Mortgages | firsttuesday Journal

Mortgage Concepts: The birth of the adjustable rate mortgage (ARM)

by Carrie B. Reyes | Jun 3, 2023 | Feature Articles, Finance, Interest Rates, Loan Products, Mortgages, Real Estate, Video | 0

The face of the ARM has changed over the years, most markedly during the Millennium Boom of the mid-2000s.

Commercial mortgage lending slides in 2023

by Carrie B. Reyes | Jun 3, 2023 | Economics, Finance, Mortgages, Real Estate, Recessions | 0

MLOs betting their income on commercial and multi-family lending in 2023 will be disappointed.

California tiered home pricing

by ft Editorial Staff | Jun 1, 2023 | Bay Area, Charts, first tuesday Local, Los Angeles-Santa Barbara-Ventura, Mortgages, Real Estate, San Diego | 28

Home prices have plunged across California’s metropolitan areas.

Unlicensed finance company president found guilty of operating mortgage fraud scheme

by Amy Perry | May 25, 2023 | Mortgages, Real Estate, Recessions | 0

The president of a mortgage foreclosure consultant company was convicted of 100 felony counts for operating a mortgage fraud scheme in California.

FHA lengthens amortization of delinquent mortgages to 40 years

by ft Editorial Staff | May 19, 2023 | Finance, Mortgages, Real Estate | 0

The Federal Housing Administration (FHA) is keeping their mortgaged homeowners who are delinquent in payments on the books.

MLO Recession Side Hustle Guide [e-book]

by ft Editorial Staff | May 19, 2023 | Feature Articles, Mortgages, Real Estate, Recessions, Your Practice | 0

Learn how mortgage origination providers will survive the ongoing downturn in mortgage originations with this RPI ebook.

Mortgage Concepts: Trustee’s Sale: Sold to the Highest Bidder

by ft Editorial Staff | May 17, 2023 | Feature Articles, Loan Products, Mortgages, Video | 1

This video explains the procedures followed for a trustee’s sale in California.

New mortgage premium structure signifies a transfer of wealth

by Amy Perry | May 8, 2023 | Finance, Mortgages, Real Estate | 0

The FHFA has altered their mortgage insurance premiums. Now, borrowers with lower credit scores and down payments will be paying less under the new structure than they did under the old.

DRE Hot Seat: Prison time for a broker who committed heinous mortgage fraud

by Amy Perry | Apr 27, 2023 | Fundamentals, Licensing and Education, Mortgages, Real Estate | 1

This article is part of an ongoing series covering violations of real estate law. Here, the California Department of Justice (DOJ) sentenced a broker to 5 years and 4 months in prison and ordered him to pay restitution for creating forged and fraudulent records to obtain more than $8 million in mortgages for his clients in order to earn fees for himself.

Mortgage Concepts: Steering homeowners to preferred counselors on HECMs

by ft Editorial Staff | Apr 17, 2023 | Loan Products, Mortgages, Video | 0

This Mortgage Concepts explainer video breaks down counseling requirements for consumers considering a Home Equity Conversion Mortgage (HECM).

Loan production costs are drowning mortgage brokers

by Carrie B. Reyes | Apr 13, 2023 | Economics, Finance, Mortgages, Real Estate, Recessions | 0

Just 32% of loan companies were able to remain profitable in 2022.

Using the yield spread to forecast recessions and recoveries

by ft Editorial Staff | Apr 13, 2023 | Charts, Interest Rates, Mortgages, Real Estate, Recessions | 35

The yield spread indicates the likelihood of a recession or recovery one year forward.

Press Release: Q1 2023 Buyer Purchasing Power Index down 23% from a year earlier

by Carrie B. Reyes | Apr 2, 2023 | Charts, Economics, Interest Rates, Mortgages, Real Estate, Recessions | 1

A homebuyer with the same income is able to borrow 23% less purchase-assist mortgage money than a year ago due to interest rate hikes alone.

Mortgage Concepts: ARM awareness by an informed consumer

by ft Editorial Staff | Mar 27, 2023 | Finance, Interest Rates, Loan Products, Mortgages | 0

This Mortgage Concepts video breaks down the critical elements of an adjustable rate mortgage (ARM).

National mortgage balances increased by $1 trillion in 2022

by Amy Perry | Mar 24, 2023 | Finance, Mortgages, Real Estate, Recessions | 1

During the fourth quarter of 2022, total national mortgage debt increased by $254 billion, contributing to a $1 trillion increase in mortgage balances in 2022.

Mortgage delinquencies rise from historic low

by Carrie B. Reyes | Mar 10, 2023 | Economics, Finance, Mortgages, Real Estate, Recessions | 0

While home sales volume is plummeting and home prices are spiraling, there is one housing factor on the rise — mortgage delinquencies.

Redlining practices cost LA-based lender $31 million in settlement

by Amy Perry | Mar 10, 2023 | Fair Housing, first tuesday Local, Fundamentals, Laws and Regulations, Los Angeles-Santa Barbara-Ventura, Mortgages, Real Estate | 0

The largest redlining settlement in the Justice Department’s history involved a lender servicing Los Angeles who achieved disproportionately low numbers of mortgages from minority areas.