Tag Archives: Borrowers

The CFPB announced the approval of the Independent Community Bankers of America's (ICBA) proposed template to improve mortgage disclosures to "provide consumers greater clarity, streamline the process through improved disclosure requirements, and expand access to more affordable homes in rural areas with limited housing supply," according to Rebeca Romero Rainey, President and CEO of ICBA.

According to the November 2023 ICE Mortgage Monitor Report, purchase-mortgage applications declined nearly 50% below pre-pandemic levels, with annual home price growth experiencing the weakest monthly gain since January. Read on to learn how sky-high mortgage rates continue to make life difficult for would-be homebuyers.

A new Fannie Mae report examines how the "lock-in effect" is affecting the housing market. Click through to read why surveyed homeowners are staying put, and how that choice is sending ripple effects throughout the market.

As limited supply and affordability barriers continue to hinder potential homebuyers, Bankrate surveyed how U.S. adults feel about the ever-changing housing market, revealing that nearly half of all Americans believe it's a bad time to buy, while many others believe they'll never be able to afford their dream home. Here’s what else the survey revealed.

Nearly one in six prospective homebuyers across different races and ethnicities reported facing some form of discrimination during the homebuying process, according to the National Association of Realtors. Others cited their primary reasons for stalling their home purchase as waiting for mortgage rates and home prices to decline, alongside a lack of available homes within their budget.

ATTOM's latest Residential Property Mortgage Origination Report showed purchase lending led the way in Q2, spiking nearly 30%, while overall refinance and home equity activity also rose after eight straight quarterly declines.

While nationwide home prices and average costs of living continue to rise, a new case study from Black Knight highlights servicer success using self-service loss mitigation technology to connect with and engage borrowers in times of financial distress.

The Supplemental Consumer Information Form is used during the mortgage application process, allowing borrowers to voluntarily identify language preferences and provide information on housing counseling and homeownership education they may have received.

Nationwide, the average payment on a new mortgage is now $2,317 a month, according to a report from LendingTree, with monthly mortgage payments the most expensive in Hawaii, California, and Massachusetts.

According to a new CFPB survey, more families are having difficulty paying their bills in 2022 than in 2021, while Black, Hispanic, and low-income households are far more likely to have difficulty paying bills and debts.