The source for daily mortgage news. Rates, analysis, and industry insight for mortgage advisors, originators, bankers, and all loan origination professionals. Home of NMP, Mortgage Banker, and Mortgage Women Magazine.

Dec 19, 2024 · With 2025 fast approaching, now is the time to plan ahead and seize new opportunities in the housing market. Over $32 trillion in homeowner equity remains "trapped" as borrowers seek ways to access their wealth for home improvements or debt consolidation—without sacrificing their historically low first mortgage rates.

Feb 23, 2022 · he law firm Marcus & Zelman LLC has reached final approval for a class action settlement with Select Portfolio Servicing Inc., (Gaffney v. Select Portfolio Servicing, Inc.) a company that serviced the plaintiffs’ mortgage loans on behalf of a non-party lender. Now, other consumers who have been overcharged on their mortgage debts after foreclosure may be …

Dec 13, 2024 · ‘Tis not only the holiday season, but also that time of year when practically everyone weighs in with what they think next year holds for the housing sector. On cue, now comes forth the latest forecast from the National Association of Realtors (NAR), the 1.5 million-member trade-group behemoth representing agents, brokers, and allied professionals.

Nov 30, 2022 · A day after laying off 80% of its staff — about 400 people — Reverse Mortgage Funding LLC filed for protection from creditors in federal bankruptcy court.. The Bloomfield, N.J.-based reverse mortgage lender on Wednesday filed a petition for Chapter 11 bankruptcy in U.S. Bankruptcy Court for the District of Delaware. Under Chapter 11, a business may continue to …

Dec 2, 2024 · Mortgage broker-owners received an ominous warning from Broker Action Coalition (BAC) Chief Advocacy Officer and co-founder Brendan McKay who took to LinkedIn last week to share, “The CFPB has begun auditing mortgage brokerages,” particularly the industry’s mega brokers that employ over 1,000 loan officers.

Meet NMP Magazine’s 40 Under 40 Class of 2024 — the trailblazers transforming the mortgage industry with fresh ideas and boundless energy. From cyber resilience champion Jordan Bingham tackling rising threats to STRATMOR Group’s Garth Graham forecasting transformative trends, this issue equips you to navigate the industry's next big challenges.

The mortgage industry is navigating a transformative period, driven by evolving market dynamics, regulatory changes, and advancing technology. From the missteps of relying on rate predictions to the strategic reassessment of Mortgage Servicing Rights (MSRs) in a volatile market, lenders are learning to adapt. Regulatory shifts, such as PACE loan prioritizations and data privacy …

Oct 30, 2024 · Editor's Note: National Mortgage Professional contributing writer Lew Sichelman is onsite at this week's Mortgage Bankers Association annual conference in Denver. This is one of a series of reports from the event, exclusively for NMP.

The 30-year mortgage was designed with that amortization schedule to provide a hedge against volatility and inflation, but because borrowers are not being underwritten for long-term affordability, and homes are not being underwritten to emerging, asset-level climate risks, ballooning escrows are functioning like piggyback, adjustable-rate mortgages, which is bad …