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Compass CEO Reffkin believes agents will still be valued in a post-settlement world

Housing Wire

First, more buyers are using agents in 2023 than in 2003. Second, buyer agreements are not new. Compass has the best value proposition for buyers of any brokerage firm,” Reffkin said. Reffkin’s confidence came from what he called “five facts.”

Agents 335
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New American Funding onboards top Chicago loan officer 

Housing Wire

Through NAF Cash, the lender purchases the buyer’s chosen home upfront with cash while the buyer can rent the new home while working on selling the old home or securing financing on the new one. The lender originated $9.6 billion in mortgages in 2023, according to estimates from Inside Mortgage Finance.

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Americans’ mortgage debt increased to $10T in Q4

Housing Wire

trillion in the fourth quarter, surpassing volumes seen during the historic refinance boom in the third quarter of 2003, the New York Fed said. The New York Fed also found that the median credit score of refinancers and repeat buyers was just below 800 at the end of 2020, about 60 points higher than that of first-time buyers.

Mortgage 524
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Nations Lending, Carpenter Realtors launch Commitment Mortgage

Housing Wire

The goal is to help home buyers search for homes and then capitalize on loan offerings, the lender said in a release. Founded in 2003, Nations Lending provides Federal Housing Administration , the Department of Veterans Affairs , conventional, jumbo and the U.S. According to the NMLS , Commitment Mortgage has four sponsored MLOs.

Lending 312
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Average U.S. 30-year mortgage rate rises from all-time low

Housing Wire

Mortgage lending volume this year is likely to break records as homeowners refinance and new buyers scramble to take advantage of some of the cheapest financing costs history, Fannie Mae said in a forecast on Tuesday. Originations this year are expected to reach an all-time high of $3.9 trillion , boosted by $2.4

Mortgage 506
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This federal bill could help remove one of the biggest obstacles to homeownership

Housing Wire

Bush in 2003. National Association of Realtors President Vince Malta pointed to how, despite record-low interest rates, many would-be home buyers can’t come up with funds for a downpayment. The American Dream Down Payment Act will also allow the recipient to use the account to pay for closing costs.

Law 516
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The last time houses were this unaffordable was 2006

Housing Wire

Potential borrowers who’ve been priced out of the housing market need to be able to compete with an increasingly growing share of cash buyers and investors who are beating them in bidding wars. How lenders can continue to serve borrowers despite housing affordability challenges. Presented by: Finance of America.