Most top lenders reported rising purchase-mortgage business and declining refinance activity in the third quarter. Private MIs lost a little ground in the first-time buyer market. (Includes five data charts.)
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The unprecedented increase has FHFA leadership thinking about the relationship between the conforming loan limits and home price appreciation.
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The mortgage production cycle is starting to turn, so that means a reduction in headcount. But based on third-quarter results from a handful of public shops, the trimming has been light thus far. (Includes data chart.)
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Some non-agency lenders are sticking with the older QM standards due to concerns about liability tied to income and employment verification requirements under the newer, more lenient QM standards.
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A full Senate vote on Julia Gordon’s nomination as FHA commissioner could slip into 2022, while the Senate Banking Committee could vote on Alanna McCargo’s nomination as Ginnie Mae president this week.
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A tougher origination year in 2022? Looks that way, but forecasts can change on a dime when unexpected news alters economic perceptions. Meanwhile, a fist full of nonbank stocks are selling for less than $5 a unit.
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