The revised QM rule and potential effect on the non-agency market
The revised Qualified Mortgage (QM) rule will likely not go into effect until October 1, 2022–more than a full year past the initial deadline of July 1, 2021 set by the Consumer Financial Protection Bureau (CFPB). The rule states that government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, would move to a price-based model instead […]
A Bigger, Better, Faster Jumbo Express
One of our most popular programs just got better. A growing number of Sellers lock their jumbo loans with MAXEX Jumbo Express because it’s faster and more efficient than traditional programs. Beginning on April 30, enjoy an enhanced program packed with updates including the ability to use the AUS to underwrite income, expanded eligibility including […]
Economic conflict steepening as Wall Street and unemployment soar
February’s breakneck pace on Wall Street slowed down just slightly this week with all three major averages hitting record levels. The Dow rose by 0.9% this week, hitting a record on Thursday. The Nasdaq and S&P 500 have gained 0.8% and 1.2% this week, respectively, both hitting record closes on Thursday. Wall Street is starting […]
Unemployment rate drops, market rebounds from volatility
The volatility of last week gave way to a fresh winning streak on Wall Street. Corporate earnings paired with positive economic data helped push stocks forward with the Dow closing up another 250 points on Thursday. That was the index’s fourth-straight day of gains. Weekly gains going into Friday, the Dow had increased 3% with […]
Market volatility overshadows interest rates, home prices
Equity futures are falling in early Friday trading as volatility returned to the market. Earnings continue to be strong, but this week’s headlines are all about the “short squeeze” on companies like GameStop and AMC. Meanwhile, interest rates have come off their recent highs and have moderated a bit to settle into a trading range. […]
Markets continue record-setting rally as Biden unveils housing, economic plans
Markets were on a roll this week, rallying to record highs on Inauguration Day and continuing to rise as the week progressed. The Dow catapulted to a record close of 31,188.38 on Wednesday, with the communications sector pushing the S&P 500 to a record close of 3,851.85. Both indices hit record highs again Thursday morning […]
