There is some evidence that production was less efficient in the third quarter, but profitability was up anyway. Servicing income was clearly stronger. (Includes data chart.)
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Call-report data show bank mortgage repurchases fell 9.4% in the third quarter. However, GSE buyback volume continued to climb. (Includes data chart.)
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Low-income first-time homebuyers face higher closing costs than others receiving purchase mortgages, according to economists at Fannie Mae. The GSE is suggesting changes that could fix some of that.
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An appraisal company failed to note that improvements to a refinanced property happened to encroach on neighboring land, but the lender, First Community Mortgage, couldn’t pin losses on the appraiser.
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Foreclosures are down, but forbearance is up. Industry analysts have some theories as to why homeowners aren’t selling, but motivations remain somewhat unclear.
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Mortgage originators in disaster-prone areas should monitor the trends that could lead to a sustained rise in property insurance premiums, according to advisory firm SitusAMC.
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Start-up mortgage lender Beeline completes Series A funding; HouseCanary publishes report defending its AVM; DC attorney general introduces legislation aimed at the use of algorithms by companies in the housing sector; LoanLogics acquires LoanBeam.
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Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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