The Homeownership Alliance of Nonprofit Downpayment Providers has invited mortgage bankers to attend its fall membership meeting, which is being held in conjunction with the annual convention of the Mortgage Bankers Association of America.In a recent letter, HAND chairman Joel S. Pate invited mortgage bankers to the Oct. 19 meeting at the San Diego Marriott Hotel & Marina to "begin a productive dialogue" about how to boost the U.S. homeownership rate. "Even as loan originations begin to trend downward, our members expect to generate a larger proportion of the total loan output," Mr. Pate said. "That is because our concept has created a new pool of buyers who previously were unable to acquire a home simply because they lacked the downpayment funds." HAND, which was formed about a year ago, requires members to offer homebuyer education and default management programs to their beneficiaries.
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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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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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