Mortgage Press

Mortgage rates have been improving since the Fed’s mid-day meeting Wednesday.

Mortgage rates and the Fed Funds Rate have different masters. The former is by Wall Street; the latter by government committee. Use government clues to make sure you lock your mortgage rate at just the right time.

If you are a good loan officer, you are already getting ready for 2012. Many are asking, what will next year bring to the industry? My advice will be the same as it is in most years … be prepared. Of course, you might ask me, “Be prepared for what?” The answer is—be prepared for everything and anything.

What could happen in the next year? On the negative side …

►Rates could rise and refis could stop before real estate recovers (witness early 2011).Click to continue

Hammerhouse LLC has released the results of its Second Annual Survey of Originator Opinions. This 14-question survey was completed by a statistically significant sample of approximately 400 active mortgage loan originators and asked originators for their opinions on critical issues facing the mortgage industry and impacting their job performance. Originators responses indicate a strong preference to:

►See clarification of regulatory issues outstanding in the industry.

►Work with regional rather than national lending organizations.Click to continue

RealtyTrac has released its Third Quarter 2011 U.S. Foreclosure Sales Report, which shows that sales of homes that were in some stage of foreclosure or real estate-owned (REO) properties accounted for 20 percent of all U.S.Click to continue

Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing average mortgage rates climbing as the housing market ended 2011 on a high note. The 30-year fixed-rate mortgage (FRM) averaged 3.98 percent, with an average 0.7 point for the week ending Jan. 26, 2012. This sudden rise in rates is a reversal of the previous three-week trend of setting all-time record lows. However, at 3.98 percent, the eight-week streak continues of rates coming in below the four percent mark. Last year at this time, the 30-year FRM averaged 4.80 percent.Click to continue

The Federal Housing Finance Agency (FHFA) has reported that the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders, used as an index in some adjustable-rate mortgage (ARM) contracts, was 4.15 percent in December, based on loans closed. This represents a slight drop of 0.07 percent from totals of Novermber 2011.Click to continue

The National Association of Home Builders (NAHB) has commended President Barack Obama for offering proposals in Tuesday’s State of the Union Address to help families stay in their homes and stanch foreclosures, and is urging policymakers to take additional actions to mend the housing market and boost the economy.Click to continue

David B. Fein, U.S. Attorney for the District of Connecticut, has announced that Nathan Russo of Johnston, R.I. has been sentenced by Chief United States District Judge Alvin W. Thompson in Hartford to 30 months of imprisonment, followed by three years of supervised release, for his role in an extensive mortgage fraud scheme. According to court documents and statements made in court, between February 2007 and April 2010, Syed Babar of New London, Conn.Click to continue

You’ve heard and read a lot about personal branding, and now you’re ready to post some blogs, upload some videos and build some social networking profiles.

Whoa. Was that the sound of screeching tires? I’m a mortgage broker! Did someone say, post some blogs? About what, you may ask?

If the idea of blogging gives you writer’s block, you’re not alone. Coming up with compelling blog topics as a mortgage professional can be intimidating.Click to continue