Lending

FHFA announces conforming loan limits for Fannie and Freddie mortgages
FHFA announces conforming loan limits for Fannie and Freddie mortgages

The Federal Housing Finance Agency (FHFA) recently announced its 2022 conforming loan limits (CLL) for conventional loans acquired by Fannie Mae and Freddie Mac.

Mortgage applications fall over Thanksgiving week as rates rise
Mortgage applications fall over Thanksgiving week as rates rise

“Despite higher mortgage rates, purchase applications had a strong week, mostly driven by a 6% increase in conventional loan applications.” — MBA associate vice president of economic and industry forecasting Joel Kan

Guaranteed Rate’s Shant Banosian funds $2 billion in loan volume
Guaranteed Rate’s Shant Banosian funds $2 billion in loan volume

Banosian has funded $2 billion in total loan volume this year, becoming the company’s first loan originator to reach that milestone.

Guaranteed Rate announces executive leadership changes
Guaranteed Rate announces executive leadership changes

Company officials say the organizational changes will support the company’s record-setting growth.

Mortgage applications decline despite drop in interest rates
Mortgage applications decline despite drop in interest rates

“Mortgage rates decreased for the first time since August, as concerns about supply-chain bottlenecks, waning consumer confidence, weaker economic growth and rising inflation pushed Treasury yields lower.” — MBA associate vice president of economic and industry forecasting Joel Kan

Mortgage applications rise despite increase in interest rates
Mortgage applications rise despite increase in interest rates

At the same time, the increase in interest rates drove fewer borrowers to refinance their loans, according to the Mortgage Bankers Association.

Democratic senators propose 20-year mortgage for low-income, first-time homebuyers
Democratic senators propose 20-year mortgage for low-income, first-time homebuyers

The Low-Income First Time Homebuyers Act (LIFT) establishes a program to sponsor 20-year mortgages that would build equity at twice the rate of a conventional 30-year mortgage.

Mortgage rates remain flat at 2.88%
Mortgage rates remain flat at 2.88%

The 30-year fixed-rate mortgage held flat at 2.88% for the week ended Sept. 9, after dropping earlier this summer, according to Freddie Mac’s latest Primary Mortgage Market Surveys. The 2.88% average 30-year fixed-rate mortgage was up slightly from the

Compass, Guaranteed Rate launch loan origination company OriginPoint
Compass, Guaranteed Rate launch loan origination company OriginPoint

Two of the largest leaders in the real estate market are joining forces to form a new mortgage origination company.

Flyhomes secures $150 million series C funding plan, will expand Seattle operations
Flyhomes secures $150 million series C funding plan, will expand Seattle operations

The startup that allows buyers to make cash offers on homes while trying to secure a mortgage is expanding to new markets while growing existing ones.

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