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  • How to Honestly Make a Difference

    How to Honestly Make a Difference

    The post How to Honestly Make a Difference appeared first on National Real Estate Post.

  • Sales to Slump as Costs Drive Builder Bottleneck

    The Mortgage Bankers Association (MBA) is projecting a decline in new home sales in May. Its computation is based on information from its Builder Application Survey (BAS) which collects information on mortgage applications for new home purchases from the mortgage subsidiaries of home builders nationwide.

    Their non-seasonally adjusted BAS data indicates that applications were down by 4.0 percent from April and by 0.5 percent compared to the previous May.  Based on this information and other information regarding market coverage and other factors, MBA estimates that new homes were sold in May at a seasonally adjusted annual rate of 626,000 units. This is down 4.6 percent from the April rate of 656,000 units.

  • Working VA Renovation Loans

    Working VA Renovation Loans

    The post Working VA Renovation Loans appeared first on National Real Estate Post.

  • 11,000 Secret Fannie Mae Papers

    11,000 Secret Fannie Mae Papers

    The post 11,000 Secret Fannie Mae Papers appeared first on National Real Estate Post.

  • Credit Availability Climbs to Three-Month High in May

    An increase availability of high balance loans helped drive the Mortgage Bankers Association's (MBA's) Mortgage Credit Availability Index (MCAI) to a three-month high in May.  MBA said the Index rose 1.5 percent to 180.6.  An increase in the MCAI is indicative of loosening credit standards while a decline means those standards are tightening. All four components of the MCAI posted increases. The Conventional MCAI rose 2.0 percent from the April level and the Government index was up 1.0 percent.  The Jumbo index and the Conforming Index were up 2.2 percent and 1.9 percent respectively.

     

  • Mortgage Application Volume Falls Back as Rates Rise

    The flurry of mortgage activity during the week ended June 1st didn't last long.  Application volume resumed its months-long retreat last week as interest rates rose.  The Mortgage Bankers Association said its Market Composite Index, a measure of volume, fell back by 1.5 percent on a seasonally adjusted basis during the week ended June 8.  Because the previous week's data was adjusted to account for the Memorial Day Holiday, the June 8 index rebounded on an unadjusted basis, rising by 9.0 percent compared to earlier shortened week.

     

  • Lenders Remain Pessimistic about Demand, Profits

    Last week the Mortgage Bankers Association said that independent mortgage bankers had reported negative production revenue in the first quarter of this year. This week Fannie Mae reminded us that lenders have long expected it to happen. The company's Mortgage Lender Sentiment Survey for the second quarter, which gathered responses from 87 senior executives representing 170 lending institutions, found more than a third (35 percent) expect their net profit margin to decline over the next quarter while 47 percent expect it will stay the same. 

  • Was it Legal to Fire CFPB Advisory Board?

    Was it Legal to Fire CFPB Advisory Board?  

    The post Was it Legal to Fire CFPB Advisory Board? appeared first on National Real Estate Post.

  • Record High Equity Thanks to Mortgage Credit Demographics

    As the value of residential real estate rises with home prices, so has the owner's equity share of that value. Jing Fu, writing in the National Association of Home Builders' (NAHB Eye on Housing Blog, says that equity hit a new high in the first quarter of this year.

    Fu uses figures from the Federal Reserve's Board of Governors' Financial Accounts of the U.S.  to show the overall nominal, non-seasonally adjusted value of owner-occupied housing units in the nation grew to $25.1 trillion during the quarter. This is an increase of $544 billion from the total in the fourth quarter of 2017 and $1.674 trillion more than the first quarter of last year.

    At the same time, the growth of mortgage debt fell negative in 2008 and remained so until early 2015.  It has risen only modestly since then. Its was estimated at $10.1 trillion in Q1 2018, up $280 billion year-over-year. This enabled owners' equity, the difference between debt and value, to rise by $1.4 trillion since the first quarter of 2017, reaching $15.0 trillion, a new record high in the...

  • CFPB Fires 25 Member Advisory Board

    CFPB Fires 25 Member Advisory Board CLICK HERE to see Barry Habib’s take on Recession.

    The post CFPB Fires 25 Member Advisory Board appeared first on National Real Estate Post.

  • Why is Quicken the No. 1 Lender in the Country?

    Why is Quicken Loans the No. 1 Lender in the Country?

    The post Why is Quicken the No. 1 Lender in the Country? appeared first on National Real Estate Post.

  • After Long Search, MBA Finds New Leadership

    A nine-month search for a replacement for David H. Stevens as president and CEO of the Mortgage Bankers Association (MBA) ended today with the selection of Robert D. Broeksmit.  Broeksmit is a Certified Mortgage Banker (CMB)  and current president and chief operating officer of Treliant Risk Advisors, a financial services consulting firm.  He has also held a series of senior leadership positions during a 33-year career in the mortgage industry, including serving as president of B.F. Saul Mortgage Company, executive vice president of Chevy Chase Bank and a vice president at Prudential Home Mortgage. 

  • 10 Years After Crisis, Mortgage Market Needs New Fixes

    Happy Anniversary - or something...

    It is a decade since the financial crisis and ultimately the Great Recession began.  Bear Stearns collapsed in March of 2008, the government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, were placed in conservatorship in August, and AIG, Goldman Sacks and many other banks were "rescued" by the U.S. Treasury in September.

    Much of the blame for triggering the events was laid at the feet of the housing industry.  Now, ten years later, the economy is booming but housing is a bit of a mixed bag.  Robert Abare, editor of the Urban Institute's (UI's) Urban Wire recently interviewed UI research associate Karan Kaul, getting his assessment of the housing market's status ten years later.

  • Consumer Optimism Continues Despite Rising Home Prices

    Despite declining consumer confidence about buying a home, Fannie Mae's Home Purchase Sentiment Index® (HPSI) hit a second consecutive survey high in May. The Index, which distills some of the responses from the National Housing Survey, rose 0.6 points to 92.3.   In May 2017 the Index stood at 86.2. However, the company says consumer attitudes about buying and selling a home have continued to diverge as home prices have increased. While the net share of respondents who reported that now is a good time to sell a home increased to 46 percent in May, and is now up 14 percentage points year over year, the net share who said now is a good time to buy a home decreased to 28 percent, showing little improvement year over year.

     

  • Snapshot

    Ever have one of those deals that when you add up all the time you spent on it, you know you are in the negative with the commission earned? Of course you have. We all have. I just closed on such a deal. It was a nightmare, and I spent hours and hours and hours […]

    The post Snapshot appeared first on National Real Estate Post<