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Homelendia Mortgage launches mortgage brokerage franchises

Housing Wire

Homelendia Mortgage LLC, a Florida-based mortgage brokerage franchisor, launched its mortgage brokerage franchises this week, offering individual unit and regional opportunities to qualified individuals, teams, brokerages and loan originators.

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Guild acquires small retail lender Legacy Mortgage

Housing Wire

Acquisitive lender Guild Mortgage on Tuesday announced the acquisition of Legacy Mortgage , increasing its footprint in the Southwest. The lender originated approximately $309 million in mortgages in 2022, according to data from mortgage technology platform Modex.

Mortgages 326
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Mortgage demand picks up as seller concessions rise

Housing Wire

Loan officers saw an increase in mortgage demand during the first week of 2023 as mortgage rates ticked down. According to the Mortgage Bankers Association (MBA), mortgage applications rose 1.2% Concessions, mortgage rate buydowns save deals.

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Homebuilders still need lower mortgage rates

Housing Wire

On the other hand, mortgage rates have gone down more than 1% since Oct. The builders’ stock prices have done well as mortgage rates have fallen , and this illustrates the simplicity of the homebuilders’ position: their story is really about mortgage rates and moving products.

Mortgages 425
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The Real Estate Pulse: Analyzing the 2022 Housing Market

Speaker: Grier Allen, CEO and Co-Founder of BoomTown

In this session, Grier Allen, CEO and Co-Founder of BoomTown, will breakdown the top housing trends for 2022, and help you navigate the constant changes in the market so that you can achieve success!

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Snapdocs completes integration with Mortgage Cadence LOS

Housing Wire

Digital closing platform Snapdocs announced on Tuesday that it has completed its integration with Mortgage Cadence, a cloud-based digital lending platform. This integration will enable lenders to finalize closing documents using Snapdocs within Mortgage Cadence’s loan origination system (LOS).

Mortgages 262
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Mortgage applications ticked up 7.4% during wild week in mortgage

Housing Wire

During the week that mortgage rates very briefly touched down into the 5% range, mortgage applications increased 7.4%, according to the latest reading from the Mortgage Bankers Association. Still, mortgage demand is down 58% from a year prior.

Mortgages 195
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Borrower demand declines amid a volatile mortgage market 

Housing Wire

Borrower demand for home loans increased in the first three weeks of 2023, sparking optimism among mortgage industry executives and loan officers. According to the MBA , mortgage applications decreased 9% across the board for the week ending January 27 compared to the week prior.

Mortgages 294
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Sprout Mortgage to shutter

Housing Wire

Non-QM lender Sprout Mortgage is shutting down operations, multiple workers said on Wednesday. The closure of Long Island-based Sprout, headed by industry veteran Michael Strauss, represents the second non-QM mortgage lender to close in recent weeks amid historic volatility.

Mortgages 405
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Canadian mortgage brokerage takes Rocket Mortgage name

Housing Wire

Rocket Companies ‘ subsidiary Edison Financial will rebrand as Rocket Mortgage next month in Canada, a market with more than $760 billion (CAD) in mortgage originations annually. Rocket Mortgage also plans to become a direct lender in Canada later this year.

Brokerage 341
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First Internet Bank is shuttering its consumer mortgage business

Housing Wire

First Internet Bank is shutting down its consumer mortgage business due to a steep decline in mortgage volumes and the negative outlook for mortgage lending that is forecasted to continue for the next several years.

Banks 353
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Mortgage rates have peaked along with inflation

Housing Wire

This should also mean mortgage rates hit their highs. The key phrase I have stressed since I wrote about the case for mortgage rates to go lower on Oct. This does mean mortgage rates should be getting better today.

Mortgages 420
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Positive jobs report sends mortgage rates higher

Housing Wire

Mortgage rates did break under 6% yesterday for the first time in a while, only to retrace 0.20% basis points higher from 5.99% to 6.19%. The noticeable downward trend on wages in today’s jobs report is a big reason why the 10-year yield is not above 4.25% and mortgage rates are near 8%.

Mortgages 309
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Could the assumable mortgage level the playing field?

Housing Wire

California-based Carrington Mortgage Services (CMS) sees a window of opportunity in the mortgage market. CMS is going heavy on a rarely used mortgage product to solve this market problem. The product, known as an assumable mortgage, is not new.

Mortgages 282
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Waterstone Mortgage promotes Rico Garcia to VP

Housing Wire

Wisconsin-based mortgage lender Waterstone Mortgage Corp. Garcia’s professional career spans more than two decades in the mortgage lending industry, with more than five years at Waterstone Mortgage. Mortgage mortgage lending People Mover Waterstone Mortgage

Mortgages 330
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New cash-out fees add to pain for mortgage lenders

Housing Wire

The last week of the calendar year is usually a slow time for the mortgage industry, but 2022 was something else. Mortgage applications decreased 13.2% Cash outs are harder to do,” United Wholesale Mortgage ‘s CEO, Mat Ishbia, said in a recorded video.

Mortgages 405
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Mortgage applications jump 16%

Housing Wire

After several consecutive weeks of drops, mortgage applications jumped 16% for the week ending July 9, 2021, according to the latest report from the Mortgage Bankers Association. The refinance share of activity of total mortgage applications increased to 64.1%

Mortgages 412
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As mortgage rates decline, the mantra is ‘no buyers left behind’ 

Housing Wire

As mortgage rates continue to decline, Chad Earnest’s mantra with his referral partners in 2023 is “no buyer left behind.” One buoy to Earnest’s team efforts: mortgage rates are declining, which is bringing borrowers on the sidelines back to the market.

Mortgages 393
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Solid jobs report sends mortgage rates lower

Housing Wire

Mortgage rates fell aggressively down to 6.20%, putting us at more than 1% below the highs of 2022. This is why Friday’s data is exciting to see and why the bond market sent mortgage rates to 6.20% and yes — we are back on 5-handle mortgage rate watch.

Mortgages 422
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Mortgage rate watchers are closely tracking the labor market

Housing Wire

That could tamp down optimism for a speedy rebound for the mortgage industry. . ” What does it mean for mortgage rates and the housing industry? Easing inflation brings hope for better mortgage rates. Mortgage rates averaged 3.22% one year ago.) .

Closing 378
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Rocket Mortgage affiliate restructures marketing team, imposes layoffs 

Housing Wire

With a challenging year ahead, the professional services company affiliated with Rocket Mortgage has decided to restructure the marketing team in the first week of 2023, resulting in about 20 jobs cut, according to former employees. . Rocket Mortgage produced $25.6

Mortgages 393
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Mortgage applications rebound as mortgage rates drop

Housing Wire

After two weeks of decreases, the Mortgage Bankers Association reported that mortgage applications increased 1.1% 11 amid mortgage rates that hit a new survey low. The refinance share of mortgage activity increased to 72.7%

Mortgages 369
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Lower mortgage rates, higher inventory boost demand for home loans 

Housing Wire

Like its competitors, Tennessee-based First Community Mortgage, Inc. (FCM) FCM) reduced the company’s size through 2022 amid a tough mortgage market. Meanwhile, a Mortgage Bankers Association (MBA) report covering 75% of all U.S.

Loans 377
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Movement Mortgage to acquire top indie retail firm Mortgage Network

Housing Wire

Top-25 retail lender Movement Mortgage struck a deal to acquire Massachusetts-based retail firm Mortgage Network , multiple sources told HousingWire. . The deal adds $2 billion in annual volume, 250 mortgage professionals and 31 branch offices to Movement’s book of businesses. .

Mortgages 312
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Cooler inflation data sends mortgage rates lower

Housing Wire

On Tuesday, the Consumer Price Index (CPI) data came in cooler than expected , and the bond market loved it, driving mortgage rates lower. The next 12 months and mortgage rates. Housing Market Mortgage Mortgage Rates Inflation

Mortgages 424
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Lower debuts white label mortgage platform

Housing Wire

Columbus, Ohio-headquartered lender Lower rolled out mortgage as a service platform that enables consumer finance, banking and real estate companies to offer its mortgage products. . billion, mortgage data platform Modex showed. Purchase mortgages consisted of 52.4%

Mortgages 312
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Revolution Mortgage integrates Tavant’s Touchless Lending

Housing Wire

Mortgage lender Revolution Mortgage has partnered with Tavant, an AI-powered digital lending company, to integrate Tavant’s Touchless Lending product suite into Revolution Mortgage’s platform. Mortgage Technology Revolution Tavant Technologies

Lending 335
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Mortgage applications decrease 4%

Housing Wire

After two straight weeks of increases , mortgage applications dropped 4.2% for the week ending May 21, 2021, according to the Mortgage Bankers Association ‘s weekly mortgage applications survey. of total mortgage applications from 63.3%

Mortgages 385
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Guaranty Home Mortgage hires EVP to expand retail channel

Housing Wire

Tennessee-based mortgage lender Guaranty Home Mortgage Corporation hired Andy Voyles as executive vice president and director of retail lending. The mortgage lender hopes to boost volume in the channel. the following year, according to mortgage tech platform Modex.

Mortgages 316
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The mortgage industry is nervous about LLPA fee changes

Housing Wire

The Federal Housing Finance Agency this week made a series of significant changes to loan level pricing adjustment (LLPA) fees charged by Fannie Mae and Freddie Mac on conventional/conforming mortgages.

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Mortgage Coach integrates with Insellerate

Housing Wire

Mortgage Coach , a mortgage platform that enables lenders to educate borrowers with home loan presentations, announced that its platform will be integrated with Insellerate, a customer relationship management (CRM) platform. Mortgage Proptech Insellerate Joe Puthur Mortgage Coach

Mortgages 327
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Mortgage Coach integrates with Polly’s PPE

Housing Wire

Sales Boomerang and Mortgage Coach announced an API integration between Mortgage Coach and SaaS technology provider Polly on Thursday. And stay tuned; there is much more to come from Polly’s partnership with Mortgage Coach.”.

Mortgages 341
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Mortgage demand declines at a slower pace

Housing Wire

Borrowers’ demand for mortgage loans declined at a slower pace last week when mortgage rates dropped slightly ahead of the Federal Reserve ’s (Fed) meeting to announce the new target for the federal funds rate. The adjustable-rate mortgage (ARM) share of activity was at 11.8%

Mortgages 353
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Expansion-hungry Guild gobbles up Inlanta Mortgage

Housing Wire

San Diego, California-headquartered retail lender Guild Mortgage is staying true to its words of expanding through acquisitions. Mary Ann McGarry, Guild’s CEO, said that the company is patient in closing a deal and has been in conversations to acquire Inlanta Mortgage for about a year.

Mortgages 332
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Flagstar Bank makes big cuts to retail mortgage operation

Housing Wire

A former mortgage underwriter wrote, “Flagstar just laid off everyone, so after 2 1/2 years, I’m back in the job market.” 19 among mortgage lenders in America, and New York Community Bank, one of New York City’s largest multifamily lenders, announced in April 2021 a $2.6

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