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Bad News for Refis: 94.5% of Agency MBS Has Current Interest Rates of 5.0% or Less

December 16, 2022
John Bancroft
For many homeowners, their current mortgage rate is too valuable (low) to give up...
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Academy Mortgage Settles FCA Case Brought by Whistleblower

December 16, 2022
Monica Hogan
Thrower, as the whistleblower plaintiff who brought the allegations to light, will receive roughly $11.5 million...
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Banks Report Slump in 3Q22 Originations, Loan Sales

December 16, 2022
Namrata Bhatia
Banks and thrifts reported significant declines in loan origination volume and loan sales during the third quarter. Even their loan pipelines contracted drastically. (Includes two data charts.)
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Bank Mortgage Repurchases Decline in the Third Quarter

December 16, 2022
Namrata Bhatia
Wells Fargo and PNC Bank posted sharp declines in repurchases from the second quarter, though their year-to-date volumes were up from the first nine months of 2021. (Includes data chart.)
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Another Bank Gives Up the Ghost of Wholesale Lending

December 16, 2022
Paul Muolo
Will the last federally insured depository in wholesale lending please turn off the lights when it leaves? After buying MUFG Union, U.S. Bank is pulling the plug on Union Bank’s loan broker business.
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Mortgage Shopping Behavior Little Changed Since 2014

December 16, 2022
Namrata Bhatia
Even repeat, more experienced buyers reported getting only one mortgage quote, according to a new Fannie Mae survey.
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Ratings Services: 2023 Will be Tough, But Crash Not Likely

December 16, 2022
Sam Manas
Both Moody’s and Fitch expect a recession in 2023. But, unless conditions change markedly, they predict the impact on the housing market will be limited on a national basis.
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Investors Crowding Out Would-Be Homebuyers, Advocates Say

December 16, 2022
Monica Hogan
Institutional investors are increasingly scooping up affordable single-family homes, creating an unlevel playing field for low-income first-time homebuyers, affordable housing advocates said at a recent HUD event.
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Home Equity Lending to Grow in 2023, TransUnion Says

December 16, 2022
Monica Hogan
Tappable home equity should remain sizable in 2023, signaling opportunity for an uptick in home-equity loans.
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Industry Bats Around Permanent Loss-Mitigation Ideas

December 15, 2022
Monica Hogan
Streamlined refis worked well as a loss-mitigation tool during the pandemic, but aren’t a solution in a rising interest-rate environment.
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