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Mortgage News Daily

Homes Sales and Prices in California May Have Hit an Affordability Tipping Point
Posted on Tuesday November 13, 2018

Posted To: MND NewsWire

It may be that California, where home prices have exploded over the last few years, has jumped the shark when it comes to affordability. CoreLogic's Andrew LePage writes in the company's Insights blog that September home sales in the state were the lowest in the country since September2007. The sales report comes in the wake of reports from several sources showing an abrupt slowdown in home price growth in many of the state's largest metros. CoreLogic says the state's annual gain of 4.1 percent in the median home price statewide was the lowest in more than two years. Coupled with higher mortgages rates, the lack of affordability appears to, in LePage's words, have knocked some would-be buyers to the sidelines, unable or unwilling to buy. Sales do historically fade in September as school starts...(read more)

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Non-QM and Construction Products; Training and Events Nationwide and at Home
Posted on Tuesday November 13, 2018

Posted To: Pipeline Press

People vote with their feet. Some population movements are dramatic and garner headlines around the world, others not so much. “About 130,000 more residents left California for other states last year than came here from them…” according to a Sacramento Bee review of the latest census estimates. “They most often went to cheaper, nearby states — and Texas. Since 2001, about 410,000 more people have left California for Texas than arrived from there. That’s roughly equivalent to the population of Oakland.” Perhaps some of those vacated houses will be purchased by Zillow who the Houston Chronicle is telling us is launching a service called Zillow Offers early next year in Houston. Zillow will be making cash offers on homes from qualified sellers and then...(read more)

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Reverse Daily Mortgage

1st Reverse Mortgage USA Brings Reverse Mortgages to Forward Lending
Posted on Monday November 12, 2018

With a rapidly aging population, rising interest rates, and forward loan officers looking for alternatives for their borrowers, 1st Reverse Mortgage USA is working to bridge the gap between forward and reverse lending. Currently ranked 16 on the Top HECM Lenders list from Reverse Market Insight, 1st Reverse Mortgage USA is the reverse mortgage division […]

Reverse Focus Launches New Site for Borrower Education and Lead Generation
Posted on Monday November 12, 2018

Redding, CA-based mortgage sales and management firm Reverse Focus, Inc. has created a new online platform that offers lead generation and borrower education, designed for both originators and borrowers. The site, MyLoanOfficer.US, is designed to feature easily-digestible information about the reverse mortgage product, while also offering users the ability to make connections with originators through […]