While mortgages with primary insurance coverage included in agency mortgage-backed securities declined in the first quarter overall, VA refi volume jumped. (Includes two data tables.)
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The share of higher-risk lending going to the GSEs expanded slightly in the first quarter, but high-credit score mortgages continued to dominate business at Fannie Mae and Freddie Mac. (Includes two data tables.)
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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 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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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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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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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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