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Is mortgage demand really picking up?

Housing Wire

Are we seeing the start of a market shift in mortgage demand? Notably, mortgage rates have been gradually declining, and we’ve observed back-to-back positive weeks in purchase application data for the first time since mid-March. For now, we just had back-to-back weeks of positive growth, with mortgage rates still around 7%.

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Housing starts data lags reality of higher mortgage rates

Housing Wire

However, the sting of higher mortgage rates is hitting the single-family construction data, and the real story is that the housing completion data, which has been bad for a long time, is still terrible. We simply cannot finish homes in America promptly, and now that mortgage rates are over 5%, some buyers won’t be able to purchase a home.

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Mortgage credit availability tightened in May

Housing Wire

Mortgage credit availability dropped in May, a consequence of a tougher mortgage landscape that has resulted in lender consolidation as well as high rates and limited inventory that has stretched consumer budgets. The monthly Mortgage Credit Availability Index fell by 3.1% and the Conforming MCAI dropped by 3.9%.

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Fairway Mortgage to partner with Milwaukee Brewers

Housing Wire

Wisconsin-based Fairway Independent Mortgage Corp. One of Fairway’s electronic signs at the stadium reads “Home.com, by Fairway Independent Mortgage Corporation.” Headquartered in Madison, Wisconsin, Fairway is a full-service mortgage lender with more than 400 branches nationwide. The company funded $65.8

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Princeton CEO Rich Weidel on the promise vs reality of mortgage tech

Housing Wire

If you go and look at headlines from 2013-2014 — everything was revolution and transformation and technology was going to lower costs. Within mortgage companies, even those that have huge scale versus small scale, they’re offering really the same borrower experience and the same loan officer experience. SW: How do you fix that?

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Wholesale lender OCMBC fires back at HMAC’s poaching lawsuit

Housing Wire

In response to a poaching lawsuit filed two months by Home Mortgage Alliance Corp. The OCMBC counterclaim brings eight counts, including defamation, breach of contract, fraud and unfair business practices. dba Jet Advantage Mortgage, and Jet Alliance’s wrongful conduct with blatant misdirection.” dba In-House Lender.

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Interfirst, the phoenix of mortgage, lays off hundreds

Housing Wire

Interfirst Mortgage , the retail mortgage business he founded in 2001, had grown to $14.5 By July 2013, things were going so well that Godin and his wife purchased a lakefront mansion in Winnetka, Illinois, for nearly $13 million , a record for the posh Chicago suburb. In 2012, Dmitry Godin was seemingly on top of the world.

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