Remote Notarization Evolves Amid Push to Make It Permanent
Industry groups want Massachusetts to join most other states in making remote online notarization not only permanent, but more advanced than the practice that became common during the pandemic.
Eastern Bank Commits to 500 ONE Mortgage Affordable Loans
Eastern Bank has agreed to increase its participation in the ONE Mortgage affordable homeownership lending program over a five-year period, doubling its annual loan production.
Settlement for Company in Mortgage Education Fraud Scheme
The owner of a California-based mortgage education course provider has agreed to cooperate with state agencies investigating loan originators who allegedly avoided taking required classes to maintain their mortgage licenses.
Condominium Mortgages Continue to Grow
Massachusetts’ strong market for condominium purchase mortgages continued in July, with low interest rates helping to drive volumes of more than $1 billion.
Fannie Mae to Add Rental Payment History to Lending Platform
Mortgage lenders using Fannie Mae’s systems will soon be able to consider rental payment history when deciding whether to approve a loan, a change that could help increase Black homeownership.
Second Motto Mortgage Location Opens in Massachusetts
Motto Mortgage has added its second Massachusetts office, Motto Mortgage Residential in Plymouth.
Bank of America Pledges $15B for Homeownership Initiative
Bank of America plans to triple the investment in its affordable homeownership initiative in 50 of its market areas, including Greater Boston.
Mortgage Activity Drives Q3 Earnings at MA Stock Banks
Massachusetts’ stock banks have continued to see positive earnings during the pandemic, with the third quarter giving at least one local bank the best quarter in its history.
Share of Mortgages in Forbearance Keeps Rising As Credit Access Shrinks
The Mortgage Bankers Association’s latest survey showed that the total number of loans now in forbearance increased from 8.46 percent of servicers’ portfolio volume as of May 24 to 8.53 percent as of May 31. According to MBA’s estimate, almost 4.3 million homeowners are now in forbearance plans.
Mortgage Magazine Acquired by American Business Media
West Hartford, Connecticut-based American Business Media LLC has acquired Mortgage News Network Inc., the Long Island-based publisher of National Mortgage Professional Magazine.
Redfin Mortgage Starts Operating in Massachusetts
Massachusetts homebuyers can now get a mortgage through Redfin Mortgage LLC, a subsidiary of the technology-powered residential real estate company Redfin.
Don’t Be Afraid to Shop Around for a Better Mortgage Deal
It’s one of the weirder documented facts about homebuying in America: Surprising numbers of consumers don’t bother to shop for mortgage money, even though they could save tens of thousands of dollars through lower interest payments by doing so.
Proposed Changes to GSEs Could Add $800 to Boston Borrowers’ Mortgage Payments
Proposed reforms to the government-sponsored enterprises that guarantee the majority of U.S. home loans could drive up monthly housing costs and diminish housing affordability for many Americans, according to recent analysis from Zillow.
Mortgage Rates Dip Slightly
The Federal Home Loan Mortgage Corp. (Freddie Mac) announced the average 30-year fixed mortgage rate dropping slightly after last week’s jump today.
A Mortgage After Retirement Isn’t A Problem – It’s A Plan
Baby Boomers are more likely to have a mortgage when they retire than the generation born between the mid-1920s and the mid-1940s, and while that trend worries some economists, other experts say post-retirement debt can be a smart move.
Millennials Anxious About Down Payments
Anxiety about having enough money for a down payment is one of the factors keeping Millennial renters from buying a home, according to a new national survey by LoanDepot cited in the September 2017 Down Payment Report.
CFPB Finalizes ‘Know Before You Owe’ Updates
The Consumer Financial Protection Bureau on Friday finalized updates to the agency’s “know before you owe” mortgage disclosure rule, hoping not only to formalize guidance of the rule, but also to provide greater clarity to an initiative that took effect in October 2015.
Insurance M&A Activity Reflects Global Trends Gone Regional
Merger and acquisition activity in the insurance sphere on the global stage cooled off in 2016 compared to the previous year, but the picture is different in the insurance distribution arena, where activity remained strong last year going into this year.
Condo Financing Program Could Be Making A Comeback
Could condominiums financed with low down payment government-backed mortgages stage a surprise comeback under the Trump administration, which generally seeks to reduce federal involvement in housing?
