The Mortgage Bankers Association cut their forecast for new loan origination volumes in the first quarter of 2017 by 3.5%. They are citing higher interest rates as the key cog in the forecast cut.

According to the National Association of Realtors, first-time home buyers are getting off the sidelines and purchasing homes. The share of home purchases by first-time buyers rose to 35% this year from 32% last year.

This is a great sign that the job market is finally getting better for those who have less experience in the workforce. The low mortgage interest rates are also helping with affordability.

 

 

 

 

Day 1 Certainty is a new offering Fannie Mae is giving their lender partners.

This should mean greater speed and simplicity when lenders deliver loans to Fannie Mae. This will increase efficiency for lenders when verifying income, assets, and employment.

There will also be additional improvements for customers eligible for a property inspection waiver (PIW).

This efficiency should mean the an easier and more hassle-free loan process.