The broker share of conventional-conforming mortgages declined on a sequential basis to 20.3% in the first quarter of this year, according to surveys of various lenders. (Includes two data charts.)
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The Fed hiked short-term rates 75 basis points Wednesday, adding to uncertainty about originations. One thing is for certain: The refi game is over.
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Overall, banks saw a 24% decline in mortgage banking income in the first quarter of 2022. Many banks bucked the trend with large increases in income compared with the previous quarter. (Includes data chart.)
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A New York district court has found that RPM/LendUS used stalling tactics to get out of a merger deal with Entitle Direct Group, a title insurance company.
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Black Knight has suggested mortgage servicers use predictive modeling data or aerial photography to help determine how likely it is that one of their borrowers’ properties was damaged in a natural disaster.
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One economist is blaming the increasing tendency among older homeowners to stay in their homes for longer as one of the key reasons for the housing inventory crunch.
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