Home Buyers Are Abandoning Purchase Deals In Record Numbers Thanks To Economic Uncertainty Americans home buyers are canceling deals to buy homes at record numbers. Redfin is reporting that 15% of all existing homes under contract were canceled. That is the highest share since early 2020. That beats 2021 when only 11% 0f purchase transactions […]
PennyMac Tries To Stop Mass Exodus Of Customers By Offering 90 Day Rate Locks PennyMac has launched a product that will freeze mortgage rates for as long as 90 days. The California based lender is hoping to attract attract and retain customers in a volatile economy. PennyMac has dubbed the program “Lock & Shop.” The […]
Struggling LoanDepot Will Cut Nearly 5,000 Jobs In 2022 As Part Of A Restructuring Plan Struggling LoanDepot is the latest lender to announce layoffs. The company is preparing to lay off the largest number of employees in the mortgage industry this year. The company is eliminating 4,800 jobs over the course of 2022. LoanDepot is […]
Fighting PHH Mortgage Foreclosures Has Become Tougher. Do You Have A Winning PHH Mortgage Foreclosure Defense Team? Call 888.737.6344 The economy is uncertain. Inflation is out of control. Interest rates are rising. PHH Mortgage is stepping up foreclosures. Worst of all, foreclosures are getting tougher to fight. So, do you have the right PHH Mortgage […]
Lenders Have Until September 5th To Comply With New FHA Guidelines Ignoring COVID-Era Employment Lapses New FHA guidelines loosen the requirements to qualify for a loan if they lost work during the pandemic. Beginning September 5th, lenders are to ignore job gaps during the Covid-19 pandemic. The Federal Housing Administration (FHA) announced new flexibility for […]
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