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How former Live Well employees will help Open Mortgage grow
News 4 months ago
How former Live Well employees will help Open Mortgage grow

Open Mortgage CEO Scott Gordon has a software and engineering background that may serve his company well given the task that lies ahead for it -...

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Automated valuations a mixed bag for RMBS credit quality: Moody's
News 4 months ago
Automated valuations a mixed bag for RMBS credit quality: Moody's

Because automated valuation models have not been subjected to a stressed housing market, their increased use holds negatives and positives for...

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Mortgage brokers want relationships, not just tech, from wholesalers
News 4 months ago
Mortgage brokers want relationships, not just tech, from wholesalers

The big players in the mortgage industry have grown increasingly dependent on promoting "bells and whistles" to the masses, as opposed to providing...

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Large banks hemorrhaged money on mortgage originations in 2018
News 4 months ago
Large banks hemorrhaged money on mortgage originations in 2018

Large banks had huge losses from originating mortgages in 2018 as costs were three times higher than similar-sized independent lenders, according...

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Blackstone refinancing shopping-center loan debt via $230M CMBS
News 4 months ago
Blackstone refinancing shopping-center loan debt via $230M CMBS

A Blackstone Group real estate affiliate is tapping the commercial mortgage backed securities market to refinance existing debt on 12 retail...

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Industrial properties highlight $792M Goldman CMBS transaction
News 4 months ago
Industrial properties highlight $792M Goldman CMBS transaction

Acquisition financing for a portfolio of multi-state distribution centers represents the largest chunk of a newly launched Goldman Sachs conduit...

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Mortgage application volume down, but refi activity remained high: MBA
News 4 months ago
Mortgage application volume down, but refi activity remained high: MBA

Mortgage applications decreased by 3.4% this week, although refinance activity remained close to its 2019 high point, according to the Mortgage...

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Will FHFA’s fair-lending office fill enforcement void?
News 4 months ago
Will FHFA’s fair-lending office fill enforcement void?

WASHINGTON - When the Federal Housing Finance Agency opened a fair-lending monitoring office last August, there was little fanfare. But the launch...

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Ditech agrees to sell assets to two stalking horse bidders
News 4 months ago
Ditech agrees to sell assets to two stalking horse bidders

Ditech Holding Corp. has entered into purchase agreements with New Residential Investment Corp. and Mortgage Assets Management, in which each would...

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Pretium to buy non-QM lender Deephaven from Varde Partners
News 4 months ago
Pretium to buy non-QM lender Deephaven from Varde Partners

Alternative investment manager Pretium plans to buy Deephaven, a residential mortgage-backed securities issuer that operates outside the qualified...

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Rapid City looking at ways to boost housing options
News 4 months ago
Rapid City looking at ways to boost housing options

The Rapid City Council will consider whether to approve what officials believe is the largest residential subdivision that the city has seen in...

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New York rent rules pose risks for apartment lenders, Fitch says
News 4 months ago
New York rent rules pose risks for apartment lenders, Fitch says

New York's sweeping rewrite of rent stabilization laws could pose a credit risk to lenders that finance capital improvements to regulated apartment...

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Scrutiny rises as exposure to self-storage grows in conduit deals
News 4 months ago
Scrutiny rises as exposure to self-storage grows in conduit deals

Self-storage rental properties have always made up a small portion of the collateralized holdings within the commercial mortgage-backed securities...

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Syracuse mall bonds lose investment grade rating
News 4 months ago
Syracuse mall bonds lose investment grade rating

Nearly $300 million of municipal bonds sold 12 years ago to expand Syracuse, New York's Destiny USA shopping mall were dropped to junk territory on...

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Guild Mortgage's new loan allows Airbnb income to qualify for refis
News 5 months ago
Guild Mortgage's new loan allows Airbnb income to qualify for refis

Guild Mortgage is targeting Airbnb hosts with its new refinance program, allowing them to use short-term rental income to qualify for a new loan on...

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Three ways to draw private capital back into mortgages
News 5 months ago
Three ways to draw private capital back into mortgages

Since the financial crisis, taxpayers have been the primary source of capital supporting Fannie Mae and Freddie Mac and the broader mortgage market...

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First Merchants settles with Justice Department over mortgage practices
News 5 months ago
First Merchants settles with Justice Department over mortgage practices

First Merchants in Muncie, Ind., has reached a settlement with the Department of Justice over the company's lending practices. The $10.2 billion...

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DACA recipients ineligible for FHA loans, housing official says
News 5 months ago
DACA recipients ineligible for FHA loans, housing official says

WASHINGTON - The Department of Housing and Urban Development has issued an opinion that borrowers in the Deferred Action for Childhood Arrivals...

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New-home mortgage app volume rises as price growth slows, rates drop
News 5 months ago
New-home mortgage app volume rises as price growth slows, rates drop

Lower interest rates and slower price growth helped to boost mortgage applications to purchase newly constructed homes during May, the Mortgage...

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Growth of multifamily, CRE loan debt shows strong interest in sector
News 5 months ago
Growth of multifamily, CRE loan debt shows strong interest in sector

Commercial and multifamily mortgage debt outstanding grew 1.3% in in the first quarter of 2019, aided by low mortgage rates and the steady incline...

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FHFA asks Congress for power to charter Fannie, Freddie competitors
News 5 months ago
FHFA asks Congress for power to charter Fannie, Freddie competitors

WASHINGTON - The Federal Housing Finance Agency has officially asked Congress to provide it with certain powers granted to other banking regulators...

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Weekly refinance application activity rises to a three-year high
News 5 months ago
Weekly refinance application activity rises to a three-year high

With refinance activity rising to its highest level in three years, mortgage application volume increased 26.8% from one week earlier, according to...

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Prepays rise on the combination of lower rates, seasonality: KBW
News 5 months ago
Prepays rise on the combination of lower rates, seasonality: KBW

Prepayment speeds for loans included in agency mortgage-backed securities were up approximately 20% both monthly and annually during May as the...

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Healthy economy pushes CMBS loan delinquency rate down further
News 5 months ago
Healthy economy pushes CMBS loan delinquency rate down further

Economic strength bolstered the performance of loans included in commercial mortgage-backed securities with delinquencies improving for the seventh...

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Ellington launches new large-loan RMBS in $226M deal
News 5 months ago
Ellington launches new large-loan RMBS in $226M deal

Ellington Financial is sponsoring its first non-qualifying residential mortgage securitization in a year, through a newly launched $226.9 million...

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Independent mortgage banks get back in the black
News 5 months ago
Independent mortgage banks get back in the black

Independent mortgage banks and mortgage subsidiaries of chartered banks realized a net gain of $285 per loan in the first quarter, contrasting net...

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Average mortgage rates fall to near two-year low
News 5 months ago
Average mortgage rates fall to near two-year low

Mortgage rates fell to their lowest level since September 2017, with the 30-year down 17 basis points as worries over foreign trade policy...

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Millennials race to refi on lower mortgage rates, shrink closing times
News 5 months ago
Millennials race to refi on lower mortgage rates, shrink closing times

Millennial homeowners took advantage of April's drop in mortgage rates by quickly securing refinance loans, which closed faster than purchases for...

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Open Mortgage hires half of Live Well Financial's laid-off staff
News 5 months ago
Open Mortgage hires half of Live Well Financial's laid-off staff

Roughly 50 of the more than 100 staff members Live Well Financial let go after it stopped funding loans will join Open Mortgage, a multichannel...

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Low rates drive refi mortgage applications, but purchases still lag
News 5 months ago
Low rates drive refi mortgage applications, but purchases still lag

Refinance mortgage application activity surged as interest rates fell to their lowest level since the start of 2018, but potential homebuyers...

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