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CFPB files amicus brief in support of Maine mortgage borrowers in TILA lawsuit

Housing Wire

Bordick , under the federal Truth in Lending Act (TILA) on behalf of a couple that took out a mortgage in 2008 in order to purchase land for the construction of a new home. While they sold the home in 2014, the sale proceeds were not enough to cover the debt since the home lost value during the 2008 financial crisis.

Law 296
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What does the fix-and-flip market look like right now?

Housing Wire

In general, after what we went through and what’s going on with home prices, construction costs and interest rates, there is less liquidity for bridge and fix-and-flip versus non-QM.” Acra has funded $10 billion-plus of loans since it was founded in 2014. We have a very clean balance sheet, and our pricing is competitive.”

Marketing 344
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Mortgage credit, and the coming purchase storm

Housing Wire

last month, still hovering near levels previously seen in 2014. Mortgage credit is still the tightest it has been in more than six years, but an unwavering February may be the calm before the purchase storm as lenders prepare for a revitalized economy, the Mortgage Bankers Association said in a report on Tuesday.

Mortgage 475
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How is housing demand holding up? Logan Mohtashami answers

Housing Wire

Some historical references: The last two times rates rose, this is what we saw — 2013/2014 negative — 20% year over year trend 2018 purchase application data was flat to slightly positive all year long; we only had three mild negative years over year prints when rates headed to 5%. This data line is trend survey data.

Inventory 343
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Can first-time homebuyers afford homes today?

Housing Wire

While spring of 2022 saw a similar share of all-cash homebuyers, one needs to look back to 2014 before seeing similar shares. For buyers to afford to enter the market comfortability and sustainably, new construction, office conversion, and reimagining existing spaces such as vacant schools could hold the key.

Realtors 420
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Beware of gloom and doom housing market crash headlines

Housing Wire

The last time we had a consistent downtrend in existing home sales was back in 2013-2014. During that same period, the MBA purchase application data were down 20% year over year on-trend in 2014. months, builders pull back, and new construction stalls. It was more noticeable than what we saw in 2018.

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Home prices surge to six-year high in November

Housing Wire

November’s numbers mark the greatest annual growth rate since February 2014 and even blew past the 8.4% According to Hale, realtor.com’s 2021 outlook expects an eventual moderation to price gains as home construction ramps up and the widespread availability of COVID vaccines bring more flexible sellers back to the housing market.

Inventory 544