News

Pending home sales hit second highest point in decade

West led the nation in July
Pending home sales increased in July led by high gains in the West, which hit its highest month in more than three years. There is, however, still room for more growth. There’s little doubt there’d be more sales activity right now if there were more affordable listings on the market. Click the headline to read more.
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Mid America Mortgage to correspondent lenders: We'll buy your eNotes

Recent survey showed dearth of willing investors in digital mortgages
A recent survey conducted by Fannie Mae and Freddie Mac showed that one of the obstacles preventing the mortgage industry from going fully digital is a lack of investors willing to buy digitally created mortgages. But now, there’s one more investor willing to buy a digital mortgage note.
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Hillary Clinton reportedly adds former CFPB assistant director Rohit Chopra to transition team

Politico: Outspoken critic of student loan debt issue set to join Clinton's team
Hillary Clinton, the former Secretary of State and current Democratic nominee for president, is adding one of Sen. Elizabeth Warren’s close allies and a former executive at the Consumer Financial Protection Bureau to her transition team as she prepares for the coming election.
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MBA: Acquisitions will heat up over next 2 years

Moving towards more consolidated market
The Mortgage Bankers Association’s chief economist explains why there is an increasing trend in mergers and acquisitions, and what will happen in the next two years. One major factor could be holding up profitability in 2016, but it won’t stay that way for long.
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Fed continues to send signals on looming interest rate hike

So, what does it mean for the mortgage market?
It appears that the Federal Reserve is continuing its tact of jumping through as many hoops as possible to prepare the market for the potential of another rate hike. So, what happens to the mortgage market whenever the Fed actually does raise rates? Here are a few insights.
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Independent mortgage bank profits surge, more than double 1Q

What TRID impact?
Not only did the industry recover from the financial storm caused by TRID, but looking at the latest mortgage banker profit results for the second quarter of 2016, it’s almost like it never existed. This is good news for independent mortgage banks and mortgage subsidiaries of chartered banks as profits surge to new highs. Are you seeing the same trends and growth in your business?
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