The Foreclosure-gate scandal appears to be having a real effect on loan closings — at least for some mortgage bankers. John Walsh, CEO of Total Mortgage Services in Milford, Conn., told us the other day that Connecticut's 60-day moratorium on foreclosure sales has caused his firm to scuttle closings scheduled for last week and this week. "The unintended consequence of this is that some people won't get to buy houses," he said. "This is not a good situation," he told us. Walsh said Connecticut is the only state to issue a moratorium on foreclosure-related home sales…
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The promotion offers rate cuts as much as 25 basis points on new-home purchases as well as rate-and-term and cash-out refinance loans from May 4 through May 17.
2h ago -
"In looking at eight currently available proprietary RM products, there is a distinct relationship between HECM growth rates and proprietary product availability," Reverse Market Insight said.
3h ago -
The top bullet point in Two Harbors' rejection notice is the Mizuho credit facility does not constitute committed financing for UWM to pay for the deal.
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The combination adds to a wave of broader merger and acquisition activity that includes an ongoing bidding war over RoundPoint Mortgage owner Two Harbors
May 4 -
The litigants, with some of the industry's deepest pockets, may be filing the rare cases to flag and potentially punish bad brokers, one expert said.
May 4 -
Market watchers think Jerome Powell will maintain a low-key presence on the Fed board as he awaits the release of an inspector general report examining cost overruns at the central bank's headquarters.
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