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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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Manhattan condo owners are cutting deals as their tax breaks end
News 5 months ago
Manhattan condo owners are cutting deals as their tax breaks end

Manhattan condo owners who've enjoyed property-tax reductions are heading for the exits of their posh buildings as their breaks are set to expire....

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'Devil is in the details' for lenders transitioning from Libor: MBA
News 5 months ago
'Devil is in the details' for lenders transitioning from Libor: MBA

Commercial and multifamily mortgage lenders need to figure out their plan for replacing the London interbank offered rate index potentially...

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Velocity's new investor mortgage seeks to stave off payment shock
News 5 months ago
Velocity's new investor mortgage seeks to stave off payment shock

Velocity Mortgage Capital's new mortgage-broker loan for income-producing residential and small-balance commercial properties aims to offer...

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Mortgage fraud risk on applications dips for first time since July
News 5 months ago
Mortgage fraud risk on applications dips for first time since July

Mortgage application fraud risk declined for the first time since last summer because the home sales market became less competitive with an easing...

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Expect more banks to exit national mortgage lending
News 5 months ago
Expect more banks to exit national mortgage lending

It's no secret the mortgage business has been tough lately, but bankers who have downsized in home lending say it's no fad - they (and others)...

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Mortgage investors' refinance concerns rise with rate rally
News 5 months ago
Mortgage investors' refinance concerns rise with rate rally

Mortgage prepayment speeds may rise with the strong U. S. rate rally, and that may be cause for alarm for mortgage investors. Aggregate prepayment...

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Overleverage to reduce CMBS loan payoffs in 2019: Morningstar
News 5 months ago
Overleverage to reduce CMBS loan payoffs in 2019: Morningstar

The large number of overleveraged commercial mortgage-backed securities loans coming due in 2019 is likely to cause the payoff rate to drop an...

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Economic uncertainty dragging down mortgage application volume: MBA
News 5 months ago
Economic uncertainty dragging down mortgage application volume: MBA

Consumer worries over the direction of the U. S. economy affected mortgage application activity this past week even as interest rates remained flat...

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Activist investor backs hostile offer for HomeStreet multifamily unit
News 6 months ago
Activist investor backs hostile offer for HomeStreet multifamily unit

Activist investor Blue Lion, which has been waging a campaign for changes at HomeStreet Bank, is pressing the Seattle-based company to consider...

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Freedom's mortgage servicing portfolio grows 44% in RoundPoint deal
News 6 months ago
Freedom's mortgage servicing portfolio grows 44% in RoundPoint deal

Freedom Mortgage's acquisition of RoundPoint Mortgage Servicing gives it a major subservicer and will increase the Mount Laurel N. J.-based company...

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High end of purchase market benefiting most from lower mortgage rates
News 6 months ago
High end of purchase market benefiting most from lower mortgage rates

The decline in average mortgage rates since the start of the year is driving higher purchase demand, especially at the higher end of the market,...

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Mortgage insurers can help banks reduce CECL burden: Genworth
News 6 months ago
Mortgage insurers can help banks reduce CECL burden: Genworth

Private mortgage insurers can help to ease banks' compliance burden when it comes to the Current Expected Credit Loss accounting standard, an...

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Lowest mortgage rates in over a year drives rise in refi applications
News 6 months ago
Lowest mortgage rates in over a year drives rise in refi applications

With mortgage rates falling to their lowest level in over a year, refinance volume drove this week's increase in application activity, according to...

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