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Mortgage applications rise to highest level since July 2022

Housing Wire

Mortgage applications are now at their highest level in more than two years after an 11% jump during the week ending Sept. 20, according to the newest weekly applications survey from the Mortgage Bankers Association (MBA). Adjustable-rate mortgages (ARMs) accounted for 5.9% on mortgages with 80% loan-to-value ratios.

FHA loan 430
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Santander Bank to stop originating mortgages in the United States

Housing Wire

Amid higher rates, lower volumes, and fiercer competition , Santander Bank decided it will stop originating residential mortgages and home equity loans in the United States. The Spanish bank said it will continue to service current loans and honor pending borrowers’ applications. mortgage industry are in the past.

Banks 451
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UWM offers legal support to brokers, accuses Rocket of ‘connections’ with Hunterbrook report

Housing Wire

In a message to mortgage brokers, United Wholesale Mortgage (UWM) defended itself from the Hunterbrook Media report that claims the lender orchestrated a scheme to steer loans. He worked for an independent mortgage broker that actually shopped between options.

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Rise above the panic, for the housing market’s sake

Housing Wire

trillion in commercial real estate debt will mature, “… by far more than any 5-year period in history.” Musk went on to comment that the rise in defaults among commercial and residential loans could “hammer” banks. When this back and forth was unfolding, mortgage demand rose 2.9% What does this sound like to you?

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Some lenders won’t survive the purchase mortgage market of 2022

Housing Wire

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. Justin Woodward has experienced the best and the worst of the mortgage industry in only 18 months. “I had not done first mortgage lending before, but I was familiar with the basics of real estate lending.

Mortgages 525
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Fed pauses rate hikes in June. But how long will it last?

Housing Wire

The Federal Reserve (Fed) maintained the federal funds rate in the 5% to 5.25% range on Wednesday, following 10 consecutive hikes that brought rates to a level never seen since 2007. The Fed imposed its fastest series of rate increases since the 1980s, but it wants to avoid over-tightening and causing a significant recession. “In

Banks 388
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Opinion: Don’t shrink the GSEs’ market footprint ?

Housing Wire

With the implosion of the Private Label Securities (PLS) market after the subprime fiasco in 2008, Fannie Mae and Freddie Mac (along with FHA) have assumed an increasing market share of the origination of 30-year fixed rate mortgages. The argument is that “private markets” should have more mortgage market share.

Marketing 370