FHA

Optimal Blue Originations Market Monitor: November Brings Long-Awaited Shift in Direction for Mortgage Rates, Significant Decline in Average Purchase Price

Retrieved on: 
Tuesday, December 12, 2023
Federal Open Market Committee, GSE, Treasury, ARM, USDA, FHA, Gasoline, Television, Auction, Drug

PLANO, Texas, Dec. 12, 2023 /PRNewswire-PRWeb/ -- Today, Optimal Blue announced the release of its Originations Market Monitor report, looking at mortgage origination data through November month-end. Leveraging daily rate lock data from the Optimal Blue PPE – the industry's most widely used product, pricing, and eligibility engine – the Originations Market Monitor provides a comprehensive and timely view into origination activity.

Key Points: 
  • Optimal Blue released its November Originations Market Monitor, with data showing a 10% drop in lock volume month over month.
  • The Optimal Blue Mortgage Market Indices (OBMMI) 30-year conforming rate dropped 67 bps in November, finishing the month at 7.11%.
  • The Optimal Blue Mortgage Market Indices (OBMMI) 30-year conforming rate dropped 67 basis points (bps) in November, finishing the month at 7.11%.
  • View the Optimal Blue Originations Market Monitor report for more details on November's activity: https://www2.optimalblue.com/OMM-Report-November-2023
    Nothing herein shall be construed as, nor is Optimal Blue providing, any legal, trading, hedging, or financial advice.

Paving the Path to Homeownership, Alliant Credit Union Launches New Mortgage Offerings

Retrieved on: 
Thursday, December 7, 2023
LendingTree, USDA, Veterans' affairs, Insurance, FHA, Alliant Credit Union, Veteran, Federal Housing Administration, Physician, Zillow, Real estate, Bankrate, Alliant

CHICAGO, Dec. 7, 2023 /PRNewswire/ -- Aiming to make the dream of home ownership a reality for more Americans, Alliant Credit Union announced several new mortgage offerings and a new home construction loan. Alliant, one of the nation's largest credit unions, is partnering with real estate industry giants Zillow, Bankrate and Lending Tree to bring the new products to more people.

Key Points: 
  • Recognizing the challenges posed in a landscape of soaring mortgages and home prices, Alliant is committed to enabling more Americans to achieve their homeownership goals.
  • VA (Veterans Affairs) mortgage: Exclusively for veterans, this product offers a 0% down payment option, coupled with the advantage of no monthly mortgage insurance.
  • Construction loans: Alliant Credit Union introduces a unique one-time close product, facilitating financing during the construction phase, automatically converting to a permanent end-loan mortgage upon project completion.
  • said Dan Bauer, Head of Residential Lending for Alliant Credit Union.

Silverton Mortgage Offers New Loans With 100% Financing

Retrieved on: 
Thursday, November 30, 2023
Naming convention (programming), USDA, Down payment, Convention (norm), National Association, FHA, Veteran, Partnership, NAR, Real estate, Bank

ATLANTA, Nov. 30, 2023 /PRNewswire-PRWeb/ -- Hundreds of thousands of Americans are currently considering homeownership, but are facing a major hurdle of a down payment on a new home. According to the National Association of Realtors® (NAR), the median sales price for existing homes in January 2023 was $359,000, which means that a potential homeowner trying to save up a 10% down payment would need close to $40,000.

Key Points: 
  • Silverton Mortgage, a leading direct residential mortgage lender, has programs that can help potential home buyers obtain a mortgage loan with no cash down.
  • - Dan Dadoun, president of Silverton Mortgage
    Silverton Mortgage, a leading direct residential mortgage lender, has programs that can help potential home buyers obtain a mortgage loan with no cash down.
  • "We know that homeownership is becoming increasingly difficult for the average American to achieve," said Dan Dadoun, president of Silverton Mortgage.
  • Silverton also offers 100% financing options through both VA and USDA loans.

HOME-MORTGAGE LENDING DECLINES AGAIN ACROSS U.S. DURING THIRD QUARTER AS MORTGAGE RATES CLIMB

Retrieved on: 
Thursday, November 30, 2023
Sale, Autumn, Summer, Federal Housing Administration, FHA, Trust, Metro, Housing, Growth, Credit, Real estate, Bank, Video game, Arms industry, Music, Airline, Boston, MD, HELOC

IRVINE, Calif., Nov. 30, 2023 /PRNewswire/ -- ATTOM, a leading curator of land, property, and real estate data, today released its third-quarter 2023 U.S. Residential Property Mortgage Origination Report, which shows that 1.54 million mortgages secured by residential property (1 to 4 units) were issued in the United States during the third quarter, representing a 3 percent decline from the prior three-month period. That drop-off marked the ninth decline in the last 10 quarters – a string broken only by a spike during the second quarter of this year.

Key Points: 
  • That was down 4 percent from the second quarter of 2023 and 28 percent from the third quarter of last year.
  • Lenders originated 751,720 purchase mortgages in the third quarter of 2023, down from 807,729 in the second quarter.
  • Home-equity lines of credit (HELOCs) also decreased in the third quarter of 2023, partly reversing a second quarter gain.
  • HELOC mortgage originations decreased from the second quarter of 2023 to the third quarter of 2023 in 67 percent of the metro areas analyzed.

Union Home Mortgage Announces Details of Twin Cities Branch Ribbon Cutting

Retrieved on: 
Tuesday, November 28, 2023
Union Home Mortgage, Celebration, USDA, Convention (norm), History, Commerce, Culture, FHA, UHM, Partner, Chris, Partnership, Housing, Communication, Growth, Family, Real estate

STRONGSVILLE, Ohio, Nov. 28, 2023 /PRNewswire/ -- Union Home Mortgage (UHM), a high-growth independent mortgage banking company with a world-class culture, announced today the details of a ribbon cutting event in celebration of a partnership between its west Minneapolis branch and the local Wayzata Chamber of Commerce. The event will occur at 4pm on December 4th at the branch location, 3525 Plymouth Blvd. Plymouth, MN.

Key Points: 
  • STRONGSVILLE, Ohio, Nov. 28, 2023 /PRNewswire/ -- Union Home Mortgage (UHM), a high-growth independent mortgage banking company with a world-class culture, announced today the details of a ribbon cutting event in celebration of a partnership between its west Minneapolis branch and the local Wayzata Chamber of Commerce.
  • The event will occur at 4pm on December 4th at the branch location, 3525 Plymouth Blvd.
  • The branch is led by Chris Carr, a 25-year veteran of the financial services industry.
  • There are no employees at Union Home Mortgage, only Partners, a title reflecting the company's deep commitment to its people and its exceptional culture, unrivaled in the mortgage industry.

The Covent Ribbon-Cutting Celebrated the Opening of 30 Newly Rehabbed Affordable Apartments

Retrieved on: 
Tuesday, November 28, 2023
General contractor, Accounting, CHA, Bank, Organization, Architect, SRO, AHP, FHA, Public housing, Homelessness, HUD, LIHTC, Partnership, Housing, NHP, Merchant capitalism, Disability, Chicago Housing Authority, Nightclub, Covent Hotel

NEW YORK, Nov. 28, 2023 /PRNewswire-PRWeb/ -- The NHP Foundation (NHPF) yesterday celebrated the re-opening of the Covent Apartments, 30 affordable studio apartments developed from the Covent Hotel, an SRO in the Lincoln Park neighborhood of Chicago in a Ribbon-Cutting ceremony.

Key Points: 
  • NEW YORK, Nov. 28, 2023 /PRNewswire-PRWeb/ -- The NHP Foundation (NHPF) yesterday celebrated the re-opening of the Covent Apartments, 30 affordable studio apartments developed from the Covent Hotel, an SRO in the Lincoln Park neighborhood of Chicago in a Ribbon-Cutting ceremony.
  • The project also received a $698,910 Affordable Housing Program ("AHP") General Fund grant from FHLBank Chicago.
  • The Covent Apartments follows the development of NHPF's first SRO deal in Chicago, the Mark Twain which provides 148 service-enriched affordable apartments.
  • In addition to the 30 apartments, the Covent features onsite laundry facilities, a community room and an outdoor space.

PenFed Credit Union and Quattro Win 2023 MarCom Platinum and Gold Awards

Retrieved on: 
Tuesday, November 21, 2023
Creativity, Platinum, Quattro, Gold, Blog, Professional, FHA, Marketing, Pentagon Federal Credit Union, Partnership, Newsfirst Platinum Awards, Communication, Requirement, Marcom

TYSONS, Va., Nov. 21, 2023 /PRNewswire/ -- PenFed Credit Union, the nation's second-largest federal credit union, and Quattro, an award-winning, Philadelphia area direct results agency specializing in financial services marketing, today announced their work was selected for a platinum and gold award at the 2023 MarCom Awards. The MarCom Awards honor excellence in marketing and communication while recognizing the creativity, hard work and generosity of industry professionals.

Key Points: 
  • TYSONS, Va., Nov. 21, 2023 /PRNewswire/ -- PenFed Credit Union , the nation's second-largest federal credit union, and Quattro , an award-winning, Philadelphia area direct results agency specializing in financial services marketing, today announced their work was selected for a platinum and gold award at the 2023 MarCom Awards.
  • The MarCom Awards honor excellence in marketing and communication while recognizing the creativity, hard work and generosity of industry professionals.
  • "The infographic and blog post selected for these awards reflect our commitment to our members' financial wellbeing and financial literacy."
  • MarCom's Platinum Award is presented to those entries judged to be among the most outstanding entries in the competition.

The National Association of Mortgage Brokers Encourages the FHA to Modify Its Life-Of-Loan Premium Policy

Retrieved on: 
Monday, November 20, 2023
Presidency of Joe Biden, MIP, Policy, Mortgage broker, Mortgage Bankers Association, Life, Insurance, GSE, National Association, FHA, Social media, American Bankers Association, Human, Education, Real estate

WASHINGTON , Nov. 20, 2023 /PRNewswire-PRWeb/ -- The National Association of Mortgage Brokers (NAMB), the voice of the mortgage industry representing the interests of mortgage professionals and home buyers for 50-years, encourages the FHA and Biden Administration to end its Life-of-Loan Premium Policy.

Key Points: 
  • WASHINGTON , Nov. 20, 2023 /PRNewswire-PRWeb/ -- The National Association of Mortgage Brokers ( NAMB ), the voice of the mortgage industry representing the interests of mortgage professionals and home buyers for 50-years, encourages the FHA and Biden Administration to end its Life-of-Loan Premium Policy.
  • "Immediately ending the FHA life-of-loan premium policy is an urgent matter which elected officials in Washington D.C. should address promptly to bring relief to borrowers across the United States," said Valerie Saunders, NAMB President.
  • "FHA policy should be aligned with similar policies adhered to by the GSEs.
  • The National Association of Mortgage Brokers has been the voice of the mortgage industry representing the interests of mortgage professionals and homebuyers since 1973.

Fairway Mortgage Ranked #1 in the U.S. for Borrower Satisfaction Among Mortgage Origination Companies by J.D. Power

Retrieved on: 
Thursday, November 16, 2023
ASAP, Research, Hiccup, USDA, FHA, FHA insured loan, J.D. Power, VA loan, Customer satisfaction, Real estate, Fairway

MADISON, Wis., Nov. 16, 2023 /PRNewswire/ -- Fairway Independent Mortgage Corporation, America's #2 retail mortgage lender overall, was today named #1 for customer satisfaction among mortgage origination companies in the J.D.

Key Points: 
  • MADISON, Wis., Nov. 16, 2023 /PRNewswire/ -- Fairway Independent Mortgage Corporation, America's #2 retail mortgage lender overall, was today named #1 for customer satisfaction among mortgage origination companies in the J.D.
  • Fairway Mortgage Ranked #1 in Customer Satisfaction Among Mortgage Origination Companies Based on J.D.
  • Power Survey
    "At Fairway we continually talk about the primary need for speed, and the importance of smooth and timely closings.
  • Integral to Fairway being named the Highest Ranked Mortgage Originator for Customer Satisfaction is Fairway's track record in delivering dependable closings.

Newmark Names Sharon Karaffa as President, Multifamily Debt & Structured Finance

Retrieved on: 
Monday, November 13, 2023
Newmark Group, Acquisition, Culture, FHA, Fannie Mae, Debt, Capital market, Finance, TruAmerica Multifamily, Partnership, Retirement, Growth, László Karaffa, Freddie Mac, Commercial property, Newmark

NEW YORK, Nov. 13, 2023 /PRNewswire/ -- Newmark Group, Inc. (Nasdaq: NMRK) ("Newmark" or "the Company"), a leading commercial real estate adviser and service provider to large institutional investors, global corporations, and other owners and occupiers announces the appointment of Newmark's Sharon Karaffa as President, Multifamily Debt & Structured Finance. Karaffa will serve next to Chief Strategy Officer and President, Multifamily Capital Markets Jeff Day through year-end, concurrent with Day's planned retirement effective December 31, 2023. Karaffa will lead Multifamily Capital Markets in partnership with Chad Lavender, President of North America Capital Markets, who will serve as interim Head of Multifamily Investment Sales.

Key Points: 
  • NEW YORK, Nov. 13, 2023 /PRNewswire/ -- Newmark Group, Inc. (Nasdaq: NMRK) ("Newmark" or "the Company"), a leading commercial real estate adviser and service provider to large institutional investors, global corporations, and other owners and occupiers announces the appointment of Newmark's Sharon Karaffa as President, Multifamily Debt & Structured Finance.
  • Karaffa will lead Multifamily Capital Markets in partnership with Chad Lavender, President of North America Capital Markets, who will serve as interim Head of Multifamily Investment Sales.
  • In her new role, Karaffa will oversee all aspects of Multifamily Debt & Structured Finance, focusing on revenue growth, business development and client and lender relationships while also leading Newmark's Fannie Mae, Freddie Mac and FHA lending platforms.
  • Karaffa has over 20 years of experience, the majority of which has been in multifamily finance.