Mid America Mortgage Blog

Mid America Mortgage Assists Lenders, Borrowers Affected By Recent Disasters

ADDISON, Texas, Oct. 19, 2017 (SEND2PRESS NEWSWIRE) — Mid America Mortgage, Inc. (Mid America) announced measures it has taken to provide assistance to both lenders and borrowers that were impacted by recent federally declared disasters. In addition to $20,000 in donations from employees and the corporation toward relief efforts, Mid America will also purchase loans on properties located in areas impacted by the recent storms or fires. This includes both government and conventional loans underwritten to agency guidelines. For government loans, Mid America will purchase insured loans, as well as loans pending endorsement, for properties that have been damaged. In

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Fewer New Homes Sold in August

In periods of low real estate inventory, the new homes market can strengthen as demand for housing outpaces supply. However, in a curious turn of events, the U.S. housing market is currently seeing a drop in new home sales, while levels of housing inventory continue to recede. Newly built single-family homes are often looked at as a viable alternative to existing homes during times of tight market supply. After all, if there aren’t enough homes for sale and buyers are capable and motivated, developers can use these conditions to their advantage and begin building wherever possible. So why then are

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Refinancing picks up as summer comes to a close

mortgage application and keys

As the last leg of summer passes and the fall season begins, a wave of refinancing activity came crashing into the mortgage market, driving mortgage application volume higher during the final weeks of August. According to a press release from Mortgage News Daily, “A resurgence in refinancing drove the volume of mortgage applications higher during the week ended September 1. The Mortgage Bankers Association said its Market Composite Index, a measure of application volume, increased 3.3 percent on a seasonally adjusted basis when compared to the week ended August 25. On an unadjusted basis, the index increased by 2.0 percent.” 

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15301 Spectrum Drive, Suite 405
Addison, TX 75001
Phone: 214-261-3300
Toll Free: 866-544-7013
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550 Warrenville Rd
Lisle, IL 60532
Phone: 630-796-6092
Toll Free: 855-528-4572

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