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Zillow has been quietly originating mortgages for a few months, following the acquisition of Mortgage Lenders of America last year. At the time of the deal, Zillow didn’t say how much it spent on Mortgage Lenders of America. But the 10-K filing reveals the price: $66.7 million in cash. Mortgage Lenders of America originated approximately 4,000 home loans in 2018 across 40 states, or roughly 333 per month. 
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The market share of adjustable-rate mortgages is slowly rising and will likely gain more popularity as fixed-rate mortgages increase over the coming year, says Archana Pradhan, CoreLogic’s senior professional economist, on the company’s Insights blog. The current market share of ARMs has fluctuated between 5 and 13 percent.
Al Cannistra's insight:
IMO used correctly, ARMS make sense - your thoughts? . .
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A new report from Aparment List reveals how many San Antonians are cost-burdened. However, as rent increased between 2005-2015, so did income.
Al Cannistra's insight:
tired of paying somebody else's mortgage?
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It can be tough to get a mortgage these days, especially for those with less than stellar credit scores and people without a sizable down payment. Read more: Good for Buyers: Mortgage Rates Barely Budge But just how difficult it is may greatly depend on where you live, according to a new report released by the Urban Institute.
Al Cannistra's insight:
San Antonio is on this important list.... SOoooo - ready to get a mortgage (and the home that comes with it?) - call me, we will work on it together!
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All hail the Rocket Mortgage app: Applying for a home loan just became as simple as a few clicks and taps on your smartphone.
Al Cannistra's insight:
Pizza anyone?
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Fannie Mae said it would allow lenders to use employment and income information from a database maintained by Equifax rather than traditional forms like pay stubs to apply for a home mortgage.
Al Cannistra's insight:
we are getting there - eventually an all E application and verification...
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Watch this video and learn the pros and cons of both fixed-rate and adjustable-rate loans.
Al Cannistra's insight:
thinking home mortgage? check this out... . .
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Retirees who have been out of the mortgage-application process for a while might be surprised at all the extra hoops they have to jump through.
Al Cannistra's insight:
paying off your mortgage may not be the best idea even if you have the resources... . .
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The Federal Housing Finance Agency raised the conforming loan limit from $417,000 to $424,100, the first increase since 2006.
Al Cannistra's insight:
this is a good direction - higher might be better....
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A couple with three children came to Paul Sigurdson in 2014, looking to buy a home that would support their growing family. The hitch was that they’d gone through a foreclosure three years earlier and couldn’t qualify for a mortgage.
Al Cannistra's insight:
a potential trap....
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If your buyers go crazy on shopping sprees for the holidays, it could send a red flag to mortgage lenders that they're a risky bet. Give your clients these three warnings.
Al Cannistra's insight:
don't let it happen to you.....
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New rules help borrowers compare home loans and see the total cost before closing
Al Cannistra's insight:
why is it we think everything needs to be improved? everytime we improve something it gets worse.... read some of the comments following the article - mortgages that were a page - yeap - a page - that is it.... as lemmings follow, visible people say we need to do more to justify their power position - we will do much better if we KISS - and live
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ZILLOW FOR MORTGAGES? In Texas, you don't need to wait for that. Check out Turbo Mortgage. And, Agents - if you are looking to participate, be sure to check out the invite under AGENTS on my website: https://sanantonio.homes/ (or call me) - sorry, right now - Texas only!
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