A "Borrow With Confidence" homebuyer education campaign has been unveiled in Franklin, Tenn., by Fannie Mae, the Tennessee Association of Realtors, the Williamson County Association of Realtors, and Rep. Marsha Blackburn, R-Tenn.Fannie Mae said BWC "puts Realtors at the forefront of preventing unwarranted high-cost lending," through a multifaceted education campaign that it says will ultimately help homebuyers get the best mortgage financing they qualify for and expand homeownership opportunities throughout middle Tennessee. The campaign was first introduced last year in Texas by the National Association of Realtors. "Realtors have the closest professional relationship with the local homebuyer and are often the primary source of information for consumers when shopping for a mortgage," said Sandra Gilley, president-elect of TAR. "Now TAR members can help homebuyers obtain competitive rates appropriate to the buyer's credit qualifications." BWC will help Realtors promote consumer awareness about seeking out responsible lenders, educate them about the mortgage process, and ensure that Realtors know about low-cost flexible mortgage loans and are committed to offer competitive rates.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
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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.
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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.
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The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
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Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
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