Optimal Blue: Boston-Area Mortgage Demand Started Year Strong
New mortgage application data is signaling homebuyers are reentering the market amid gradual decline in interest rates, setting the stage for another year that drives home prices up.
Remote Notarizations Legalized in Massachusetts
Massachusetts’ mortgage industry can expect to see documents notarized virtually in the years ahead as the process known as remote online notarization becomes permanent in Massachusetts.
Complaints to CFPB Up More Than 50 Percent in 2020
The pandemic drove more customers to file complaints with Consumer Financial Protection Bureau in 2020, including 9,600 Massachusetts residents, an 85 percent increase over the previous year.
Purchase Mortgage Apps Drop 11 Percent Nationwide
In another indication the coronavirus is softening the housing market, applications for purchase mortgages fell by 11 percent nationwide last week, according to the Mortgage Bankers Association.
A New Loan Aimed at Older Homes
A new mortgage product is about to hit the market that could make it easier for owners to repair or rebuild homes that have been damaged or destroyed in floods, tornadoes, hurricanes and other natural disasters.
Refinancing Activity Soars as Mortgage Rates Decline
Mortgage applications and refinancing activity soared at the end of March as mortgage rates continued to fall, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending March 29, 2019.
Major MA Mortgage Servicer Hit With $2M Judgement
One of the nation’s largest mortgage servicers will pay $2 million in restitution to resolve allegations that it violated state law and committed unfair and deceptive practices by charging Massachusetts homeowners for overpriced force-placed insurance policies and other unnecessary fees.
Report: Massachusetts Has Third-Lowest Mortgage Rates in U.S.
Massachusetts has the third-lowest mortgage rates in the nation, according to a new study from Lending Tree.
National Mortgage Delinquency Rates Decline in November
Nationally, 4.1 percent of mortgage were in some stage of delinquency in November 2018, a 1.1 percentage point decline from November 2017.
Your FICO Score is Not Your Mortgage Destiny
In actual application situations, lenders who want to increase their loan business to homebuyers may dig deeper into the credit pool and offer relatively more attractive rate deals to people whose scores are not pristine.
National Housing Market Shows Signs of Hope
Combined with other recent trends – growing inventories of homes available for sale, slower price inflation and even modest price reductions – the decline in mortgage rates should be encouraging for anyone seriously in the market for a home.
Prices for Mass. Single-Family Homes and Condos Hit Record High in October
The median sale price for both single-family homes and condominiums increased in October as inventory levels dwindle across Massachusetts, according to a new report from The Warren Group, publisher of Banker & Tradesman.
The Millennials’ Struggle for Good Credit
Millennials are finally buying homes and applying for mortgages, with 23 percent of all newly originated mortgage dollars attributed to that generation.
Digital Matchmaker Pairs Mortgage Seekers with Trusted Lenders
As the head of residential lending at Leader Bank from 2010 to 2015, Patrick Boyaggi was responsible for close to 30,000 transactions worth over $11 million.
US Existing Home Sales Rise for Second Straight Month
U.S. home sales increased strongly in March amid a rebound in activity in the Northeast and Midwest regions, but a dearth of houses on the market and higher prices remain headwinds as the spring selling season kicks off.
Despite Low Inventory, Leader Bank Increases Mortgage Portfolio
Arlington-based Leader Bank has long been a powerhouse in the residential mortgage market, so it should come as no surprise that they once again sat atop Banker & Tradesman’s annual list of top single-family lenders in 2017. But the bank also managed another impressive feat: It increased total transactions and total volume during a year when many industry experts and data would suggest that housing inventory is at an all-time low.
New Home Mortgages Up 4.6 Percent in February
The Mortgage Bankers Association (MBA) Builder Applications Survey (BAS) data for February 2018 shows mortgage applications for new home purchases increased 4.6 percent compared to February 2017.
MBA Reports Applications Down Again Last Week
Mortgage applications decreased 0.5 percent from the week prior for the week ending Sept. 22, 2017, per the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey.
Freddie Mac Reports Significant Portfolio Growth In August
A report released yesterday by Freddie Mac reported good news across the board in August for the GSE’s balance sheet.
Home Equity Loans Are Back In Style
An article posted on realtormag.com last week reports that more homeowners are tapping into their home equity. Loan originations rose 8 percent to almost $46 billion in the second quarter of 2017, the highest level since 2008, according to Equifax.
