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Mortgage rates dip below 7% after retail sales surprise

Housing Wire

This Valentines weekend brought an unexpected gift to the housing market as a weaker-than-expected retail sales report sent the 10-year yield tumbling, bringing mortgage rates down to under 7%. Although its a welcome decline, were still seeing rates considerably higher than the near-6% levels we enjoyed for a fleeting moment last year.

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Auction Demand Weakens in Q3 as Retail Market Softens 

Appraisal Buzz

The post Auction Demand Weakens in Q3 as Retail Market Softens first appeared on The MortgagePoint. The post Auction Demand Weakens in Q3 as Retail Market Softens appeared first on Appraisal Buzz. To read the full report, including more data, charts, and methodology click here.

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Open Mortgage closes distributed retail channel, will focus on TPO

Housing Wire

Open Mortgage on Friday shut down its distributed retail channel and laid off more than two dozen employees. Those of you who have worked with us over the years have seen us operate in a profitable manner, and we will continue to do so with an increased focus on our TPO channel in advance of redeploying retail in the future,” he added.

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Smartfi hires industry vet Fiore to lead newly created retail reverse division

Housing Wire

San Diego-based Smartfi Home Loans , which primarily is active as a wholesale lender in the reverse mortgage space, will launch a retail division that offers reverse mortgage products and has hired industry veteran Paul Fiore as its president of retail sales. “I

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Planet Home Lending to acquire retail division of Axia Home Loans

Housing Wire

Mortgage servicer and lender Planet Home Lending is acquiring the retail division assets of employee-owned Axia Home Loans , HousingWire has learned. Employees of the Washington state-based Axia, a retail and wholesale lender , were informed of the transaction on Wednesday afternoon in a one-hour call with leadership.

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Wholesale giant OCMBC acquires defunct retail lender HomeStar Financial 

Housing Wire

Founded in 2001, California-headquartered OCMBC originates in the wholesale , retail and correspondent channels. HousingWire previously reported HomeStar’s decision to suspend its retail operations by the end of 2023 due to mortgage volatility and extreme margin compression. It is licensed in 48 states and the District of Columbia.

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Kind Lending appoints new SVP to drive retail sales in the West

Housing Wire

Kind Lending today announced the appointment of Geri Farr as its senior vice president of West retail sales. “Kind Lending is growing faster than ever, and Geri’s leadership will help us continue this momentum,” said Tammy Richards , Kind Lending’s president of retail.

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