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Mortgage brokers have apparently reclaimed both their reputations and their market share in recent years according to Archana Pradhan, a risk management analyst for CoreLogic. She writes in the company's blog that brokers' share of the conventional conforming mortgage market hit 16 percent earlier this year. While this is only half its share before the housing crisis when it accounted for about one-third of originations, it has doubled since 2011. Mortgage brokers' reputation for loan quality took a substantial hit during and immediately after the crisis as foreclosure rates jumped. Their market share began to slip in 2008 as some lenders stopped offering credit through this channel. It had fallen to 7 percent by 2011. Now that their business is returning, Pradhan says their loans are performing
Housing News
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Mortgage brokers have apparently reclaimed both their reputations and their market share in recent years according to Archana Pradhan, a risk management analyst for CoreLogic. She writes in the company's blog that brokers' share of the conventional c... (read more)
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Housing News
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Applications for mortgages to purchase newly constructed homes surged in October and the Mortgage Bankers Association (MBA) is expecting that sales will follow suit. MBA's Builder Application Survey (BAS) shows those applications rose 9 percent from ... (read more)
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Rob Chrisman
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A new analysis from the real estate brokerage firm Redfin shows the typical homeowner in the United States now stays in their house for 13 years, five years more than they did in 2010. This lack of movement, especially among aging baby boomers, has h... (read more)
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MBS Commentary
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Bonds are on a roll at the moment with 5 of the last 6 trading days resulting in lower yields. Rather than stand as some evidence of new strength in the bond market, this has more to do with technical correction as more than 60% of the trading ... (read more)
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Housing News
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Despite the Veterans' Day holiday which shortened the work week of November 15, purchase mortgage applications gained momentum. The Mortgage Bankers Association said its Purchase Index rose 7 percent on a seasonally adjusted basis during the week alt... (read more)
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Mortgage Rate Watch
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Mortgage rates are in the midst of a winning streak of moderate size and duration. Specifically, rates have improved by at least an eighth of a percentage point for the average lender since the beginning of last week and have moved lower on all but o... (read more)
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