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Few banks benefit from CFPB's new high-cost mortgage escrow proposal
News 2 days ago
Few banks benefit from CFPB's new high-cost mortgage escrow proposal

Few financial institutions may benefit from the Consumer Financial Protection Bureau's new proposed rule. It increases exemptions for high cost...

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Nonbank mortgage jobs increase as demand persists
News 2 days ago
Nonbank mortgage jobs increase as demand persists

Low mortgage rates drove payroll expansion for nondepository lenders and brokers, while also contributing to gains in overall employment, the...

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Mortgage rates at new low, likely to fall further
News 2 days ago
Mortgage rates at new low, likely to fall further

Mortgage rates reached their lowest level this week since Freddie Mac began its Primary Mortgage Market Survey in 1971, but they might not have yet...

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Mortgage applications drop for second straight week as demand wanes
News 3 days ago
Mortgage applications drop for second straight week as demand wanes

Mortgage application volume was down for the second consecutive week, this time by 1.8%, as a new record low for rates was not enough to overcome...

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GSEs extend coronavirus forbearance for multifamily mortgages, renters
News 4 days ago
GSEs extend coronavirus forbearance for multifamily mortgages, renters

Fannie Mae and Freddie Mac's regulator is allowing multifamily borrowers to extend coronavirus-related forbearance agreements on loans another...

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In Silicon Valley, developers bet big on the return to offices
News 5 days ago
In Silicon Valley, developers bet big on the return to offices

From New York to San Francisco to London and beyond, the cry has gone up in crowded cities: get me out of here! But as the coronavirus reshapes...

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Forbearances rise after three weeks of decline
News 1 week ago
Forbearances rise after three weeks of decline

Total mortgages in forbearance rose after falling for three straight weeks, according to Black Knight. As of June 23, over 4.68 million mortgages...

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MBA supports expanding Federal Home Loan Bank membership
News 1 week ago
MBA supports expanding Federal Home Loan Bank membership

The Federal Housing Finance Agency released a request for input back in February, asking for industry opinions for Federal Home Loan Bank...

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Mortgage rates stay at record lows, but many can't qualify
News 1 week ago
Mortgage rates stay at record lows, but many can't qualify

Mortgage rates were flat this week and remain near all-time lows, according to Freddie Mac. But significant numbers of borrowers remain unable to...

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Smaller banks have more risk from coronavirus-affected CRE mortgages
News 1 week ago
Smaller banks have more risk from coronavirus-affected CRE mortgages

For banks between $10 billion and $100 billion, the average exposure is 165% of capital. For the smallest banks, whose asset size is under $10...

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Mortgage application volume down although rates stayed at record low
News 1 week ago
Mortgage application volume down although rates stayed at record low

Even as interest rates remained at record-low levels, mortgage application activity for both purchases and refinancings declined compared to one...

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CFPB issues proposals to revise QM rule, extend GSE patch
News 1 week ago
CFPB issues proposals to revise QM rule, extend GSE patch

The Consumer Financial Protection Bureau on Monday proposed two rulemakings concerning competitive advantages that Fannie Mae and Freddie Mac enjoy...

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Mortgage forbearances drop for first time since coronavirus hit: MBA
News 1 week ago
Mortgage forbearances drop for first time since coronavirus hit: MBA

After weeks of watching the curve gradually flatten, the coronavirus-related mortgage forbearance growth rate decreased 2 basis points between June...

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Mortgage delinquencies doubled since coronavirus shutdown started
News 1 week ago
Mortgage delinquencies doubled since coronavirus shutdown started

The number of mortgage borrowers who have missed a loan payment has more than doubled in two months, according to Black Knight. There were 4.3...

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St. Louis extends federal tax credits directly to low-income developer
News 1 week ago
St. Louis extends federal tax credits directly to low-income developer

St. Louis officials approved using $5 million in federal tax credits to extend a loan to national low-income housing firm McCormack Baron Salazar,...

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Home sales soared in Hilton Head after taking a coronavirus plunge
News 1 week ago
Home sales soared in Hilton Head after taking a coronavirus plunge

A wave of new homebuyers from the northeast and other parts of the country flooded the Hilton Head, S. C., real estate market over the past few...

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Chapter 11 sale ahead for more Better Housing Foundation bonds
News 2 weeks ago
Chapter 11 sale ahead for more Better Housing Foundation bonds

A second Better Housing Foundation bond portfolio in Chicago is seeking a bankruptcy-led sale that offers holders of $51.8 million of defaulted...

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While total forbearances decline, non-agency plans rise
News 2 weeks ago
While total forbearances decline, non-agency plans rise

While the total number of mortgages in forbearance fell for the third consecutive week, there was once again an increase in non-agency mortgages...

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Wisconsin credit union sells REO property, demolition expected
News 2 weeks ago
Wisconsin credit union sells REO property, demolition expected

Blackhawk Community Credit Union sold the decrepit former Town and Country restaurant in downtown Janesville, Wis., to a new group of owners who...

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Starwood misses payments on $549 Million mall debt
News 2 weeks ago
Starwood misses payments on $549 Million mall debt

Starwood Capital Group missed two monthly payments on securitized debt tied to five shopping malls anchored by bankrupt department stores including...

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Slimmed-down NewRez turns to MSR securitization
News 2 weeks ago
Slimmed-down NewRez turns to MSR securitization

New Residential Investment Corp., fresh off a substantial first-quarter reduction of its asset holdings, is now planning to securitize the...

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Purchase mortgage applications rise to highest level in 11 years
News 2 weeks ago
Purchase mortgage applications rise to highest level in 11 years

Purchase mortgage application volume was at its most in over a decade as consumer confidence continued to improve in the aftermath of the...

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Mortgage forbearance growth rate comes to near halt: MBA
News 2 weeks ago
Mortgage forbearance growth rate comes to near halt: MBA

Growth in the coronavirus-related mortgage forbearance rate was nearly flat, increasing 2 basis points between June 1 and June 7, according to the...

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Coronavirus hasn't halted home sales, but could hurt mortgage payments
News 2 weeks ago
Coronavirus hasn't halted home sales, but could hurt mortgage payments

Nearly 80% of those that purchased a home in 2020 are concerned about making their mortgage payment in the coming months due to the coronavirus,...

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May was busy month for Palm Beach real estate
News 2 weeks ago
May was busy month for Palm Beach real estate

Anyone who has been watching real estate in Palm Beach, Fla., over the past several weeks has seen the number of new contracts - and closed sales -...

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CRE CLO market showing signs of recovery amid COVID-19 impact
News 3 weeks ago
CRE CLO market showing signs of recovery amid COVID-19 impact

Owners of transitional commercial real estate properties continue to find takers of short-term bond offerings through CRE collateralized loan...

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Coronavirus highlights need for multifamily, affordable housing
News 3 weeks ago
Coronavirus highlights need for multifamily, affordable housing

The need for more affordable housing long plagued the real estate industry. Then came the coronavirus. In its wake, the pandemic brought heightened...

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Most lenders believe profits will rise in second quarter: Fannie Mae
News 3 weeks ago
Most lenders believe profits will rise in second quarter: Fannie Mae

Even with their businesses being affected by the coronavirus, more than half of mortgage lenders surveyed said their profits will increase this...

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Trade orgs say FHLBank targets may increase small member participation
News 3 weeks ago
Trade orgs say FHLBank targets may increase small member participation

The changes to the Federal Home Loan Banks affordable housing goals should encourage smaller financial institutions to use their secondary mortgage...

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Purchase, refi apps both rise in same week for first time since March
News 3 weeks ago
Purchase, refi apps both rise in same week for first time since March

Mortgage applications increased 9.3% from one week earlier, fueled by low mortgage rates and the release of pent-up demand, according to the...

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