While Fannie and Freddie refi business fell sharply in the second quarter, there were significant increases in loans with low credit scores. Meanwhile, the fastest growing sectors of the GSE purchase market had higher LTV ratios. (Includes two data charts.)
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California accounted for most of the overall market decline in agency business during the second quarter, although FHA lending was up in the state. (Includes data chart.)
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Tomo was founded by two former Zillow executives with a sole focus on purchase mortgages. Meanwhile, three-year-old Lower recently completed a $100 million Series A funding round.
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The regulator released additional data collected from the survey of 5% of new mortgage borrowers each quarter. The data covers originations through the third quarter of 2020.
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The first step for many companies looking to ramp up efforts to increase diversity and inclusion: hiring a diversity officer. The MBA’s diversity officer has some other suggestions too.
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