Next year, Ginnie Mae plans to expand the electronic reporting of data from servicers and issuers of its securities."In 2006, Ginnie Mae will be significantly changing the way we collect data from you," said Mike Garcia, director of single-family housing at Ginnie Mae. Speaking at the Western States Loan Servicing Conference sponsored by the California Mortgage Bankers Association, Mr. Garcia said the electronic reporting initiative would require issuers to report data earlier than they do today and would make it easier to correct inconsistencies in loan data.
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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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