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Inside Mortgage Trends
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Younger Borrowers Increase Share of Home Purchases

April 19, 2024
Monica Hogan
Mortgage financing was used on 80% of purchases of primary residences last year, a survey by the National Association of Realtors showed.
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Servicing From Failed Nonbank Issuer Shifts to Ginnie

April 19, 2024
Brandon Ivey
Plano, TX-based nonbank NFTN recently failed and its servicing transferred to Ginnie Mae.
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More Nonbank Lending Pushes Up Home Prices

April 19, 2024
Dennis Hollier
Home prices in high- and low-cost neighborhoods converge in counties that have a high concentration of nonbank originations.
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Grapevine: Diversified Nonbanks Faring Better; Job Cuts Continue

April 19, 2024
Brandon Ivey
Flexible nonbanks weathering the storm; layoffs continue at mortgage companies; tepid demand for mortgages on new homes; best execution analysis; Rocket preps AI offering; Equifax boosts mortgage-related revenue.
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Housing Supply, Affordability Issues Expected to Persist

April 5, 2024
Monica Hogan
Mark Jones, chair of the Mortgage Bankers Association, expects home sales to remain suppressed due to limited supply and elevated interest rates.
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Better Shifts to Commission Model for LO Compensation

April 5, 2024
Brandon Ivey
Better saw improvements in its pull-through rates in a pilot program in which the lender paid its LOs commissions. The lender found that its no-commission model didn’t work well for purchase mortgages.
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Lender, Real Estate Agency Mergers Show Mixed Results

April 5, 2024
James Dohnert
A new research paper finds that mergers between real estate agencies and lenders can help boost origination market share but can also cost borrowers more in the long run.
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FDIC Working to Boost Mortgage Lending by Banks

April 5, 2024
Brandon Ivey
The FDIC’s updated economic inclusion strategic plan includes a goal to increase mortgage lending by banks. The plan leans heavily on education and outreach, though CRA credit could also be an option.
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UWM Loses Bid to Move Employment Dispute to Arbitration

April 5, 2024
James Dohnert
A Michigan appeals court judge affirmed that UWM’s move to compel arbitration in a dispute with a former employee was seven months too late.
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Grapevine: Lenders Meeting Borrower Expectations; Rates Too High

April 5, 2024
Brandon Ivey
The mortgage process met or exceeded the expectations of many homebuyers; interest rates look to be too high for potential homebuyers; the defect rate on mortgages declined again; tech vendor raises $19 million; Altisource Asset Management exits mortgage market.
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