Demand for adjustable-rate mortgages surges, as interest rates jump

Demand for adjustable-rate mortgages surges, as interest rates jump

Mortgage applications to purchase a home rose 8% last week compared with the previous week, bolstered in part by demand for adjustable-rate mortgages, according to the Mortgage Bankers Association’s seasonally adjusted index. Applications were, however, 10% lower than they were in the same week one year ago. A big jump in mortgage rates may have

Crypto-Backed Mortgages, Loans Gaining Traction

Crypto-Backed Mortgages, Loans Gaining Traction

There’s been talk about people buying real estate with cryptocurrency for some time, but a new report from banking giant Citi finds that crypto-backed mortgages have been gaining ground for reasons that suggest loans collateralized by digital assets will have a growing place in the broader lending market. Noting that it is “rare to find

Improvement in performance slows for rent, mortgages, student loans

Improvement in performance slows for rent, mortgages, student loans

Reductions in the number of struggling tenants and people with school-related loan difficulties faltered a little in June compared to March, suggesting that the broader trend toward improvement in housing and educational debt performance is continuing, but has slowed. Missing payments for mortgage borrowers had fallen to 2.19 million in June from 2.33 million in

Finastra harmonizes origination for deposits, loans and mortgages to provide a seamless digital experience

Finastra harmonizes origination for deposits, loans and mortgages to provide a seamless digital experience

LAKE MARY, Fla., May 12, 2021 /PRNewswire/ — Finastra today announced the launch of Fusion Originate, a single platform encompassing consumer and business deposits, loans and mortgages. The harmonized user experience for digital online channels and back office benefits from the expertise of the Finastra UX team and design thinking to deliver a consistent and simplified