The re-election of President Bush and GOP gains in the House and Senate have increased the likelihood that legislators will pass meaningful GSE reforms next year.According to industry officials, election gains by the Republicans will make it more difficult for Fannie Mae and Freddie Mac to fend off unwelcome provisions when government-sponsored enterprise reform legislation is introduced early next year. Industry lobbyist Jim Butera predicted that passage of a GSE bill is a "near certainty" next year. Mr. Butera forecast that it will be "the No. 1 bill coming out" of the House and Senate banking committees. Meanwhile, at MortgageWire's deadline, Fannie's stock was down 3%, Freddie's 2%. Industry consultant Bert Ely said the stock market is interpreting Mr. Bush's victory as a negative. Mr. Ely also predicted that the administration might "actually begin" to limit the GSEs' debt issuances.
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Higher costs than expected, not just for the mortgage but for repairs and more, have recent buyers' regretting their purchase, Clever RE and Redfin found in separate reports.
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New guidelines regarding buy-side and sell-side real estate agent compensation are set to go into effect this summer.
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Affordability challenges also have some aspiring homeowners taking second jobs or looking to draw from retirement savings, according to Redfin.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
March 28 -
Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
March 28 -
Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
March 28