“HUD is committed to making the appraisal process fair nationwide. We must eliminate bias in home valuations so that everyone can equally reap the benefit of wealth—and intergenerational wealth—that come along with homeownership,” said HUD Secretary Marcia L. Fudge.
Read More »Dip in Rates Drives Refi Volume Upward
The 2023 mortgage market began on a positive note, as Freddie Mac reported a week-over-week slide in mortgage rates leading to an uptick in refinance apps.
Read More »WF to Close Correspondent Business, Shrink Mortgage Servicing Portfolio
Wells Fargo has announced it will significantly shrink its mortgage servicing portfolio in a recent release, revealing the shift will result in a round of layoffs for the bank’s mortgage operations.
Read More »Year Begins With Mortgage Rates on the Upswing
Freddie Mac reports that 2023 has begun with a second consecutive week of mortgage rate hikes, with app activity sinking to a quarter-century low as high rates continue to weaken the housing market.
Read More »Title Insurance Market Reflecting Changes in Real Estate
The title insurance industry generated $5.4 billion in title insurance premiums over the last year. Click through to see how those figures compare to those of years past.
Read More »Record Amount of Sellers Delisting Homes
Redfin is reporting that a record number of sellers are taking their properties off the market. Click through to find out how many sellers are taking this route.
Read More »Baseline 2023 Conforming Loan Limit Rises to $726,200
In most of the U.S., the 2023 CLL value for one-unit properties will be $726,200, an increase of $79,000 from $647,200 in 2022.
Read More »Bringing Credit Invisibles Into the Light
Michele M. Evans of Fannie Mae discusses the GSE’s new Positive Rent Payment Reporting pilot program and how renters on the path to homeownership can build their credit history and improve their credit score.
Read More »Mortgage Credit Availability Slides to Nine-Year Low
The MBA reports that credit standards are becoming more restrictive, as its Mortgage Credit Availability Index drops to its lowest level since March of 2013.
Read More »Mortgage Rates Edge Back Above 7%
After slight relief in mortgage rates last week, the Fed’s sixth rate hike of the year finds the housing market adjusting to rapidly tightening monetary policies, as rates returned north of the 7% mark.
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