Loan Trading Platform; Fannie’s Earnings and Conforming Updates; 3% Down Program

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Posted To: Pipeline Press

Moody’s addresses what every LO knows – the next area of “opportunity” in the mortgage market: next area of “opportunity” in the mortgage market : cash-out refinances. As many CLTVs are approaching 75%, homeowners may choose to do a cash-out to either consolidate higher rate debt, do home improvements, or move out of an ARM. Or refinance an FHA loan that has accumulated enough equity to qualify for a conforming loan without MI. With rising home prices and rising interest rates, cash-outs will dominate the dwindling percentage of refis. Random Fannie, Freddie, Conventional Conforming News This morning Fannie Mae reported net income of $4.3 billion and comprehensive income of $3.9 billion for the first quarter of 2018. (This compares to a net loss of $6.5 billion…(read more)

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