Housing Wire

JULY 27, 2022

Wire and title fraud remained at all time high levels in the second quarter of 2022 while the market contracted, rates increased and fraud risk continued to rise,” FundingShield CEO Ike Suri said. The post Fraud risk continues to rise even as the market contracts appeared first on HousingWire.

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Housing Wire

AUGUST 6, 2024

Attorneys for Ginnie Mae have responded to Texas Capital Bank (TBC) over the government’s motion to move the case to a different venue. They say that the bank’s own filing on the matter avoids the key issues that the government sought to raise regarding the original clause that specifies where any related legal actions should take place.

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Housing Wire

MARCH 8, 2024

But government attorneys representing Ginnie Mae (GNMA) say that it doesn’t matter whether or not such verbal promises were made. In addition to denying that any such promises were made, attorneys for the government argue they are immaterial, saying that “even if such promises occurred, such promises would have no legal effect.”

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Housing Wire

MAY 15, 2024

The Community Home Lenders of America (CHLA) on Wednesday released a plan that it says would “modernize” Ginnie Mae , the government-owned company that manages the securitization of government-sponsored loans. The second recommendation is a straightforward request to increase the company’s budget.

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Housing Wire

FEBRUARY 23, 2024

TCB claims that it dealt with Ginnie Mae in good faith, having lent “millions of dollars in much-needed financing to help the collapsing [RMF] continue making payments to senior citizens as part of a mortgage program critical to the federal government.” TCB was thus left with no alternative but to file this action,” the bank concluded.

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Housing Wire

JUNE 18, 2024

NOVAD, which held the HUD HECM servicing contract for assigned loans from 2014 to 2022 , worked with Sutherland to form the HECM loan servicing operation on behalf of HUD. Celink was awarded the HECM servicing contract in 2022. NOVAD filed a protest in June of that year, but Celink assumed the contract in December.

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Housing Wire

JUNE 17, 2024

Department of Housing and Urban Development (HUD) submitted a motion to change the court venue where a case with Texas Capital Bank (TCB) is taking place, arguing that a contract clause has been violated by TCB’s choice to file the case in Amarillo, Texas, as opposed to Dallas. The government made the filing Saturday, June 15.

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Housing Wire

JUNE 5, 2024

Fratantoni noted that government purchase volume was down less, aided by growth in U.S. The market is relying on first-time homebuyer demand, and many first-time buyers do use government lending programs,” he said. Department of Veterans Affairs (VA) loan applications. The refinance share of mortgage activity decreased to 31.1%

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Housing Wire

MARCH 3, 2021

“Government refinance applications historically lag the more rate-sensitive movements of conventional applications, and that was true last week, as both FHA and VA refinancing volumes increased.”. The housing market is entering the busy spring buying season with strong demand,” Kan said. from 11.2% the week prior. from 11.9%

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Housing Wire

JANUARY 13, 2021

“Both conventional and government refinance applications increased, with applications for government loans having their strongest week since June 2012.”. “Even with the rise in mortgage rates, refinancing did not slow to begin the year, with the index hitting its highest level since last March,” said Kan.

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Housing Wire

JANUARY 11, 2024

District Court for the Northern District of Texas , Ginnie Mae has filed its response to a lawsuit brought against it by Texas Capital Bank (TCB) saying the warehouse lender lacks standing and discounts the authority the government has to extinguish a lender from its reverse mortgage-backed securities program.

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Housing Wire

OCTOBER 9, 2024

Conventional loan refinances, which tend to have larger balances than government loans and hence are more responsive for a given change in mortgage rates, fell to a greater extent over the week.” MBA data showed that government lending continues to represent a steady share of the mortgage market. For the week ending Oct.

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Housing Wire

SEPTEMBER 28, 2023

An index of 100 is equal to the level of contract activity in 2001. Pending home sales, like new home sales, are based on contract signings. Yun also expressed concern about a possible government shutdown, which could worsen the conditions in the housing market. “It Existing home sales also fell in August, down 15.3%

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Housing Wire

JUNE 2, 2021

“The government purchase index declined to its lowest level in over a year and has now decreased year over year for five straight weeks. “Tight housing inventory, obstacles to a faster rate of new construction, and rapidly rising home prices continue to hold back purchase activity,” Kan said.

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Housing Wire

MAY 5, 2021

MBA’s Associate Vice President of Economic and Industry Forecasting Joel Kan called last week’s mortgage activity “a mixed bag,” between rates , loan sizes, and government purchase applications. Both conventional and government purchase applications declined, but average loan sizes increased for each loan type.

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Housing Wire

SEPTEMBER 23, 2022

A former assistant inspector general for the Department of Housing and Urban Development (HUD) has been convicted by a federal jury of concealing efforts to direct tens of millions of dollars in government business to a friend and government contractor to whom he owed money.

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Housing Wire

OCTOBER 14, 2020

“Applications for government mortgages offset some of the overall decline by increasing 3%, driven by a solid gain in government purchase applications and an 11% jump in VA refinance applications,” said Joel Kan, MBA’s vice president of economic and industry forecasting. The USDA share of total applications rose to 0.6%

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Housing Wire

SEPTEMBER 25, 2024

As a result of lower rates, week-over-week gains for both conventional and government refinance applications increased sharply,“ Kan said in a statement. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances of $766,550 or less dropped by 2 bps to 6.13%.

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Housing Wire

JUNE 13, 2024

In an analysis of more than 100 real estate wire fraud cases, CertifID found that the most common wire fraud-related legal liability issues for real estate firms are negligence, breach of contract, deceptive business practices and breach of fiduciary duty.

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Housing Wire

APRIL 21, 2021

“Borrowers acted on the decrease in rates for most loan types, with both conventional and government refinance applications showing gains,” Kan. The spring housing market also saw a boost from lower rates, with purchase applications — driven by a jump in conventional applications — increasing over 5%.”

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Housing Wire

MAY 26, 2021

Kan noted that refinances decreased as well — by 7%, and 9% lower year over year — driven by declines in both conventional and government refinance activity. “And purchase applications increased for the second time in three weeks, rebounding after a rather weak April with mostly weekly declines,” he said.

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Housing Wire

OCTOBER 28, 2020

However, the government refinance index decreased for the first time in a month, driven by a slowdown in VA refinance activity,” Kan said. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($510,400 or less) fell to 3% from 3.02%. from 66.1% the week prior. from the week prior.

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Housing Wire

AUGUST 19, 2020

Conventional purchase applications drove last week’s increase, while applications for government loans decreased,” Kan said. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($510,400 or less) increased to 3.13% from 3.06%. the week prior. The post Mortgage applications fall 3.3%

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Housing Wire

JULY 1, 2024

The suit alleges that the government-owned company “extinguished, in return for no consideration, TCB’s first priority lien on tens of millions of dollars in collateral” stemming from the Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgage (HECM) program.

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Housing Wire

DECEMBER 14, 2023

Mortgage industry trade group Community Home Lenders of America (CHLA) is urging government agencies to begin to have conversations surrounding the impact of the jury verdict and potential court ruling in the Sitzer/Burnett commission lawsuit on lending practices. I think it is important that we stay a step ahead of this,” Olson said. “We

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Housing Wire

SEPTEMBER 23, 2020

However, last week Kan noted that while conventional and government refinances gained steam, FHA refis experienced a particular uptick. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($510,400 or less) rose to 3.1% The USDA share of total applications rose to 0.6% from 3.07%.

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Housing Wire

MAY 25, 2023

An index of 100 is equal to the level of contract activity in 2001. Affordability challenges certainly remain and continue to hold back contract signings, but a sizeable increase in housing inventory will be critical to get more Americans moving.” The NAR’s Pending Home Sales Index maintained its reading of 78.9

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Housing Wire

JUNE 9, 2021

“Most of the decline in mortgage rates came late last week, with the 30-year fixed-rate mortgage declining to 3.15 percent,” said Joel Kan, the MBA’s vice president of economic and industry forecasting. from 0.29 (including the origination fee) for 80% LTV loans. from 0.29 (including the origination fee) for 80% LTV loans.

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Housing Wire

NOVEMBER 4, 2020

According to Joel Kan , MBA’s associate vice president of economic and industry forecasting, borrowers made a grab for both conventional and government refi’s. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($510,400 or less) increased to 3.01% from 3%. from the week prior.

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Housing Wire

NOVEMBER 25, 2020

Amidst strong competition for a limited supply of homes for sale, as well as rapidly increasing home prices, purchase applications increased for both conventional and government borrowers. Furthermore, purchase activity has surpassed year-ago levels for over six months.”. The refinance share of mortgage activity reportedly increased to 71.1%

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Housing Wire

MARCH 24, 2021

Refinance activity dropped to its slowest pace since September 2020 – down a full 5% – with declines in both conventional and government applications, according to Joel Kan, MBA’s associate vice president of economic and industry forecasting. He added that mortgage rates have moved higher in tandem with Treasury yields.

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Housing Wire

NOVEMBER 21, 2023

The Federal Housing Finance Agency (FHFA) on Tuesday published a final rule that amends several provisions of the Enterprise Regulatory Capital Framework (ERCF) for government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. for multifamily mortgage exposures secured by properties with certain government subsidies.

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Housing Wire

DECEMBER 23, 2020

Purchase applications decreased for the second time in three weeks, as both conventional and government applications saw a drop-off,” Kan said. .” Kan added that overall refinance activity is 124% higher than the same period from last year, as borrowers continue to seek lower monthly payments or different loan terms.

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Housing Wire

JUNE 13, 2023

While the Conventional MCAI, which does not include loans backed by the government, decreased 2.3%, the Government MCAI, which examines FHA, VA, and USDA loan programs, fell by 3.8%. Of the two component indices of the conventional index, the Jumbo MCAI fell by 1.5% and the Conforming MCAI dropped by 3.9%.

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Raleigh Realty

MARCH 29, 2021

Buying a Home As a Government Employee Are you a government employee preparing to buy a home? With the right resources, you can ensure a successful investment and one in which you may save tens of thousands of dollars thanks to being a government employee. Who Is a Government Employee?

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Housing Wire

AUGUST 2, 2024

CoreLogic ensures that its data is used under the proper legal contracts and obligations. CoreLogic relies on an internal governance structure to guide its use of AI solutions based on what happens in the larger regulatory market. Risk factors. From there, Wheeler segues into AI cybersecurity.

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Housing Wire

MARCH 2, 2023

The government corporation is also seeking an executive vice president and chief operating officer to manage daily operations and round out the leadership team. The government corporation in October announced changes to the re-pooling seasoning requirement for re-performing loans, which it says will increase issuer liquidity.

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