The Senate Banking Committee has canceled a mark-up of a Federal Housing Administration reform bill after key Republicans complained about the process and wanted more time to work on the bill.A sudden push by committee Chairman Christopher J. Dodd, D-Conn., to mark up an FHA bill on Wednesday did not sit well with several Republican members, according to sources. They said the objections centered "more on process than substance" regarding the FHA bill Sen. Dodd put together with Sen. Mel Martinez, R-Fla. FHA reform supporters say they expect the senators to return from their August recess and approve a bill in September. The House Financial Services Committee has already approved an FHA reform bill.
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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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