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Santander Bank to stop originating mortgages in the United States

Housing Wire

The decision will not impact the commercial mortgage business. Inside Mortgage Finance reported that Santander residential production totaled $2.7 Santander’s decision regarding mortgage and home equity is another sign that the good times of the U.S. mortgage industry are in the past. trillion in 2022.

Banks 468
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The mortgage rate pendulum swings yet again

Housing Wire

Mortgage rates hold major power in the housing industry; most importantly, high rates exacerbate the current affordability crisis by walloping the buying power of would-be buyers and discouraging some would-be sellers – those with low, fixed-rate mortgages – from listing their homes, a drain on available inventories.

Mortgages 493
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Redwood Trust, Angel Oak Mortgage awash in red ink in Q2

Housing Wire

Its earnings report shows that it added a new $340 million warehouse financing facility during the second quarter and since the end of the quarter it increased the capacity of an existing warehouse line by $260 million — to a total of $600 million. billion of unused warehouse capacity to support go-forward mortgage banking production.”.

Mortgages 397
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Fed retreat from MBS market sparks short-term uncertainty

Housing Wire

“It doesn’t make sense to start raising interest rates [to fight inflation] without running off their MBS portfolio,” said Laurie Goodman, vice president for housing finance policy and the founder of the Housing Finance Policy Center at the Urban Institute. by the end of the year. in 2009 to 1.9%

Marketing 435
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UWM offers legal support to brokers, accuses Rocket of ‘connections’ with Hunterbrook report

Housing Wire

In response, the company said its average rate for the $97.6 billion of mortgages sold to Fannie Mae and Freddie Mac in 2023 was 6.51%, compared to the 6.81% average for the 30-year fixed rate mortgage. Lenders are a mix of credit unions, commercial banks, and mortgage lending companies.

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Some lenders won’t survive the purchase mortgage market of 2022

Housing Wire

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. Justin Woodward has experienced the best and the worst of the mortgage industry in only 18 months. “I had not done first mortgage lending before, but I was familiar with the basics of real estate lending. year over year.

Mortgages 526
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Opinion: Don’t shrink the GSEs’ market footprint ?

Housing Wire

The Community Home Lenders Association (CHLA), which represents small and mid-sized IMBs, just sent a letter to the Federal Housing Finance Authority (FHFA) , asking for tweaks to FHFA’s recently announced fee hikes on second home and high balance Fannie Mae and Freddie Mac loans. It does not envision FHFA making these sorts of decisions.

Marketing 370