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Government mortgage loan demand drops as affordability issues loom

Housing Wire

Mortgage rates declined last week as headlines on the bank crisis slowed, which could have spurred borrowers’ demand for home loans. Overall, mortgage applications declined 4.1% last week on a seasonally adjusted basis, down from one week earlier, according to the Mortgage Bankers Association (MBA). last week, down from 24.4%

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Reverse mortgage professional’s action helps lead to suspected fraudster’s arrest

Housing Wire

A suspected fraudster nearly brought financial ruin to an elderly resident of London, Ontario in Canada , but an area reverse mortgage professional’s quick thinking is credited with leading to the suspect’s arrest, according to a news release from the London Police Service.

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Ginnie Mae contends TCB can’t rely on alleged verbal promises in lawsuit

Housing Wire

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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Mortgage applications decrease 4%

Housing Wire

After two straight weeks of increases , mortgage applications dropped 4.2% for the week ending May 21, 2021, according to the Mortgage Bankers Association ‘s weekly mortgage applications survey. of total mortgage applications from 63.3% The FHA share of total mortgage applications decreased to 9.1%

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Fewer people are submitting mortgage applications

Housing Wire

Mortgage applications dropped for the second straight week , this time down 4% for the week ending May 28, 2021, according the Mortgage Bankers Association ‘s weekly mortgage applications survey. This week’s data was compared to mortgage applications from the week of Memorial Day in 2020. the previous week.

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Mortgage demand finally ticks up

Housing Wire

Mortgage applications for home purchases and refinances increased for the first time in five weeks but remain at low levels. 25, mortgage applications picked up 2.3% Government refinance applications dropped more than 10% last week. The refinance share of mortgage activity increased to 30.1% For the week that ended Aug.

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Texas Capital Bank shoots back at Ginnie Mae over dismissal motion

Housing Wire

The case stems from Ginnie Mae’s extinguishment of Reverse Mortgage Funding (RMF) from its reverse mortgage-backed securities program. But Ginnie Mae has never sought to contract with TCB itself regarding TCB’s transactions with RMF.”