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Mortgage Refinance Applications Surge 9 Percent as Rates Fall Back
CNBC, Dec. 6, 2017--Diana OlickInterest rates on home loans are now significantly lower than a year ago and that may be bringing more homeowners back to their lenders to refinance. "The refinance share is at its highest level since September," Mortgage Bankers Association Chief Economist Mike Fratantoni said.
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Tax Servicing an ‘Intricate Part of the Loan Servicing Industry’
Mortgage Orb, Dec. 6, 2017--Marcus Balocca, John PermejoTax servicing is a complex but important part of loan servicing. There are more than 24,000 tax agencies or taxing authorities across the country and U.S. territories, each with their own rules, processes and guidelines for providing tax information and collecting and processing tax payments.
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Cuts to Homeowner Tax Breaks Could Cost Republicans in 2018 Races
Reuters, Dec. 6, 2017--Sharon Bernstein, Howard SchneiderThousands of homeowners in Republican-leaning areas could be hit by the elimination or reduction of tax breaks for homeowners, a Reuters analysis of federal mortgage and tax data shows, potentially opening those districts to a Democratic challenge in the November 2018 mid-term elections.
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Loan Size Differs by Gender Among Millennials: Ellie Mae
National Mortgage News, Dec. 6, 2017--Bonnie Sinnock (subscription)Men listed as the primary borrower on a mortgage on average get approved for larger-balance loans than women, Ellie Mae finds in its latest Millennial Tracker survey.
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Jumbo, Reverse and Nonprime RMBS Issuance to Rise
Mortgage Daily, Dec. 6, 2017Issuance of residential mortgage-backed securities filled with jumbo mortgages, nonprime loans and reverse mortgages is forecasted to rise next year, while credit standards are likely to ease, said Moody's Investors Service.
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U.S. Comptroller Halts Plan to Remove In-House Bank Examiners
Reuters, Dec. 6, 2017--Pete SchroederBank examiners can continue working inside the banks they supervise, Comptroller of the Currency Joseph Otting said on Wednesday, in a policy reversal for the U.S. banking regulator.
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Lender Competition Heats Up for Refi Deals
National Real Estate Investor, Dec 6, 2017--Beth Mattson-Teig Lenders are being aggressive on bids to win refinancing business, especially for high quality assets.
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Servicing Expands, Origination Up at Caliber
Mortgage Daily, Dec. 6, 2017Quarterly mortgage originations increased at Caliber Home Loans Inc., as did the size of its servicing portfolio. But the company reduced its payroll by nearly 200 people.
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Homebuying Doesn’t Hinge on the Mortgage Tax Break
Bloomberg, Dec. 7, 2017--Joe Light, Prashant GopalThe $64 billion mortgage-interest deduction has long been touted as fuel for U.S. homeownership. Yet as the real estate industry fights the Republican tax plan that's set to diminish its use, finding economic supporters of the perk is tough, even among affordable-housing advocates.
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Influential Mortgage Players Demand Affordable Housing Measures from Tax Reform
HousingWire, Dec. 6, 2017--Kelsey RamirezA group of mortgage industry experts sent a letter to the House Wednesday, demanding Congress include affordable housing measures in its tax reform.
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Breaking Down Hensarling’s GSE Reform Overture
National Mortgage News, Dec. 6, 2017--Rob Blackwell, Ian McKendry (subscription)House Financial Services Committee Jeb Hensarling shifted tactics on housing finance reform Wednesday, acknowledging that a bill he's pushed for years to virtually eliminate the government's role in the mortgage market lacks the support to become law.
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ADP Predicts Employment Increase of 190,000 in November
HousingWire, Dec. 6, 2017--Kelsey RamirezJob growth will slow in November to an increase of 190,000 new jobs, according to the ADP and Moody's Analytics National Employment Report.
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MBA Recognizes Select Members
MBA recognizes its Premier and Select Associate Members and thanks them for their continued support of MBA and the real estate finance industry.
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