Lending
A 15% rise in applications for adjustable-rate mortgages drove overall mortgage applications higher in the most recent weekly survey.
The executive will be responsible for delivering Victory loan products and services to its affiliated builder, Fischer Homes, its clients and outside customers, as well as overseeing all seven of the firm’s branches.
The private equity owners placed a $60,250,000 bridge loan and an $8 million mezzanine loan on the Buckhead tower.
MBA states that the mortgage delinquency rate has fallen to the lowest rate since it started tracking this metric in 1979.
National Association of REALTORS® Chief Economist Lawrence Yun took issue with the increase, saying the central bank has created “a rare and very tight monetary policy condition.”
The new executive, David Johnson, founded Piedmont Highlands Capital.
The mortgage industry decried the proposed loan-level pricing adjustment for borrowers with higher debt-to-income ratios.
Interest rates on mortgages of all types declined last week, spurring an uptick in borrowing, the Mortgage Bankers Association reported.
As affordability remains a concern, some buyers are purchasing mortgage points.
This was the fourth week in a row of declines, leaving prospective buyers hopeful for sustained low rates throughout spring homebuying season.
The tower, which will have 327 class AA+ apartments, is the third phase of Star Metals District, the $1.5 billion mixed-use, urban-renewal project on Atlanta’s Westside.
The Mortgage Bankers Association noted the increase in borrowing activity came despite the 30-year fixed mortgage rate climbing to its highest level since November 2022.
The firm, Ardent Loans LLC, offers a variety of residential mortgage options.
Mortgage insurance premiums on loans backed by the Federal Housing Administration will drop from 0.85% to 0.55% beginning March 20.
The former Keller Williams lending unit will operate alongside Mutual of Omaha Mortgage’s existing mortgage divisions.
The pace of mortgage applications fell 7.7% in the week ended Feb. 10, the Mortgage Bankers Association reported.