Fraud risk on purchase mortgages climbs for the first time since March

For the first time since March, First American’s Loan Application Defect Index indicates the nation’s mortgage defect risk increased, but only for purchase mortgages. According to the company, the Defect Index for purchase transactions increased by 2.7% in November compared with October, while the Defect Index for refinance transactions fell by 1.6%.

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Can your employees define why they work for you?

It doesn’t matter if you’re looking at the entire job market or just mortgage finance, competition is extremely high for top talent. With the U.S. unemployment rate sitting around a 50-year low, employers need to stop letting their company culture operate on autopilot. If you asked your employees today to

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Pending home sales rise 1.2% in November after October’s decline

Reversing course from October’s decline, the National Association of Realtors indicates the nation’s pending home sales increased in November. During the month, the Pending Home Sales Index, a forward-looking indicator based on contract signings, increased to 108.5, rising from October’s 106.7. According to NAR, contract signings increased by 1.2% from last month’s

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Countdown: Our most popular articles in 2019 (6-10)

From low mortgage rates to higher appraisal thresholds, 2019 was an interesting year in the world of housing. In honor of that, we compiled a list of the top 10 most-read articles that HousingWire published this year. This is a two-part series, so for now, here is the first half

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USMCA trade deal may ease housing shortage

The U.S.-Mexico-Canada Agreement passed by the House of Representatives will help to ease the nation’s housing shortage by stabilizing the prices of materials used in construction, according to the National Association of Home Builders. The new trade pact was approved on Dec. 19 with a 385 to 41 bipartisan vote.

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AI has not made an impact in construction, yet

This year saw a shortage of housing inventory among other shortages in the construction industry, but it appears homebuilders are beginning to move towards utilizing new technology to address these issues. According to the National Association of Home Builders, 3D printing and robots have entered the housing construction market, but

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Housing Headlines: HomeSafe, Redfin, and NterNow

Housing Headlines takes a look at the latest news in housing, real estate, fintech, and beyond; featuring new product updates, launches, expansions, integrations, announcements, and more. Finance of America Reverse, a reverse mortgage originator, announced it has made enhancements to its suite of HomeSafe products. The enhancements bring a level

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These were the hottest neighborhoods of 2019

It’s been clear for quite some time that there’s a serious shortage of available housing on the market. In fact, the most recent data suggests that inventory is 30-40% lower than it would be in a healthy housing market. And that shortage of houses available for sale is leading to

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Average U.S. salary reaches record high

The average annual U.S. salary for full-time workers rose to a record high of $69,181 in November, according to the Federal Reserve Bank of New York. That’s up 3.4% from the from $66,012 a year earlier, according to the bank’s Labor Market Survey. Income gains are picking up steam in

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