One in seven home-purchase contracts fell through in September, according to new Redfin analysis The chill in the United States housing market deepened in September, with 15% of home-purchase agreements nationwide falling through—leaving more than 53,000 sellers suddenly without buyers, according to new Redfin analysis. That’s a jump from 13.6% a year earlier and marks the highest cancellation rate in a year . Redfin’s data, which tracks pending sales across the 50 largest US

Housing and mortgage activity is still sluggish, but the phone is still ringing for these seasoned originators The US housing and mortgage markets aren’t exactly roaring right now, with elevated mortgage rates and an affordability crunch continuing to weigh down on many hopeful buyers. But while some mortgage brokers are feeling the pinch, others are keeping a steady stream of business coming in – the product of years spent honing their marketing strategies and building a rob

Look at the bigger picture instead of just focusing on where rates are, says Charlotte-based broker Housing market watchers have become...

Find other loan officers you trust with whom you can brainstorm and support each other. Loan origination may feel like a solo venture but...

A ban that could go into effect in January poses challenges for mortgage professionals who depend on TikTok to connect with clients and real estate agents TikTok and its China-based owner ByteDance on Monday took a step to stop a potential U.S. ban of the social media platform that is slated for January — a move that is being closely watched by mortgage professionals.   The companies filed a request with the U.S. Court of Appeals for the District of Columbia to decide on p

The era of hefty compensation packages and substantial signing bonuses is far behind us After cutting to the bone over the past three years, several large mortgage lenders are beginning to ramp up hiring. These companies are adding sales and operational staff, preparing for the expected drop in rates and subsequent increases in volumes. However, the industry is approaching this cycle with caution. Different from the boom of 2020 and 2021, lenders now face a more fragile fin

How to sell a personal brand on social media In an era where digital presence often equates to professional prowess, the mortgage industry is having a tough time fitting in. Most good salespeople want to be on social media and are cognizant of the power it possesses. However, finding the right message and medium to send it can be challenging in such an arduous profession lacking a remarkable product to market. After all, loan officers are selling a service, not just a loan pr

Much to be done to ensure women’s voices are heard, says executive The US mortgage industry may traditionally have been viewed as something of a “boys-only” club – but that perception is slowly changing as representation of women within the sector begins to climb. Zippia’s latest research on loan officer demographics in the US indicates that the disparity between male and female employment in the profession has slowly whittled down since 2010, with men making up 55.3% of loan

For most of human history, women have been financially dependent on men. This was not by choice — women simply didn’t have the right to...

There's hope for the numerically challenged Does one have to be good at math to be a successful mortgage broker? As with many things in life, it really depends on who you ask. During a recent interview with Mortgage Professional America , Teena Broumand (pictured left), of EMortgage, acknowledged she was not especially proficient at mathematics – a skill she believed was crucial in becoming a mortgage broker as she switched careers. After a long career in medical devices, she

When the going gets AI, the tough get going Rebecca Richardson, a mortgage loan originator with UMortgage in Charlotte, N.C., is a...

When the going gets AI, the tough get going Rebecca Richardson, of UMortgage – the self-described “Mortgage Mentor” – has already...

Given the mercurial and unpredictable market, it’s almost become fashionable for people to predict a housing crash. Those taking a...

Bridge loans are a powerful tool in her arsenal. With homeownership becoming an ever-elusive goal for many – what with high mortgage...

Anyone who closely follows the machinations of Loan Level Private Adjustments (LLPAs) sometimes implemented by the Federal Housing...

Your social media feed right now is probably abuzz with claims that the FHFA’s new loan level pricing adjustments (LLPAs) on conventional...

Self-described 'mortgage mentor' explains why mortgage rates fell only slightly. Mortgage rates fell on Monday in the aftermath of...

Why is it important to focus on how to attract first-time homebuyers? “Because you don’t know what you don’t know,” Richardson said,...

With interest rates rising in light of inflation, some would-be homeowners are eyeing 15-year mortgages in lieu of the traditional...

Through perseverance, Rebecca Richard survived the Great Recession. As featured in the MPA's article, she earned her moniker 'The...