NMP – Mortgage News – Daily News, Rates, and Analysis
The source for daily mortgage news. Rates, analysis, and industry insight for mortgage advisors, originators, bankers, and all loan origination professionals. Home of NMP, Mortgage Banker, and Mortgage Women Magazine.
Rocket Pro TPO First To Announce Conforming Loan Limits For 2025
Sep 13, 2024 · Rocket Pro TPO today announced that it will be the first one to increase the national conforming loan limit for 2025. Rocket’s current loan limit is $766,550. Starting today, brokers working with Rocket Pro TPO can loan up to $802,650. For Alaska and Hawaii, the limit will increase to $1,203,975.
Mortgage Application Rejections Hit Decade High – NMP
Nov 18, 2024 · New data published by the Federal Reserve Bank of New York paints a bleak picture of mortgage origination in 2024, as consumers’ expectations of improving credit conditions remain subdued heading into next year.. The average rejection rate for mortgage refinance applications increased to a decade-plus high of 25.6% this year, a jump from 15.5% last year.
Mortgage Events, Conferences, Webinars, and Expo Shows | NMP
NMPs calendar of upcoming events for originators and mortgage bankers. Attend in-person conferences, expo shows, virtual conferences, webinars, and other events. Find events from our Mortgage Leadership Outlook series to national conferences by Originator Connect Network.
FHA Proposes Looser Boarder Income Requirements For …
Nov 20, 2024 · Today, the Federal Housing Administration (FHA) posted a draft Mortgagee Letter (ML), proposing greater flexibility for borrowers who receive income from individuals renting space inside their property, also called "boarders" by the Single Family Housing Policy Handbook 4000.1. The proposed revision expands underwriting flexibility for borrowers seeking FHA-insured mortgages using that rental ...
Mr. Cooper To Acquire Rushmore Residential Loan Servicing …
Apr 26, 2023 · Rushmore Loan Management Services LLC, a mortgage servicer based in Irvine, Calif., announced Wednesday it has entered into a definitive agreement to sell its residential mortgage servicing platform to Dallas-based Mr. Cooper Group, one of the largest home loan servicers in the country. The deal follows Mr. Cooper's agreement, announced in February, to acquire Rushmore's parent firm, Roosevelt ...
Nominations Open For The 2025 Mortgage Lending Women Of …
Nov 12, 2024 · At National Mortgage Professional, we know that within the mortgage industry, countless women are leading with vision, passion, and resilience. They’re the ones breaking down barriers, lifting others up, and driving meaningful change in their companies and communities. With the 2025 Mortgage Lending Women of Inspiration Awards, we’re honored to shine a spotlight on these outstanding ...
Existing Home Sales Rebound In October – NMP
Nov 15, 2024 · October saw existing-home sales rise 1.6% over last month, marking the largest gain since January 2022 to reach a seasonally adjusted annual rate of 4.18 million, according to a new Redfin report.. Compared to last year, sales increased 1.7%, marking the first annual gain since November 2021. And, with total existing-home sales expected to finish 2024 slightly higher than last year’s 4.09 ...
MBA Challenges RESPA Section 8 In New White Paper
Oct 25, 2024 · The Real Estate Settlement Procedures Act (RESPA) that has safeguarded the rights of homebuyers over the past 50 years, is too stale for the tastes of MBA's President and CEO Bob Broeksmit. The Mortgage Bankers Association’s (MBA) new white paper, published Thursday, particularly takes issue with section 8 of RESPA, which prohibits kickbacks and unearned fee splitting.
Mr. Cooper To Buy Flagstar's Mortgage Servicing, TPO Platform
Jul 25, 2024 · Mr. Cooper has entered into a “definitive agreement” to buy Flagstar Bank’s residential mortgage servicing business for $1.4 billion, including their mortgage servicing rights (MSRs) and third-party origination (TPO) platform, the company announced in a press release Thursday.. Flagstar Bank is a subsidiary of New York Community Bankcorp, Inc. (NYCB), acquired by NYCB at the end of 2022.