“There have been just two months in the past decade with fewer home sales [than in May 2024]: October 2023, when mortgage rates jumped to a 23-year high, and May 2020, when the onset of the pandemic brought the housing market to a halt and home sales to a record low,” Redfin said.

Banks and thrifts held $2.52 trillion of first liens in portfolio as of the end of March.

Redfin’s homebuyer demand index declined by 2% on a monthly basis in early June.

It’s the first non-agency MBS with a significant amount of electronic promissory notes, according to Moody’s Investors Service.

Newfi said it chose Dunmor as a partner because of its technological expertise in the RTL space.

VA stressed that borrowers should still negotiate their buyer-broker fee and that homebuyers can still ask sellers to pay the fees at closing.

SPS, which has been servicing residential loans since 1989, handles a portfolio of about $180 billion, largely of loans in non-agency mortgage-backed securities.

Morgan Stanley and Chase are marketing prime non-agency MBS with loans eligible for sale to the GSEs.

The CFPB reiterated that Regulation Z prohibits mortgages for principal dwellings from including “terms requiring arbitration or any other nonjudicial procedure as the method for resolving any controversy or settling claims arising out of the transaction.”

Housing affordability ranked as more important for voters in the 2024 presidential election than abortion rights or student debt, according to a survey commissioned by Redfin.