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Mortgage industry 2024: Legal challenges, losses and major …
1 day ago · UWM files suit against creator of Facebook group for brokers. Article by Maria Volkova. United Wholesale Mortgage is sued Ramon Walker, owner of brokerage Client Direct Mortgage and creator of a Facebook group dubbed "Rocket Pro TPO vs. UWM," for trademark infringement and not paying an outstanding early payout balance of $124,011.37.. In December 2023, UWM sent a cease-and-desist, warning ...
National Mortgage News - November-December 2024
More "Airbnb-style" rental property loans are making their way into non-qualified mortgage securitizations and could they be acting differently from the traditional non-owner occupied loans, a Standard & Poor's report asks.
Mortgage delinquencies deteriorate in November
1 day ago · November's total delinquency rate was 3.74%, an increase of 29 basis points or 8.38% from October's 3.45%. It is also a gain of 10.46% from November 2023's 3.39%. It is also the highest level of delinquencies since February 2022, when the rate was 3.94%.
What mortgage lenders want from Trump, Congress in 2025
2 days ago · The title insurance industry has seemingly been in the government's crosshairs this year. The CFPB has mulled making lenders pay title insurance and has characterized the coverage as "junk fee," while the FHFA is moving forward with a title waiver pilot. The American Land Title Association slammed the government's moves, and last month bipartisan lawmakers backed its call to stop the FHFA's pilot.
Fed cuts but mortgage rates could be 'higher for longer'
6 days ago · The 10-year Treasury yield rose 11 basis points, much of that after the FOMC announcement, to close at 4.49%. "The comments and tone of the meeting contradicted previous forecasts of more aggressive cuts causing pressure directly on bonds," said Phil Crescenzo Jr., vice president of the Southeast division at Nation One Mortgage Corp., noting that this resulted in lenders having to adjust ...
More commission clawbacks are coming, insiders say
6 days ago · That, especially based on recent home buying activity reports, is still likely to set off an increase in purchase activity.But that kind of drop could also spur refinance volume created from loans recently originated.. Fannie Mae's November outlook predicts the refi share of originations in 2025 to grow to 27% from 21% this year, even though it only expects rates to drop to 6.4% from 6.7%.
National Mortgage News Magazine
Jan 23, 2024 · Complete content from the latest issues of National Mortgage News Magazine.
Mortgage rates climb and more rises may be on the way
Nov 7, 2024 · The 30-year fixed rate mortgage averaged 6.79% on Nov. 7, up from 6.72% seven days earlier, the Freddie Mac Primary Mortgage Market Survey said.The year-over-year spread was 71 basis points, when this rate was 7.5%.. Meanwhile, the 15-year FRM averaged 6%, a gain of one basis point from Oct. 31's 5.99%.
Monthly mortgage payments are going up | National Mortgage …
Nov 26, 2024 · The median monthly payment on new-purchase mortgages increased 4.2% to $2,127 in October from $2,051 a month earlier. Still, the current payment level moderated from one year prior, coming in 3.3% lower from the October 2023 mark of $2,199, according to the Mortgage Bankers Association. This was the first rise in six months and finished at its highest mark since July, the industry trade group ...