Empowering Homebuyers: NewRez Revolutionizes Downpayment Assistance with Freddie Mac's Enhanced Program

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In: New Home Mortgage News

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NewRez Unveils Game-Changing Partnership: Empowering First-Time Homebuyers with Enhanced Downpayment Assistance Program In an exciting development within the mortgage industry, leading lender and servicer NewRez has introduced a groundbreaking special-purpose credit program in collaboration with Freddie Mac.  This innovative initiativeContinue Reading

Defy Mortgage Launches as a National Mortgage Lender For Non-QM Loans

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In: New Home Mortgage News

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As a national mortgage lender with a focus on non-qualified (Non-QM) loans, Defy Mortgage announced on Tuesday that it had begun operations. situated in Nashville, Tennessee. According to Defy, it provides special lending options for trustworthy borrowers with unusual sourcesContinue Reading

Fannie Mae Home Purchase Sentiment Index Rises in December But Affordability still A Big Challenge In 2023

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In: New Home Mortgage News

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However, it is still far below pre-pandemic highs, according to new Fannie Mae data. The sentiment of prospective homebuyers’ purchases slightly improved in December.  According to Fannie Mae, persistent affordability issues will prevent buyers from entering the market in 2023,Continue Reading

Veros Real Estate Solutions Expects Home Prices to Turn Negative in 2023

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In: New Home Mortgage News

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Veros Real Estate Solutions expects home prices to turn negative, falling an average of 0.5% over the next 12 months, the first negative forecast in more than a decade. According to Veros’s VeroFORECAST for the fourth quarter of 2022, aContinue Reading

S&P CoreLogic Case-Shiller Index: Home Prices Fall 0.5% From September

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In: New Home Mortgage News

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Last updated on January 30th, 2023 at 10:49 pmHome prices fell 0.5% from September, according to the S&P CoreLogic Case-Shiller index, marking the fourth straight month of seasonally adjusted home price declines in the 20 largest cities. Markets began toContinue Reading

Is a Repossessed Home a Good Investment?

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In: New Home Mortgage News

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If you’re looking to buy a home, you might be wondering if repossession is a good investment. Here’s what you need to know. What is redemption? Properties are repossessed when owners default on their mortgages. If the owner fails toContinue Reading

Yardi Matrix Report Reveals A Sharp slowdown In Multifamily Market

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In: New Home Mortgage News

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Demand for multifamily homes began to deteriorate in November as national rent growth plunged from its 2021 record highs, according to data from the Yardi Matrix National Multifamily Report. The US asking rents fell to $1,719 last month, down $9Continue Reading

In Spite Of Rate Drop In November The Rate Lock Volume Drops By 68 Percent

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In: New Home Mortgage News

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Despite the Federal Reserve’s efforts to curb inflation, mortgage rates fell in November, but low-interest rates weren’t enough to convince homebuyers to lock up their mortgages in the market due to high volatility. Dollar-specific volume fell 21.5% month-on-month in November,Continue Reading

Solutions To Affordable Housing Shortage Addressed By Toorak Capital Partners CEO

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In: New Home Mortgage News

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John Beacham, founder, and CEO of housing finance firm Toorak Capital Partners is convinced that the private mortgage industry needs to step up its efforts to address the country’s affordable housing shortage. In an interview, Beacham said to MPA thatContinue Reading

Federal Government Increases The Loan Limit Above $1 Million For The First Time

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In: New Home Mortgage News

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The federal government is poised to allow mortgages of $1 million or more for the first time, even as the mortgage market has cooled recently, reflecting the sharp rise in home prices across the country in recent years. The FederalContinue Reading