By a significant margin, responses to our recent survey question about the merger between the Mortgage Bankers Association and the National Home Equity Mortgage Association said the merger will be good for the industry.The final tally was 140 saying the merger will be good, and 89 saying it won't. (The nay votes ballooned to more than 600 on Oct. 22, when 537 nays from a single computer were recorded in a matter of five minutes, according to NMN's webmaster. All but one of those nay votes were subtracted from the final tally.) Check out the latest survey question in the left column of the NMN home page.
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The latest government-sponsored enterprise changes include a more flexible sampling and a longer maximum term for some manufactured housing loans, respectively.
7h ago -
The product preserves borrower's first mortgage, and its potentially lower mortgage rate, without requiring the new monthly payments of a traditional HELOC, FOA says.
8h ago -
The White House's proposed 2027 budget would slash funding to the Community Development Financial Institutions Fund, the latest in an ongoing campaign from the Trump administration to dismantle the politically popular program.
10h ago -
Mortgage rates rising nearly 40 basis points from early-year lows have pushed some buyers out of the market, even as inventory and affordability remain better than a year ago, ICE Mortgage Technology found.
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Lawsuits and probes are ramping up, and some courts have broadened the lending law's statute of limitations, said Bradley Partner Jonathan Kolodziej.
April 6 -
New jobs in health care largely drove the gains, while the federal workforce and finance continued to shrink.
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