Monday, April 1, 2019

HELOC, Non-QM, and Rural Products; Credit News and Shifts in Guidelines

Posted To: Pipeline Press

(Yes, here is today’s actual commentary.) It is well known among loan officers that real estate agents don’t know their client’s credit situation before recommending the buyer to an MLO. What will they qualify for? And is this the beginning of the end for Tri-merge reports? Equifax is planning to team up with Fair Isaac, the creator of the FICO credit score, to sell consumer data to banks. Let’s take a random walk through other lender credit news below. Lender Products and Services Impac Mortgage is breaking through the barriers of Non-QM. Impac Mortgage, a pioneer in Non-QM lending, is aggressively developing its Non-QM correspondent business throughout the country by building strategic partnerships focused on providing all the necessary tools and resources for you...(read more)
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See Inside This Adorable, Cozy, Practically Perfect Cottage

And it comes with views of a farm full of horses, too. READ MORE...

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Black Knight: Refis Increase 50% in a Single Week Thanks to Lower Rates

Posted To: MND NewsWire

There are two strong headlines in Black Knight's new Mortgage Monitor . One is that the pool of homeowners for whom a refinance makes sense increased by 50 percent in a single week due to the sudden drop in interest rates. Another is the second consecutive quarterly decline in tappable equity nationwide. After rising more or less steadily for 14 quarters (starting in the third quarter of 2012), tappable equity retreated in both the third and fourth quarters of 2018. Tappable equity is the amount that a homeowner can withdraw through refinancing or a home equity loan (HELOC) without raising the loan-to-value ratio above 80 percent. Nationwide, home equity reached a high of $6.06 trillion in the second quarter of last year. Since then it has fallen by $348 billion, with $229 billion of that drop...(read more)
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Black Knight: Refis Increase 50% in a Single Week Thanks to Lower Rates

Posted To: MND NewsWire

There are two strong headlines in Black Knight's new Mortgage Monitor . One is that the pool of homeowners for whom a refinance makes sense increased by 50 percent in a single week due to the sudden drop in interest rates. Another is the second consecutive quarterly decline in tappable equity nationwide. After rising more or less steadily for 14 quarters (starting in the third quarter of 2012), tappable equity retreated in both the third and fourth quarters of 2018. Tappable equity is the amount that a homeowner can withdraw through refinancing or a home equity loan (HELOC) without raising the loan-to-value ratio above 80 percent. Nationwide, home equity reached a high of $6.06 trillion in the second quarter of last year. Since then it has fallen by $348 billion, with $229 billion of that drop...(read more)
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Our (Free) Spring Cleaning Program Starts Today—Sign Up Now!

This year we're all about spring cleaning that fits your life—and your mood. Today, we're starting with the kitchen. READ MORE...

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Win: Your Everything-You-Need Spring Cleaning Tool Kit from OXO

That's 42 pieces of all the tools that'll make your spring cleaning so much better! READ MORE...

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Live Too Far from IKEA? Now You Can Assemble Your Own Store

No more missing out on Swedish meatballs! READ MORE...

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