U.S. housing markets are entering a more balanced phase: active listings are up sharply, but a rising number of pending sales are falling apart, signaling a disconnect between buyers and sellers amid continued affordability pressures. Active listings climbed to approximately 1.36 million in June, marking a double-digit increase from a year earlier and the highest level seen since late 2019.
The decades-old rivalry between credit scoring titans FICO and VantageScore has escalated dramatically, especially on the heels of a recent policy shift by the Federal Housing Finance Agency (FHFA). Mortgage lenders can now submit applications to Fannie Mae and Freddie Mac using either VantageScore 4.0 or the tried-and-tested Classic FICO model, triggering heated competition and scrutiny.
U.S. housing markets are undergoing a significant shift: inventory levels are climbing, and home sale cancellations are hitting historic highs, pointing to rising tension between buyers and sellers amid persistent affordability challenges. Active listings rose to 1.36 million in June, a 2.3% increase from May and a notable 17.2% jump compared to the same time last year.
The Federal Housing Finance Agency (FHFA) has sparked debate in the mortgage industry by directing Fannie Mae and Freddie Mac to explore whether cryptocurrency assets should be considered in loan underwriting. The potential move signals a significant shift in how digital assets might be evaluated in determining mortgage eligibility.
Shares of Fair Isaac Corp. (FICO), the company behind the widely used FICO credit score, fell sharply after a major shift in the credit scoring landscape. The drop came after Fannie Mae and Freddie Mac announced they would begin accepting the competing VantageScore 4.0 credit model, ending FICO's long-standing exclusivity in government-backed mortgage underwriting.
I get emails, phone calls and visits from loan officers on a regular basis, all wanting me to refer my buyers to them for financing. I have coffee cups, paper pads, pens, post-its, calculators, key chains, calendars and business cards galore, all from loan officers wanting me to send business their way.
Opinion-Editorial (Op-Ed) Disclaimer For NAMU® Library Articles: The views and opinions expressed in the NAMU® Library articles are those of the authors and do not necessarily reflect any official NAMU® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMU®. Nothing contained in this articles should be considered legal advice.
I just had a short sale approved through Equator in about 30 days and we will probably close it in about 60 days. This is just beautiful! The seller is happy, the buyer is happy and I am happy. It was easy to execute, everybody was aware of the status at all times, when something was needed, it was posted and we jumped to get it addressed.
ail Foster
I just had a short sale approved through Equator in about 30 days and we will probably close it in about 60 days. This is just beautiful! The seller is happy, the buyer is happy and I am happy. It was easy to execute, everybody was aware of the status at all times, when something was needed, it was posted and we jumped to get it addressed.
Opinion-Editorial (Op-Ed) Disclaimer For NAMU® Library Articles: The views and opinions expressed in the NAMU® Library articles are those of the authors and do not necessarily reflect any official NAMU® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMU®. Nothing contained in this articles should be considered legal advice.
The Housing Sales numbers for July are out and the stock market lost 134 points today because they were miserable. The lowest monthly home sales since 1999. We aren’t moving forward, we are moving backwards. It is time for some creative thinking so that we can begin to put the housing market on firm footing.
Opinion-Editorial (Op-Ed) Disclaimer For NAMU® Library Articles: The views and opinions expressed in the NAMU® Library articles are those of the authors and do not necessarily reflect any official NAMU® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMU®. Nothing contained in this articles should be considered legal advice.
I’ve told a horror story or two about some of my customer’s experiences with lenders. The reason we have horror stories is because most people have no idea how to choose a lender. Most use origination points and interest rate as criteria for making their choice but this doesn’t reflect a lender’s ability to close a loan smoothly, with finesse and good customer service.
Opinion-Editorial (Op-Ed) Disclaimer For NAMU® Library Articles: The views and opinions expressed in the NAMU® Library articles are those of the authors and do not necessarily reflect any official NAMU® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMU®. Nothing contained in this articles should be considered legal advice.
Economic times are difficult. Home sales are down. There are many sellers and few buyers. In fact, when you discuss the opportunities for home ownership, most just shake their heads and say they doubt they’ll qualify. We live in the land of opportunity and the American Dream is becoming a nightmare.
Opinion-Editorial (Op-Ed) Disclaimer For NAMU® Library Articles: The views and opinions expressed in the NAMU® Library articles are those of the authors and do not necessarily reflect any official NAMU® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMU®. Nothing contained in this articles should be considered legal advice.
I had a closing about a month ago on a Friday morning. We didn’t leave the title company until 6 hours later! We sat six hours at the settlement table waiting for settlement sheet adjustments to be approved. What can take six hours? I can write out bills, make deposits, clean my kitchen, hit the yard sales, get my hair done and walk my dog in less than six hours.
Opinion-Editorial (Op-Ed) Disclaimer For NAMU® Library Articles: The views and opinions expressed in the NAMU® Library articles are those of the authors and do not necessarily reflect any official NAMU® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMU®. Nothing contained in this articles should be considered legal advice.
I read Bonnie’s blog from Monday and just burst out laughing. Bonnie and I have been friends for about six years and have spent many a night sitting across the table with a beer, discussing the mortgage industry. She was an underwriter and then, I was a loan officer.
Opinion-Editorial (Op-Ed) Disclaimer For NAMU® Library Articles: The views and opinions expressed in the NAMU® Library articles are those of the authors and do not necessarily reflect any official NAMU® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMU®. Nothing contained in this articles should be considered legal advice.
I don’t know about you but it just seems to go from bad to worse. May home sales statistics were the slowest ever and June doesn’t seem much better. I have seller’s listing their homes hoping that low interest rates will give pop to the market and buyers are just taking their time.
Opinion-Editorial (Op-Ed) Disclaimer For NAMU® Library Articles: The views and opinions expressed in the NAMU® Library articles are those of the authors and do not necessarily reflect any official NAMU® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMU®. Nothing contained in this articles should be considered legal advice.
Summer’s here, seems like everybody’s on vacation and the real estate market is slow. Now is the perfect time to start building business for the future. I remember when I was a loan officer that there were certain times of the year that loan production dropped.
Opinion-Editorial (Op-Ed) Disclaimer For NAMU® Library Articles: The views and opinions expressed in the NAMU® Library articles are those of the authors and do not necessarily reflect any official NAMU® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMU®. Nothing contained in this articles should be considered legal advice.
We all know that a real estate contract of sale is an agreement between a buyer and a seller regarding the purchase of a property, as well as the terms and conditions each participant is required to execute within certain time frames to be “in contract”.
Opinion-Editorial (Op-Ed) Disclaimer For NAMU® Library Articles: The views and opinions expressed in the NAMU® Library articles are those of the authors and do not necessarily reflect any official NAMU® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMU®. Nothing contained in this articles should be considered legal advice.
Written By: Stacey Sprain
As an FHA originator, processor or underwriter, it’s likely that in the ongoing foreclosure market you’ll run across a HUD REO loan at some point. The purpose of this multi-part article is to provide you with some useful information to help in your endeavors.