To borrow a phrase from Game of Thrones, winter is coming in more ways than just on the calendar. Winter is coming from mortgage lending too, according to a new report from Kroll Bond Rating Agency. KBRA’s new report states that 2016 will likely be the peak year for mortgage originations for “years to come,” as a fall in origination volume will occur in 2017 and beyond.
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The Consumer Financial Protection Bureau just fired a shot across the bow of all companies that provide financial services to consumers, warning companies about the risks inherent in sales incentives programs like the one that led to a massive fine being handed down against Wells Fargo.
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Incenter, which recently expanded by launching a mortgage-focused broker-dealer called Incenter Securities Group, is expanding again – into title and settlement services. Incenter, a Blackstone portfolio company, announced Monday that it acquired Boston National, a provider of title and settlement services headquartered in Charlotte, North Carolina.
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The strong GDP is based on strong corporate profits, though this did not translate into a rally in the bond markets, as some would expect, especially considering that federal spending is also up. So why the bearish bond activity?
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The industry is quickly evolving to go more digital, and Freddie Mac is right there with it to assist in the change. The GSE published an official list of approved eMortgage vendors to better streamline the mortgage process and to help encourage the use of digital mortgages. For anyone looking to go digital, check out this latest list.
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Home prices finally surpassed their all-time highs set in July 2006 as the housing boom topped out. But despite the steady build up to this the past few months, the new highs aren’t necessarily a win after digging deeper into the data.
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Appraisal volume, to no surprise, tumbled in the latest report due to the Thanksgiving holiday. However, a la mode explains how this drop compares to the past.
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