LoanDepot increases market share, but profits sink in Q2

03-08-2021

The purchase market reigned supreme in the second quarter of 2021, and multichannel lender loanDepot reported a 31% increase in purchase mortgage transactions from the prior quarter. But the lender’s gain-on-sale margin and net income fell significantly during the second quarter, a trend that is keeping executives and LOs up...

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Home prices are still rising, but relief for buyers is coming

03-08-2021

Home prices continue to increase as national inventory levels remain low heading into August. But relief for buyers could be coming in the next 12 months. Home prices increased 2.3% from May to June, and 17.2% year-over-year, according to the latest CoreLogic report on home prices. However, CoreLogic officials said price...

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Fannie Mae lifted by low rates, purchase mortgages in Q2

03-08-2021

Fannie Mae continues to reap the rewards of low mortgage rates as it posted a net income of $7.2 billion for the second quarter of 2021, up from $5 billion in the first quarter. Refinances continued to account for the majority of the government-sponsored entity’s acquisitions. In the second quarter, refinances...

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Mortgage lenders are loosening standards on jumbos

02-08-2021

Banks moved to ease lending standards for most mortgage loan products during the second quarter, according to a loan officer opinion survey published this week by the Federal Reserve Board. The quarterly survey found that banks loosened their underwriting standards most notably for jumbo products, including qualified mortgages (QM), jumbo mortgages...

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Fannie and Freddie forbearance numbers dip again

02-08-2021

Servicers’ forbearance portfolio volume fell yet again, this time dipping a single basis point to 3.47% from 3.48% last week, according to a survey from the Mortgage Bankers Association.  According to MBA’s estimate, 1.74 million homeowners are still in forbearance plans. The share of Fannie Mae and Freddie Mac loans in forbearance also decreased two basis points to 1.79%...

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Mortgage fees to help pay for Biden infrastructure bill

02-08-2021

The Senate is banking on extending mortgage fees that Fannie Mae and Freddie Mac indirectly charge to consumers to help pay for traditional infrastructure. According to legislative text publicly shared for the first time today by the U.S. Senate, renewing the guarantee fees through 2032 would result in $21 billion toward...

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Are homebuilders burning bridges with real estate agents?

02-08-2021

Alanna Strei of eXp Realty in San Diego and Cornerstone Communities’ new San Diego townhouses Real estate agent Alanna Strei’s client wanted to check out “Tesoro Vista Del Sur,” 134 newly built townhouses in the Ocean View Hills area of San Diego. The three-story abodes were part of an array of...

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Presenting HousingWire’s 2021 Women of Influence

02-08-2021

The 2021 Women of Influence winners represent 100 of the most influential women in leadership in the housing economy. More than just breaking records in the housing finance space, the HousingWire 2021 Women of Influence are shattering glass ceilings and leaving a legacy for years to come. During a...

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RON legislation passed in Illinois, New Jersey, Oregon

02-08-2021

The use of remote online notarization is now permitted in Illinois, New Jersey and Oregon, bringing the number of states with RON legislation up to 37. Legislation is also pending in New York and New Hampshire, according to the American Land Title Association. The only states to not pass RON legislation...

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Despite national protection expiring, some states will continue banning evictions

02-08-2021

After almost a year, the national ban on evictions is now over. Some states, however, will continue to limit the proceedings for months more.Read more: https://www.cnbc.com/2021/08/02/some-states-will-continue-to-ban-evictions-.html

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Doma goes public, but investors cash out early

02-08-2021

Digital title provider Doma has finally gone public, but has already had to pay out nearly $300 million to early investors who redeemed their shares. Backers said in March that they expected the SPAC merger to raise $645 million in cash — $300 million provided by private investors, plus another...

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eClosing special reports

02-08-2021

The COVID-19 pandemic forced the mortgage industry to digitize transactions that were once completely done in-person. And while technology has streamlined the industry, many housing professionals are still hesitant to exist in a digital landscape. This is partly due to the complexity of the mortgage process, especially at closing. For...

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Solex eClosing from First American Docutech provides lenders with eSigning efficiencies and…

02-08-2021

As lenders strive to reduce costs, close loans faster and deliver a safe, seamless and convenient borrower experience, leveraging a comprehensive eClosing platform is a top priority. Solex eClosing from First American Docutech is designed to accelerate the closing process through a streamlined, end-to-end, modern digital experience, inclusive of lenders...

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