Tech-powered real estate brokerage Compass has officially entered the mortgage business. The company has announced it’s forming a new mortgage origination firm in partnership with Guaranteed Rate Inc. Compass, which is best known for its technology tools that assist real estate agents in marketing themselves and their listings online, wants to expand its business by
Homeowners are NOT Using Second Mortgages
July 16, 2021 by
One intuitive conclusion about the tight inventory of houses for sale is that the amount of equity owners have in their homes has been rising for several years. Long-term ownership, along with rapid price appreciation, results in homeowners having ten and hundreds of thousands of dollars of wealth built up as home equity. But you
Spike in foreclosures is unlikely, analysts say
July 8, 2021 by
Forbearance programs for federally backed mortgages are rapidly coming to an end, but the National Association of Realtors has said its research shows that there won’t be a glut of foreclosed homes hitting the market, as some had warned. The national forbearance moratorium will end on July 31, but most homeowners are expected to end
Mortgage servicers brace themselves as forbearance programs edge towards expiration
July 5, 2021 by
Mortgage servicers are preparing for a wave of delinquent mortgages and possible foreclosures to hit the market, but say they have already taken steps to mitigate their impact. The U.S. government made mortgage forbearance available to any home loan borrowers in the early days of the COVID-19 pandemic, and those who took up the option
Things to keep in mind when buying a second home
July 4, 2021 by
The housing market may go slow at times. However, the demand for new homes always remains at an all-time high. When you know the right way to select a property, you can reap many benefits from the housing market. Whether you are looking for a second home for vacation or simply looking for a secure place to
Fannie Mae chair warns against cash-out refinancing
June 29, 2021 by
Housing industry experts have been pretty vocal about the benefits of refinancing a mortgage lately, saying homeowners can benefit from current low interest rates to save potentially hundreds of dollars a month on their loan repayments. But Sheila Bair (pictured), chair of the board of directors at Fannie Mae this week warned that refinancing is
Benefits of Private Mortgage Lenders
June 22, 2021 by
When most homeowners seek a mortgage, they go to a bank, credit union, or other financial institution, but sometimes, these lenders won’t lend them money for a variety of reasons. When looking for a mortgage broker Barrie homeowners who are having a hard time getting approved for a loan may want to consider a private
Zombie foreclosures rise despite existing moratorium
June 1, 2021 by
Research shows that so-called “zombie foreclosures” are emerging in much bigger numbers again as distressed homeowners abandon their properties in the belief that they will soon be repossessed. Around 1.4 million residential homes in the U.S. stood vacant in the second quarter, amounting to 1.4% of all homes, ATTOM Data Solutions said in a new
Foreclosure activity to resume in July, some banks say
May 31, 2021 by
Some of America’s biggest banks have said they’ll start resuming foreclosures on delinquent mortgages this summer when COVID-19 forbearance programs expire. The Mortgage Bankers Association says over 2.1 million American homeowners are still in forbearance plans that suspend their mortgage payments and protect them from eviction. Meanwhile, around 1.8 million more are not in forbearance
Short-term vacation home bookings are rising fast
May 21, 2021 by
Vaccination rates are rising and with it, many states are seeing a rise in short-term vacation home bookings as people look to embark on long-awaited getaways this summer. “This is probably contradictory to what a lot of people may think, but it’s really one of the most exciting times in the industry right now,” Carrington
