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Rates Rise, Housing Malaise Could Spread

Rates Rise, Housing Malaise Could Spread

Thursday, 08 November 2018
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Mortgage rates rose across the board this week, according to the Primary Mortgage Market Survey from Freddie Mac. “The economy continued to show resilience as strong business activity and growth in employment drove the 30-year fixed mortgage rate to a seven year high of 4.94 percent, up 11 basis points from last week,” said Sam… Read more...
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J.D. Power: Happiness is Working with an Originator

J.D. Power: Happiness is Working with an Originator

Thursday, 08 November 2018
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Originators who fear digital mortgage platforms will replace them have less to worry about than they might have thought. That’s because just 3% of mortgage customers exclusively rely on digital self-service channels in the origination process, according to the J.D. Power 2018 U.S. Primary Mortgage Origination Satisfaction Study. Customer satisfaction scores reflect performance on six… Read more...
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Veteran Homelessness Declines

Veteran Homelessness Declines

Wednesday, 07 November 2018
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The number of homeless veterans has decreased, continuing a trend that started several years. The ranks of homeless veterans decreased 5.4 percent in 2018, and is down 50 percent since 2010, according to Annual Homeless Assessment Report from Housing and Urban Development. “We owe it to our veterans to make certain they have a place… Read more...
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Fannie's Home Sentiment Index Drops

Fannie's Home Sentiment Index Drops

Wednesday, 07 November 2018
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The Fannie Mae Home Purchase Sentiment Index decreased in October, falling 2.0 points to 85.7. The decline is attributed to decreases in five of the six components, including those measuring home buying and selling attitudes of consumers. The HPSI has trended downward, since hitting a survey high in the spring, declining in October to its… Read more...
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Lenders Loosen Credit, Targeting First Time Homebuyers

Lenders Loosen Credit, Targeting First Time Homebuyers

Tuesday, 06 November 2018
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Mortgage credit availability increased in October according to the Mortgage Credit Availability Index, a report from the Mortgage Bankers Association, analyzing data from Ellie Mae's AllRegs Market Clarity business information tool. The MCAI increased 2.5 percent to 186.7 in October. A decline in the MCAI indicates that lending standards are tightening, while increases in the… Read more...
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Loan Stream Launches Correspondent Channel

Loan Stream Launches Correspondent Channel

Tuesday, 06 November 2018
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Loan Stream Mortgage plans to offer non-prime loans through a correspondent lending channel it’s launching. The opportunity emerged because rates increased and the refi business was a distant memory. "When things get tough in the market, we look to capitalize when others are consolidating and use that time to grow in unique ways," says LSM's… Read more...
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Social Media Will Disappoint, Notes Survey

Social Media Will Disappoint, Notes Survey

Monday, 05 November 2018
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Lenders and mortgage brokers that have invested in social media for marketing and communications will generate disappointing results. That’s because borrowers are more likely to respond to traditional forms of marketing and communication than to a Twitter advertisement, a Facebook post or another form of social media, according to Borrower Preferences and Mortgage Originations, a… Read more...
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Black Knight Analytics: Rising Rates Sinking Refis

Black Knight Analytics: Rising Rates Sinking Refis

Monday, 05 November 2018
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Rising rates have all but eliminated the incentive to refinance a mortgage. That’s because of the continued effect of rising interest rates on refinance candidates, or homeowners with mortgages who would realize a minimum of 0.75 percent rate reduction from a refinance, according to Mortgage Report Monitor from the data and analytics division of Black… Read more...
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Employment Increases Continue on Torrid Pace

Employment Increases Continue on Torrid Pace

Friday, 02 November 2018
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The Department of Labor reported that employment hit a record high of 156,562,000 in October. There were 250,000 new jobs added, or 4.5 million new jobs since November 2016, with gains recorded across all industries. For the second straight month, the unemployment rate is 3.7%, the lowest rate since 1969. Six times this year, the… Read more...
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Buying a Mortgage Causes Credit Scores to Dip

Buying a Mortgage Causes Credit Scores to Dip

Friday, 02 November 2018
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In the aftermath of a mortgage closing, credit scores decline 15 points, though they do recover with time. The drop occurs because after a consumer takes out a mortgage, a large balance is added to his credit report, according to a survey from Lending Tree. Credit scoring models consider a consumer’s total balance of money… Read more...
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