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MBA: 3Q Mortgage Production Volume Spurs Strong IMB Profits
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $5,535 on each loan they originated in the third quarter, up from $4,548 per loan in the second quarter, the Mortgage Bankers Association reported Thursday in its Quarterly Mortgage Bankers Performance Report.
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MBA: Share of Loans in Forbearance Flat at 5.54%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance remained unchanged from the prior week at 5.54% as of November 29. MBA estimates 2.8 million homeowners are in forbearance plans.
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Hotel Sector Recovery Slows
The hotel sector recovery has slowed in recent months after rebounding in the fall from April lows, said Fitch Ratings, New York.
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FHA Follows Suit, Raises Single-Family Loan Limits for 2021
As expected, the Federal Housing Administration matched Fannie Mae and Freddie Mac in its single-family and Home Equity Conversion Mortgage insurance programs for 2021.