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.
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.
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 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.
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 ...
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 ...
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 ...
CSBS Urges MLOs To Update License Registrations – NMP
Oct 23, 2024 · Mortgage loan originators and other licensees are being urged by regulators to update their license registration by next month. Recent changes were made to the Nationwide Multistate Licensing System ahead of the organization’s annual renewal period, which runs from Nov. 1 through Dec. 31.. The Conference of State Bank Supervisors (CSBS), the national organization that operates the NMLS, is ...
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 ...
Rocket Pro TPO Takes Off 24 BPS For Brokers – NMP
Nov 4, 2024 · In the spirit of this upcoming Thanksgiving, Rocket Pro TPO, the wholesale lending arm of Rocket Companies, is providing its broker partners a 24 basis-point credit for all eligible loans as part of its new 24 Takeoff promotion, available now through Nov. 17. Rocket Pro TPO Executive Vice President Mike Fawaz unveiled the 24 Takeoff promotion in a YouTube video posted today, stating that the ...