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One mortgage lender abandons the Florida condo market

Housing Wire

Provident told broker partners that all loans in the pipeline must be locked by 11:59 p.m. Additionally, all loans currently locked must be funded by the lock expiration date. In particular it’s created a glut of 30-plus-year-old units on the market, with few takers. PST on Oct. 31 or they’ll be declined.

Mortgages 524
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CFPB rule applies mortgage protections to clean energy loans

Housing Wire

The Consumer Financial Protection Bureau (CFPB) on Tuesday announced a final rule governing the Property Assessed Clean Energy ( PACE ) loan program. The rule applies existing protections for residential mortgages to borrowers who seek PACE loans to upgrade or renovate their homes through clean energy technology.

Loans 396
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The Loan Store partners with Gateless for AI-powered mortgage underwriting

Housing Wire

Mortgage technology company Gateless is offering its flagship automated underwriting platform to a new lender. The Loan Store — a wholesale lender based in Arizona — will now use the Gateless Smart Underwrite platform, according to a recent announcement.

Loans 397
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More homebuyers seek government-backed loans as an affordability lifeline

Housing Wire

The combined cost of mortgages, taxes and insurance now takes up a larger share of household income than it has since the early 1980s, according to an affordability index from John Burns Research & Consulting. Department of Veterans Affairs (VA) loans, which made up 10%, according to purchase loan lock data from Optimal Blue.

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Mortgage applications climb as rates continue to decline

Housing Wire

Mortgage applications increased 11.2% on a seasonally adjusted basis from last week, according to data from the Mortgage Bankers Associations (MBA) weekly mortgage applications survey for the week ending March 7, 2025. The refinance share of mortgage activity increased to 45.6% of total applications from 43.8% from 16.7%

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Better launches voice-based AI loan assistant

Housing Wire

Better Home & Finance, the parent company of digital lender Better.com , launched its voice-based artificial intelligence loan assistant on Thursday. ” The AI loan assistant, dubbed Betsy, was built through Tinman, the company’s proprietary loan origination platform, where information and facts on loan applications are stored.

Loans 435
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Will AI replace the loan officer?

Housing Wire

There have been countless press releases and news articles about how AI is changing the mortgage industry. The industry fears AI will ultimately replace everyone, from operations to loan officers. As a loan officer , I am not losing any sleep, and here is why you should not, either. Absolutely not.I