Author: badmortgage
March 2026 continues to be an unpleasant month for mortgage rates–a fact almost exclusively due to the Iran war. Even if the war were to end today, there’s been sufficient disruption to infrastructure and a big enough initial spike in energy prices to create what economists refer to as “second round effects.” In simpler terms, this means that inflation expectations and interest rates will not immediately return to February’s levels simply because the war is over. That’s a premature conversation today when headlines regarding U.S. troop deployment caused rates to jump at 1pm ET. Many mortgage lenders repriced to higher…
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Juxtaposition of Escalation and De-escalation Keeping Bonds Volatile Tue, Mar 24 2026, 4:03 PM Juxtaposition of Escalation and De-escalation Keeping Bonds Volatile Tuesday was notable for financial markets’ attempts to trade the Iran war due to the conspicuous juxtaposition of newswires that spoke to opposing developments. Around 1pm ET, troop deployment news sent yields to the highs of the day. A little over an hour later, the newswires gave the impression that the war was almost over–so much so that bonds were willing to retrace most of the 1pm losses. Nonetheless, yields were already elevated by 1pm, which…
Key Takeaways Small business loans protect your personal assets but typically require an established business history and strong financials to qualify. Home equity loans and HELOCs usually have lower rates and faster approval, but your home is at risk if you can’t repay. The right choice depends on your business’s stage, your available home equity, and the level of personal risk you’re comfortable taking on. Explore your lending options. Start here Using home equity to fund a business often results in lower rates and faster approval compared to traditional business loans. However, your home serves as collateral, so a failed…
Shortly after announcing a merger agreement with retail lender CrossCountry Mortgage, Summit Funding said it will permanently eliminate 163 positions across the company. Processing ContentThe Sacramento, California-based home lender informed state officials in a mandatory Worker Adjustment and Retraining Notification filing dated March 19, just one day after the merger was officially announced. The final date of employment for affected staff will be May 17. The terminations stretch across the organization, including management and operations staff on underwriting, post-closing, servicing and marketing teams. Senior executives among the list of layoffs include both chief information and chief operating officers and Summit’s general counsel. Despite…
There have been various comments from U.S. officials about ending the war for several weeks (i.e. on March 9th, Trump said the war could be over soon). Yesterday’s developments (Trump comments on the war being “won” and the 30-day ceasefire news from Israel) are being taken more seriously by markets or at least seriously enough to get trading levels back to where they were after Monday morning’s ceasefire/talks news. Oddly enough, oil prices and bond yields are holding onto the gains despite Iran refuting negotiation claims and launching another wave of air strikes.
Key Takeaways Your lender cannot freeze, reduce, or cancel your HECM line of credit just because the housing market drops or your home loses value. FHA insurance protects your access to funds as long as you meet your loan obligations. You can lose access to your HECM only if you default, such as by failing to pay property taxes or moving out of your home. See if you qualify for a reverse mortgage. Start here If you remember hearing about people losing access to their HELOCs during the 2008 housing crisis, you may wonder if the same thing could happen…
Non-QM, Data Source, MI Checklist, Pipeline Valuation Class Tools; Farewell PHH Name Products, Services, and Software for Brokers and Lenders A restaurant can seem like the picture of efficiency…until the kitchen falls behind. Guests are seated, orders are taken, and everything appears to move seamlessly. But when what happens up front is not fully connected to what is happening behind the scenes, delays build quickly, and the experience starts to suffer. Home equity lending is no different. Demand may be strong, but when workflows, systems and fulfillment processes are not aligned, speed slips and opportunities stall. On March 31…
BOJ likely to warn of inflation whiplash from Iran war, ex-central bank executive says
The past 24 hours have seen multiple news stories with seemingly contradictory updates regarding the state of the Iran war. There’s a ceasefire. There’s no ceasefire. There’s negotiation. There’s no negotiation, etc. As far as the rate market is concerned, the most important development has been the general appearance of a shift toward diplomacy and resolution on the U.S. side. This has been enough for oil prices to preserve a majority of the drop seen at the start of the week. Bond yields (which correlate with mortgage rates) have been doing even better than oil prices today. The net effect…