The agency single-family servicing market grew more rapidly in the second quarter of 2023, with nonbanks racking up most of the gains. Ginnie remained the fastest-growing sector.
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It’s all how you look at it. Right? The early results show a turnaround in bank mortgage lending on a sequential basis for the second quarter but ugly drops compared to a year ago. The problem: 7% mortgages.
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Home prices were expected to come down this year due to affordability issues stemming from high interest rates. Instead, home prices look fairly firm thanks to housing supply/demand dynamics.
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Experts call for ongoing, intentional and collaborative efforts across federal agencies to combat racial disparities in homeownership and access to housing financing.
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If ever there was a Horatio Alger story for the mortgage industry it’s Angelo Mozilo, the co-founder of Countrywide Financial. The recently deceased Mozilo proved that nonbanks could compete with the megabanks. Then the subprime crisis happened.
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After FHFA required the GSEs to provide translated mortgage documents, limited English proficient borrowers’ experiences improved, new research shows.
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