Friday, June 1, 2018
Thursday, May 31, 2018
As much as 43% of the U.S. workforce could be part of the gig economy by 2020. Those who work in the gig economy typically can't qualify for home loans, which is going to be a problem for the housing market if 43% of the workforce can't qualify for a home loan. Fannie and Freddie are working to find solutions to the issue.
[Expert Commentary] Loan officers continue to struggle with greater competition to secure borrowers, but the contest is not all the same across the country. Some markets are more concentrated than others at the lender level and could present tougher challenges.
After two consistent months of modest increase, pending home sales fell to their third-lowest level over the past year. NAR's Chief Economist Lawerence Yun, explained that the market will also experience difficulties this summer, as home buyers combat gas prices, low supply and rising mortgage rates.
As the digital mortgage moves closer and closer to a mortgage-lending industry standard, more and more partnerships are being announced. For those in the LendingLife community, witness this week alone, saw 4 such partnerships. Here they all are.
Tuesday’s LendingLife featured a Bloomberg report sounding a warning on pending mortgage lending crisis. The main allegations in that article is that the Federal Housing Administration insurance program is too over-extended and borrowers too unqualified. It touched a nerve with LendingLife readers, for sure.
Ginnie Mae recently announced new requirements for its Department of Veterans Affairs refinance loans in order to protect service members from predatory lending. The company issued an All Participants Memorandum which announced the implementation of changes to pooling eligibility requirements for VA insured or guaranteed mortgages.