The worst since the financial crisis?

Mortgage applications increased 4.2% for the ending June 17, compared with the previous week

Good afternoon! Was this newsletter forwarded to you? Sign up here. Hello, LOs!   Publicly traded mortgage companies lost a collective $6.14 billion in market capitalization in a one-week period, according to a HousingWire analysis of 11 stocks.  Several industry observers said it is the worst downturn for the mortgage market since 2008.    Kevin Heal, senior analyst and fixed income strategist at Argus Research, said to HousingWire that for lenders, "it's a tough time in the market right now because you don't know what rates to offer borrowers."    Some borrowers are not scared, however.     Mortgage applications increased 4.2% for the ending June 17, compared with the previous week, propelled by borrowers' demand for purchase loans. Purchase apps increased for the second straight week, despite rates at the highest since November 2008.    LOs – in what some consider the worst downturn since the financial crisis, what are you seeing with your clients as far as which products they're choosing and how they're navigating rising rates?  Please share your thoughts with me at flavia@hwmedia.com.   Flávia Furlan Nunes Mortgage reporter, HousingWire Purchase mortgage apps defy surging rates Mortgage Despite mortgage rates reaching the highest level in 14 years, mortgage applications increased 4.2% from the prior week, according to the Mortgage Bankers Association.  Strengthen relationships and increase purchase business with Percy

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How originators can capitalize on reverse mortgage business in light of the changing housing market

Presented by FAR

With a housing market in transition, originators are looking to seize profitable opportunities that benefit both borrowers and their own bottom lines. HousingWire recently spoke to Jonathan Scarpati, Senior Vice President of Wholesale Lending at Finance of America Reverse, about tapping into the reverse mortgage market in light of the changing market.

Mortgage stocks are getting battered – what happens next?

Mortgage

Publicly traded mortgage lenders saw over $6 billion in value disappear in just over a week. They could be facing the worst downturn since 2008. But at least they have options.

For too long, a reverse mortgage has been seen as a last resort At Reverse Mortgage Funding LLC, we know that when used thoughtfully, it can be a sophisticated part of a financial plan. That's why we're working to change the way people think about reverse mortgages. Learn More!

Sponsored by Reverse Mortgage Funding

CFPB to review QM rule

Mortgage, CFPB/ Regulatory

The Consumer Financial Protection Bureau (CFPB) said Friday it would take a "fresh look" at its Qualified Mortgage (QM) rule.

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