UWM has debuted a new cash-out refi product without mortgage insurance. Is the juice worth the squeeze? United Wholesale Mortgage (UWM) has the mortgage industry abuzz over its latest product, a higher-risk, cash-out refinance at a time of economic uncertainty. On Wednesday, UWM unveiled a new cash-out refinance product—dubbed Cash-Out 90—that allows borrowers to refinance…
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What had previously been a surprisingly mild 2024 hurricane season closed with two devastating storms that hammered Florida and North Carolina. While assessing the full scale of the damage could still take months, the short-term effects on the two state’s housing markets were immediately visible — the markets came to a complete halt. In the…
Mortgage data and workflow solutions provider FirstClose is launching a new feature for its automated home equity point-of-sale system. The Austin-based company has added the Digital Loan Product Wizard to the system, according to a recent announcement. The new feature will help customers to quickly consolidate high-interest mortgage debt. Borrowers can determine down payment amounts,…
Alan Ratner, Zelman & Associates managing director, joins CNBC’s ‘The Exchange’ to discuss outlooks on the housing market, why mortgage rates are creating an affordability pinch, and more.