Two of the largest leaders in the real estate market are joining forces to form a new mortgage origination company.
Homebuyers lucky enough to win a bidding war these days are increasingly running headlong into appraisals that don’t match — or even come close to — the agreed sales price, leaving them with limited ways to close the sale.
“Demand is robust throughout the country, but homebuyers continue to be held back by the lack of homes for sale and rapidly increasing home prices.” — MBA Associate Vice President of Economic and Industry Forecasting Joel Kan
“Don’t give up, no matter what!” — Teala Smith, residential mortgage lender, Certainty Home Loans
The new technology streamlines workflow in the mortgage industry.
The increase follows a decline earlier in February that cut the number of homeowners in forbearance plans to less than 2.7 million, the first dip below that threshold since April 2020.
“The consistent decline in serious delinquency since August is a sign of growing financial stability for families,” said Frank Martell, president and CEO of CoreLogic.
The trend of purchasing a second home has sent home prices in seasonal towns skyrocketing in value by 19% for the year ending December 2020.
The ad is part of their national brand campaign, Believe You Will, which encourages the power of positive thinking and believing you can accomplish your goals.
This means homebuyers will be able to borrow up to the new level without triggering higher interest rates.