Freddie Mac: Mortgage market soaring in 2016, will fall back in 2017

Time to get while the getting's good
Freddie Mac continues to believe that mortgage lending is on track for a big year this year, but now expects the market to tap the brakes in 2017. But it won’t be purchase mortgage originations that will drag down 2017’s origination total, as purchase and home improvement mortgage activity is actually expected to rise next year. According to the Freddie Mac report, next year’s drop will be driven by a significant decline in refinances.
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Trulia: Buying a home still cheaper than renting

Price to rent still outpaces rising home prices
Trulia’s new study shows that despite rising home prices, it is still cheaper to buy a home than to rent. While there’s talk about a rate hike this year, Trulia explains why potential homebuyers shouldn’t be concerned.
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Banks repositioning mortgages for long-term success

New strategies to improve operational efficiencies and reduce risk
Few could have predicted the full impact of the mortgage industry changes the last eight years, and many leading lenders and servicers have struggled with compliance and profitability. Even with initial assumptions of economy normalization and regulatory modifications banks are still considering new strategies to improve operational efficiency and reduce risk.
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Game changer: California investigating Wells Fargo for identity theft

Could lead to charges against former employees who opened fake accounts
A group of senators is already asking the Department of Justice to use a new policy to target individuals at Wells Fargo for corporate misconduct (and maybe even more) in the wake of the fake account scandal surrounding the bank. But the state of California is making a move that could lead to a whole new world of hurt for Wells Fargo, its current and former executives, and the 5,000 former employees who opened the fake accounts.
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First American Mortgage Trust to pay $1 million for FHA lending violations accused of knowingly submitting false claims for FHA insurance
First American Mortgage Trust, which does business as, and the company’s CEO will pay slightly more than $1 million to settle charges brought by the Department of Justice, which accused the lender of submitting false claims on mortgages insured by the Federal Housing Administration.
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When it comes to Millennial homebuyers, time really is money

And words are your bond
To some degree, the Millennial homebuyer market, especially the first-time homebuyer, must seem like the Holy Grail or a unicorn herd to mortgage lenders. It’s a large segment with an estimated purchasing power of about $200 billion. So what does this mean for those seeking to sell mortgage loans to Millennials?
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