Remove 2023 12 14 what-needed-close-on-house
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Finally, some healthy housing inventory growth

Housing Wire

Housing inventory finally hit my target level of growth last week with mortgage rates now over 7.25% , something I couldn’t get all last year. Of course, what is different this year versus last year is that new listing data is growing yearly instead of trending at the lowest levels recorded in history. 2022: 18.7%

Mortgages 501
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Why home prices haven’t crashed even with high mortgage rates

Housing Wire

The most underreported housing story I’ve seen this year is that even with mortgage rates rising to 8%, the number of homes that took price cuts before they sold was 4% below 2022 levels. This happened even with higher home prices and higher mortgage rates in 2023. the seasonal peak this year was on Nov.

Mortgages 532
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The great mortgage bank consolidation wave is underway

Housing Wire

One mortgage M&A expert believes that of the 130 or so IMBs that did $1 billion to $2 billion for production in 2021, 17% of them will not even be able to do $500 million over the 12 months ending June 30, 2023. We’re seeing a lot of that this year, and it will certainly continue in 2023. trillion in 2021.

Banks 395
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Fix and flip market struggles as financing costs rise

Housing Wire

Transactions in the fix and flip market have been booming in recent years, with more than 407,000 homes flipped in 2022, up 14% over 2021 and up 58% over 2020, according to a recent report by real estate data firm ATTOM.

Finance 370
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Ex-Wyndham Capital Mortgage exec launches Cornerstone Home Loans 

Housing Wire

Donny Kirby, former vice president of national direct-to-consumer sales at Wyndham Capital Mortgage , spent more than 12 years at Charlotte, North Carolina-based company before leaving to start a mortgage broker shop, Cornerstone Home Loans. Kirby hopes to have a total of 15 LOs and close $50 million in production volume by year-end.

Loans 392
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VA official talks future of partial claims and revamping its reputation

Housing Wire

In a few months, the loss mitigation measures that have kept close to 100,000 veterans from foreclosure during COVID-19 will end. Decisions of policymakers at the Department of Veterans Affairs will determine what happens to those borrowers. These are great borrowers, and they need to be given a chance.

VA loan 369
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Smaller nonbanks facing “come to Jesus moment” as MSR values dip 

Housing Wire

Driving home the concern over MSR pricing declines is a recent advisory bulletin issued by the Federal Housing Finance Agency (FHFA), which overseas Fannie Mae and Freddie Mac. The year ahead for the mortgage-servicing rights market is shaping up to be a lucrative play for investors, lenders and others looking to purchase MSR assets.

Investor 304