Future Technology
This edition of our magazine tackles pressing issues such as …
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In The News
Mortgage Application Payments Increased 0.3 Percent To $2,133 In November
Homebuyer affordability declined in November, with the national median payment applied for by purchase applicants increasing to $2,133 from $2,127 from October. This is according to the Mortgage Bankers Association’s (MBA) Purchase Applications Payment Index (PAPI), which measures how new monthly mortgage payments vary across time – relative to income – using data from MBA’s Weekly Applications Survey (WAS).
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Calque And Matador Lending Partner To Provide The Trade-In Mortgage
Matador Lending, a Texas-based mortgage company, has partnered with Calque to offer The Trade-In Mortgage™ to California, Florida, Georgia, and Texas borrowers. This innovative loan option allows homeowners to utilize the equity in their existing property to buy a new home without selling their current one first.
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Planet Names Candice McNaught As SVP, Business Development And Strategic Initiatives
Planet Home Lending has hired Candice McNaught as Senior Vice President, Business Development and Strategic Initiatives for the Distributed Retail channel. McNaught brings more than 16 years of experience in driving revenue growth, recruiting high-performing sales teams, and implementing strategic initiatives across the financial industry.
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CHLA Applauds FHA For Issuing Optional Reimbursement Alternative Mortgage Letter
Scott Olson, executive director of the Community Home Lenders of America (CHLA) released the following statement:
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The Future Is Brighter
This issue of our newspaper tackles pressing issues such as …
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MBA And State MBAs, Consumer Advocates Welcome Long-Awaited Rule On PACE Loans
The Mortgage Bankers Association (MBA) and National Consumer Law Center (NCLC), along with the California Mortgage Bankers Association, Housing Policy Council, Jacksonville Area Legal Aid, Mortgage Bankers Association of Missouri, Mortgage Bankers Association of Florida, and Public Counsel of California issued the following joint statement in response to the Consumer Financial Protection Bureau’s (CFPB) final rule on consumer protections for residential Property Assessed Clean Energy (PACE) loans1. PACE programs offer financing to cover the costs of home improvements, most often energy efficiency improvements or solar installation, with the cost added to the homeowner’s tax bill.
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Constructive Capital Hires Megan Castleton As Chief Credit Officer
Constructive Capital, a wholesale capital provider for mortgage brokers and real estate investors, has hired Megan Castleton as chief credit officer. In this role, Castleton will develop and implement credit policies to ensure sound lending practices and drive technological innovation.
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A&D Mortgage Unveils New Non-QM Securitization
A&D Mortgage, a Non-QM lender; Atlas Merchant Capital; and Imperial Fund Asset Management, have successfully priced its latest securitization, A&D Mortgage Trust 2024-NQM6 (ADMT 2024-NQM6). This $303.9 million transaction, backed by 872 newly originated non-prime residential mortgages, reflects the success of this joint venture in addressing the evolving needs of borrowers and investors.
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Mortgage Applications Increased 5.4 Percent From One Week Earlier
Mortgage applications increased 5.4 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending December 6, 2024. Last week’s results included an adjustment for the Thanksgiving Holiday.
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