UWM Holdings Corporation engages in the residential mortgage lending business in the United States. The company originates mortgage loans through wholesale channel. It originates primarily conforming and government loans. UWM Holdings Corporation was founded in 1986 and is headquartered in Pontiac, Michigan.
Read More(Bloomberg) — Starwood Capital-backed home lender Reverse Mortgage Funding LLC filed for Chapter 11 bankruptcy, the latest company to succumb amid a rapid run-up in mortgage rates. The company, which makes reverse mortgages, listed assets and liabilities of at least $10 billion each in its bankruptcy petition. Chapter 11 bankruptcy allows companies to keep operating […]
Read More(Bloomberg) — US mortgage rates retreated sharply for a second week, hitting a two-month low and providing a bit of traction for the beleaguered housing market. The contract rate on a 30-year fixed mortgage decreased 23 basis points to 6.67% in the week ended Nov. 18, according to Mortgage Bankers Association data released Wednesday. Rates […]
Read More(Bloomberg) — Home prices in the US have taken a turn and are now posting the biggest monthly declines since 2009. Median home prices fell 0.98% in August from a month earlier, following a 1.05% drop in July, Black Knight Inc. said in a report Monday. The two periods mark the largest monthly declines since […]
Read More(Bloomberg) — The US mortgage industry is seeing its first lenders go out of business after a sudden spike in lending rates, and the wave of failures that’s coming could be the worst since the housing bubble burst about 15 years ago. There’s no systemic meltdown coming this time around, because there hasn’t been the […]
Read More(Bloomberg) — Home ownership has reached a milestone in the US. Nearly half of mortgaged properties were considered equity-rich in the second quarter — meaning owners had at least 50% in home equity. This marked the ninth straight quarterly rise, fueled by soaring house valuations in the pandemic era and an increase in down payments […]
Read More(Bloomberg) — US mortgage rates posted the biggest drop in more than two years, offering homebuyers a slight reprieve from this year’s massive surge in borrowing costs. The average for a 30-year loan declined to 5.10% from 5.25% last week, Freddie Mac said in a statement Thursday. That was the biggest decline since April 2020, […]
Read MoreFor many foreign-born individuals living in the United States, owning a home is one of the cornerstones of the American dream. But there’s a perception among some non-U.S. citizens that there’s no way they can obtain a mortgage, thus creating a huge barrier to that goal. However, according to the National Association of Realtors (NAR), […]
Read MoreYoung female mountain climber While homeownership is called “the American Dream,” owning a home also means taking out a mortgage for most people. And you don’t truly own your home until the mortgage is paid off, so many families want to pay their mortgage off quickly. If you really set your mind to it, you […]
Read More(Bloomberg) — Mortgage rates in the U.S. dipped for the first time in a month. The average for a 30-year loan was 3.55%, down from 3.56% the prior week, Freddie Mac said in a statement Thursday. The dip may reassure homeowners there’s still opportunity to save money by refinancing. Still, borrowing costs are expected to […]
Read MoreThe average rate of a 30-year fixed-rate mortgage was 3.45% this week. Brandon Bell/Getty Images Mortgage rates climbed to their highest point since March 2020, according to data released Thursday. It’s the latest sign that the pandemic’s ultralow rates are a thing of the past. The average rate of a 30-year fixed-rate mortgage was 3.45% […]
Read MoreAn “Available” sign outside a home in the CBH Homes Calvary Springs Community in Nampa, Idaho, on Oct. 19, 2021. No city exemplifies the mania of the Covid-era U.S. housing market better than Boise, Idaho, where prices have surged by more than 30% in the past year. Kyle Green/Bloomberg As an investor in mortgage-backed securities, […]
Read MoreFederal Reserve officials were confident through the summer that spiking prices would reverse as the economy worked through supply and demand shocks caused by the pandemic. But that “transitory” narrative has been all but abandoned this month as the latest reading of U.S. inflation hit a 39-year high. Soon after that report came out, Fed […]
Read MoreGetty Images/iStockphoto Mortgage rates remain near historic lows, with some 30-year rates near 3% and some 15-year rates near 2%, as you can see here — though experts predict they will rise. But you might not get a mortgage at all, if you fall into some of these traps: According to a recently released NerdWallet […]
Read MoreGetty Images/iStockphoto With about 1,000 mortgages under his belt over the past 20 years, Jay Goldberg, a mortgage broker at Union Bank in Los Angeles, has seen firsthand how the market ebbs and flows and what that means for homebuyers and refinancers. “Ten or 12 years ago, in the Great Recession, self-employed and professional clients […]
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