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Demand for home loans climbs despite surging mortgage ratesĀ 

Housing Wire

In addition, loan officers said that investors took advantage of a slower market. Investor demand tends to increase at times when most borrowers are waiting for rates to decline, Justin Fullmer, area manager in Idaho for Future Mortgage , told HousingWire. from the week prior. ” Who is jumping into the market?

Mortgage 364
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Canceled Home Contracts Hit a Two Year High in June 2022

Hank Miller Team

Cancel culture invades real estate.The number of canceled home contracts hit a two year high in June 2022. Still, 22 of contracts terminating isn't a anything to ignore. As inflation runs roughshod over the country, there are multiple factors playing a role in contracts terminating. Can Sellers Sue? in Apr '20.

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Northpointe Bank to shutter its correspondent lending business

Housing Wire

Due to the significant contraction in the overall mortgage industry, we have made the difficult decision to exit the correspondent lending business,ā€ Chuck Williams, president and CEO, said in a statement. billion in the first nine months of 2022, accounting for 41.7% billion in 2022 from the previous year’s volume of $7.29

Lending 361
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Go Mortgage sues former capital markets director for ā€˜corporate sabotageā€™

Housing Wire

Go Mortgage sued its former director of capital markets for “corporate sabotage,” alleging computer fraud, violation of trade secrets, breach of contract and tortious interference with a business relationship. She was the primary contact between Go Mortgage and its institutional lenders, investors and securitization counterparts.

Mortgage 350
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Three trends to watch in 2023

Housing Wire

This article is part of our Housing 2022-23 forecast series. In the first few months of 2022, primary-residence buyers and second-home buyers (investors and vacation buyers) flocked to the market at a frenzied pace under the correct assumption that mortgage rates would rise. offers, according NARā€™s REALTORSĀ® Confidence Index.

Buyers 467
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Housing inventory falls under 1M again as sales collapse

Housing Wire

And existing home sales crashed in 2022 from a peak of around 6.5 The lack of sellers is also a demand problem and what we saw after June of 2022 is that sellers called it quits earlier and faster in the year than usual, resulting in total existing home sales totaling 5,030,000 to end 2022.

Inventory 538
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Secondary mortgage market adjusts to higher-for-longer ratesĀ 

Housing Wire

Ben Hunsaker, a Beach Point Capital Management portfolio manager who is focused on securitized credit, said that during the past year, nonqualified mortgage (non-QM) AAA bond spreads have actually contracted from 155 to 135, while agency mortgage-backed securities (MBS) spreads have widened from about 118 to 134 over the same period.

Marketing 373