Blog - The Source
The resource-intensive business of construction lending has primarily been the purview of the big banks, but in recent years, smaller mortgage lenders have increasingly broken into the industry. Historically, mortgage banks have lacked the capital to become competitive in the construction lending space; this all changed with the advent of warehouse capacity, a specialized line of credit provided to mortgage bankers by warehouse lenders.
Finding a valuations partner who is up to speed on the myriad of new laws and regulations may feel like a daunting task. Fortunately, it’s possible to differentiate the modernized leaders in the appraisal industry from the uninformed, run-of-the-mill providers. George Paquette, Chief Appraiser at Springhouse®, discusses how to select the best, most modernized appraisal management company (AMC).
Altisource commissioned a 2018 report, “The State of the Originations Industry,” which showcases results from our annual Origination Solutions Survey of over 200 decision makers in the U.S. mortgage origination business. The survey uncovered many industry insights, including risks and challenges present in the mortgage market and methods for improving mortgage originations. In this post, we have distilled five key points from the report that can help originators stay competitive.
While interest in non-qualifying mortgages (non-QM) is growing, so are the concerns that non-QM is simply a subprime loan dressed in new clothing. After the crash, it’s no wonder that there is sensitivity around the “old subprime” that sent lenders, borrowers and the global economy spiraling. It’s also no surprise that when people hear about non-QM loans, they worry we are repeating history.
Any given organization will likely keep a long list of third-party vendors. They cover a wide range of functions, and—although not enough people consider this point—they cover a broad range of security profiles as well.
While many organizations are now keenly aware of how much time, effort and foresight they must put into their own security, many don't consider whether the vendors they bring in are equally secure and what risks they bring in.
The real estate market is rapidly changing. Today’s strong economy is driving higher interest rates, causing prospective homeowners to think twice before purchasing and giving homeowners pause before putting their properties on the market. For lenders, this means...
These are very challenging times for independent mortgage bankers,” said Marina Walsh, MBA’s Vice President of Industry Analysis in November 2018. Most mortgage lenders can relate to that sentiment, since at the moment, competition is fierce, interest rates are...
The real estate industry also stands to benefit from the “normalization” of blockchain. In fact, uses of blockchain in legally binding real estate transactions include the recording of lease agreements, enabling faster, cheaper and simpler execution of contracts. Could the technology also be used to assist with the purchase of property?
In 2016, nearly one in five newly originated loans were Federal Housing Administration (FHA) loans. Although these loans led to an increase in home sales, they also comprised more than 34 percent of loans that were delinquent over 30 days, or nearly 8 million in outstanding FHA loans.
“One of the most critical problems facing federal, state and local governments, city planners and lawyers alike is the improvement of housing conditions throughout the nation. This problem, though more pronounced in the cities, is not confined to them. Because of its cancerous growth, inadequate, unsanitary, unsafe and unfit dwellings can be found in almost all populated areas of the United States.”