In case you missed the story on the National Mortgage News website, here's a headline for you: Some firms have the ability to make $10,000 per loan on HARP 2.0 loans. A nice chunk of that profit estimate is tied to secondary market pricing. In short, Wall Street investors believe that HARP 2.0 loans have a very low likelihood of prepaying. Why? Answer: because the borrower is underwater or nearly so, but chances are he or she will keep paying, hence the secondary market premium. But another hitch is underwriting. We're told that some megabanks cranking out HARP loans are basically rubberstamping them – which means they're saving a ton of money on underwriting costs. As the old saying goes: make hay while the sun shines.
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While existing home sales aren't measured in GDP, many of the things which come along with it are, and those are likely to start trending down, First American said.
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While foreclosure numbers in the first six months of this year were up compared to 2024, starts eased as the spring progressed, according to Attom.
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The merger of the firm's lending arm and Figure Markets is a reaction to a thawing regulatory environment.
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The legislation is a direct response to HUD's effective elimination of the PAVE task force and comes amid ongoing debates over DEI policies in the federal government.
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The Indiana loan officer was previously sued by Ruoff Mortgage for fraudulent originations it estimated would cost the company over $1 million to repurchase.
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The new arrangement will allow Blend customers to have access to Doma's artificial intelligence-powered instant decisioning title insurance technology.
July 18