Real Estate News
With Democrats in power, will CRA be expanded to nonbanks?
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President Biden and Democrats in Congress have backed plans to subject a broader array of companies to Community Reinvestment Act requirements. But there’s no guarantee such reforms will happen.…Continue readingWith Democrats in power, will CRA be expanded to nonbanks?
End-of-Year Delinquencies a Challenge for 2021
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Posted To: MND NewsWire

Mortgage performance understandably deteriorated over the course of 2020. Black Knight, in its "first look" at December data, noted that the year ended with 1.54 million more delinquent mortgages and 1.7 million more that were seriously delinquent than at the start, calling it "a looming reminder of the challenges facing the market in 2021 ." The situation did continue to improve as the year ended. The national delinquency rate fell 3.9 percent from November to December and the resulting rate of 6.08 percent of all active loans was the lowest since April 2020 when the financial effects of the pandemic kicked in. It is however, nearly 79 percent higher than the rate at the end of 2019. Serious delinquencies, loans 90 or more days past due but not in foreclosure, also declined, dropping by 47...(read more)

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Mortgage and refinance rates today, January 22, 2021
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Today’s mortgage and refinance rates  Average mortgage rates inched lower yesterday. The fall was the smallest that can be measured. But was welcome nonetheless. First thing this morning, key markets […]…Continue readingMortgage and refinance rates today, January 22, 2021
MBS RECAP: Calm Week Ends on an Even Calmer Note
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Posted To: MBS Commentary

Calm Week Ends on an Even Calmer Note It's rare to see non-holidays Fridays in January be quite as underwhelming as today turned out to be. Bonds remained locked perfectly inside prevailing trends. That's a good thing in this case as it meant moderate gains for both MBS and Treasuries. Volatility risks increase next week with a bigger slate of economic data, but we'll wait to get too excited about that until it actually proves capable of moving the needle. Today's video discusses what might be required for 10yr yields to break below 1.0%. Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th) Existing Home Sales 6.76m vs 6.55m f'cast, 6.71m prev Markit Composite PMI 58.0 vs 55.3 prev Market Movement Recap 08:35 AM Markets trading ' risk-off...(read more)

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Continue readingMBS RECAP: Calm Week Ends on an Even Calmer Note
Non-residential building to decline this year
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The American Institute of Architects (AIA) is projecting a 5.7%
Mortgage forbearances increase as coronavirus cases spike
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The uptick follows the pandemic-era trend of midmonth increases in active plans, according to Black Knight.…Continue readingMortgage forbearances increase as coronavirus cases spike
Mortgage and refinance rates today, January 21, 2021
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Today’s mortgage and refinance rates  Average mortgage rates edged lower yesterday. It was a small drop but it inches them further toward the all-time low, though there’s still a way […]…Continue readingMortgage and refinance rates today, January 21, 2021
Existing Home Sales Reach Highest Levels Since 2006
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Posted To: MND NewsWire

Existing home sales resumed an upward trajectory in December. After drifting lower by 2.5 percent in November, breaking a five-month streak of gains , the National Association of Realtors® (NAR) said sales in the last month of the year rose 0.7 percent. Sales of single-family homes, townhomes, condominiums, and co-ops, were at a seasonally adjusted annual rate of 6.76 million during the month, compared to 6.69 million units in November. This represented a 22.2 percent increase over the 5.53 million unit rate a year earlier. The numbers were above the 6.40 million to 6.62 million range of forecasts by analysts polled by Econoday. Their consensus was for an annual rate of 6.55 million units. Single-family home sales were also 0.7 percent higher than the previous month at an annual rate of...(read more)

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How can originators do better at handling their mistakes?
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Professionally, originators and loan officers have been dealing with some
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