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CFPB ‘quietly’ affirms support for HUD counselors partnering with mortgage originators

Housing Wire

Department of Housing and Urban Development (HUD)-approved counselors can use fee for pre-purchase counseling and homeownership education services. The change was confirmed through a LinkedIn post by HUD Deputy Assistant Secretary for Housing Counseling David Berenbaum. “The

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Mortgage infrastructure platform Pylon raises $8.5M in seed round

Housing Wire

Headquartered and founded by Trent Hedge and Marco Monteiro earlier this year, the firm’s unified stack offers a white-labeled interface that can pre-fill loan applications in addition to instantly verifying income, assets and pulling credit, according to its website. .

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Opinion: To support low-income borrowers, return Fannie Mae and Freddie Mac to the private sector

Housing Wire

While the conservatorship has allowed for the mortgage market to be restored to its pre-crisis state and strengthened these two government-sponsored entities (GSEs), there are significant downsides to maintaining the status quo indefinitely.

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Mortgage demand gets a boost as rates decline for three straight weeks

Housing Wire

“Purchase applications remain over 30% behind last year’s pace, but recent increases, along with data from other sources showing an uptick in home sales, is a welcome development.” Census Bureau and the Department of Housing and Urban Development ( HUD ). But it’s not just mortgage demand that has fluctuated recently.

Mortgages 431
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Lower debuts white label mortgage platform

Housing Wire

In a letter to shareholders following its first quarter earnings, Opendoor said it is preparing to launch a fully digital financing product that can provide a pre-approval in less than 60 seconds with Lower as a “strategic partner.”. population. Lower originated $4.19 billion in production volume in 2022, down 46.9%

Mortgages 372
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FHA borrowers are getting hammered by rising rates

Housing Wire

Multiple LOs told HousingWire that they’ve had to cut pre-approvals for FHA borrowers by about 15% in response to the rise in interest rates. Mark Westcott, a loan officer at CrossCountry Mortgage , said that borrowers who were pre-qualified at 3.5% 85%) back to the pre-crisis level of.5%,” 5%,” said Chappelle.

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How In The World Did This Happen?

Toronto Realty Blog

TorontoRealtyBlog On Wednesday, I took a look at the pre-construction condominium market in Toronto and how prices and those sweet builder “incentives” look this fall. Today, I want to continue the pre-con theme and present you with a story that I’ve been holding on to for about a month now. There was no catch.