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Mortgage News Daily

Redfin reports half of shoppers bid on homes sight unseen in June

With a low inventory and coronavirus limiting accessibility, nearly half of home shoppers made offers sight-unseen in June, according to Redfin. In a survey conducted last month, 45% of consumers who purchased a home in the last year put bids on houses without physically seeing them. It’s the highest share since Redfin started tracking the …

Mortgage News Daily

Warren demands answers over latest Wells Fargo scandal

Democratic lawmakers are demanding answers as Wells Fargo becomes embroiled in yet another scandal – this time, over putting mortgage customers in mortgage forbearance programs without their consent. In recent weeks, there have been multiple reports that the scandal-plagued bank has placed borrowers who were not delinquent in mortgage forbearance programs without their knowledge or …

Mortgage News Daily

Wyoming housing prices rising at recent record rate

Wyoming’s average home price has risen nearly 10% since early last year, marking the fastest rate of increase in the state’s real estate valuations since the third quarter of 2007. That uptick, while indicative of a buoyant real estate market in the state, reflects a more complex dynamic of supply and demand that some experts …

Mortgage News Daily

Zillow-D.R. Horton partnership offers home sellers several perks

Zillow has announced an exclusive partnership with D.R. Horton, offering their shared customers several perks and a “more seamless experience.” New home construction picked up pace this summer to meet rising demand. However, syncing the timing of the sale of their existing home and the closing of the new one has remained a challenge for …

Mortgage News Daily

AFR rolls out Streamline Express program

American Financial Resources (AFR) has rolled out a new program that aims to simplify and accelerate the credit-approval process. The newly launched Streamline Express program offers AFR borrowers a faster process, and special pricing for eligible FHA refinances. The company said that it saw the recent declines in interest rates as an opportunity to improve …

Mortgage News Daily

Mr. Cooper second-quarter 2020 earnings a net positive

Mr. Cooper was profitable for the third time in the past four quarters on the strength of its mortgage origination business. The company had second-quarter net income of $73 million; that included a $261 million mark-to-market loss from its mortgage servicing rights portfolio.In the first quarter, Mr. Cooper lost $171 million because of a $325 …

Mortgage News Daily

Should You Wait For Lower Rates?

Mortgage rates have fallen more aggressively than ever and they’ve been remarkably willing to set record after record. So is there any reason you shouldn’t wait for them to go even lower? This is an age old question any time rates fall to long-term lows.  In the past, the answer has been pretty easy.  If …