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Higher Interest Rates Send Weekly Mortgage Applications Tanking 10%
CNBC, Sept. 25, 2019--Diana OlickHigher rates over the last two weeks send mortgage applications into a slide, according to the Mortgage Bankers Association. Applications to refinance a loan, which are highly rate-sensitive, fell 15 percent for the week. Purchase mortgage applications fell 3 percent for the week but were a solid 9 percent higher than a year ago.
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Mortgage Fraud Risk Plummets Amid A Drop In Interest Rates
Forbes, Sept. 25, 2019--Brenda RichardsonAfter steadily increasing since late 2016, mortgage fraud risk plummeted by the end of the second quarter of 2019 thanks to lower interest rates that ushered in an influx of low-risk refinance transactions, according to a new report by data and analytics provider CoreLogic. The market also benefited from homes being bought by iBuyers.
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New York Fed Boosts Size of Repurchase Operations
Wall Street Journal, Sept. 25, 2015--Daniel Kruger (subscription)The Federal Reserve Bank of New York said Wednesday it would increase the size of scheduled operations to provide short-term cash loans to financial firms.
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Most First-Time Homebuyers Said Process Tougher Than It Should Be
National Mortgage News, Sept. 25, 2019--Brad Finkelstein (subscription)More than half of recent, as well as prospective, first-time homebuyers said purchasing a house was more difficult than it should be, according to a survey for Framework, an organization that assists new homeowners.
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Fitch: End of QM Patch Could Drive RMBS Losses
HousingWire, Sept. 25, 2019--Kelsey RamirezHigh loan-to-value loans could drive losses in residential mortgage backed securities as the Qualified Mortgage Patch expires, according to a new report from Fitch Ratings.
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Recognizing Women’s Voices in Mortgage
DSNews, Sept. 25, 2019--Seth WelbornFive Star honored the mortgage industry's female leaders Wednesday at the Keystone Awards at the Women in Housing Leadership Banquet. This year, the banquet was a joint presentation of Five Star and mPower, the Mortgage Bankers Association's organization dedicated to advancing and supporting women professionals.
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