Posted To: Pipeline Press

Change is certainly constant. “And just like that, every reporter has gone from infectious disease expert to civil rights attorney.” In our biz, if you didn’t make money in the first quarter, you should have made some changes. The MBA tells us that independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $1,600 on each loan they originated in the first quarter, up from $1,182 per loan in the fourth quarter. Impac Mortgage? Heading back into the game . Changes continue in the secondary markets. Mortgage rates and programs are determined by investor demand, and pay-ups for specified pools (where investors pay up for certain loan amounts, geographic concentration, or credit scores) are coming back into vogue, as is talk of low credit score…(read more)

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Source: Mortgage News Daily