA loans. A couple of similarly-named lenders [&hellip

The post Low VA Rates Review: A Mortgage Lender That Is Everything VA first appeared on The Truth About Mortgage.

Mortgage Industry Geographic Concentration Overview
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Statistical models show that geographic location in conjunction with other key performance indicators can determine a loan's likelihood for profitable servicing. In the interest of mitigating portfolio risk, investors perform analysis to determine the Geographic Concentration of loans in their servicing portfolio.
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