Velocity Mortgage Capital makes fix and flip loans easy for brokers
Non-prime lending is officially back – and Citadel Servicing’s ever-expanding product roster is helping to bring it to new customers
The troubled mortgage servicer, which is dealing with a mountain of regulatory and legal issues, was just hit with another avalanche of bad news.
Concerns over the GSEs weak earnings “should serve as a wake-up call to Congress to move quickly to advance housing finance reform,” according to NAHB chairman.
An online mortgage marketplace startup, which says it can close loans for customers in as few as 15 days, has raised another $5 million in hopes of increasing its presence even more in the mortgage industry.
Housing affordability slightly improved…Investors, cash buyers fall in 2014… Borrowing’s getting easier… Home sales and starts slip back in Phoenix…
Many economists are predicting rates to increase soon and some believe the cash borrowers have saved through refinancing will move toward remodeling projects.
Monthly prepayment rate is highest since February 2009 as lenders have been recovering greater gross percentages of unpaid balances through REO liquidations than through short sales.