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As home sales slow, luxury market’s in the eye of the beholder | WilmingtonBiz

BrokerOwner.net March 10, 2023

(Photo courtesy of Intracoastal Realty Corp.) Luxury home sale numbers slowed in February, dropping to their lowest point in more than two years, …

San Antonio TX Housing Market | Bankrate

BrokerOwner.net March 10, 2023

If you’re interested in buying or selling property in the city, here’s what to know about its real estate market.

Home equity is the bright gem of the housing market

BrokerOwner.net March 10, 2023

Stubborn inflation and high interest rates continue to wreak havoc on the mortgage-origination market, but there is one asset class in the housing market that is arguably flourishing in these hard times – home equity. Along with the solid base of home equity that now exists — a byproduct of the

FTC sues to stop ICE-Black Knight merger, says it would “drive up costs”

BrokerOwner.net March 9, 2023

The Federal Trade Commission (FTC) on Thursday sued to block the proposed $13 billion merger between Intercontinental Exchange Inc. and rival mortgage software firm Black Knight. The merger would give ICE and Black Knight a significant position in the market for loan origination software, which it could use to push

Fannie Mae rumored to be looking at forgoing title insurance

BrokerOwner.net March 9, 2023

The title insurance industry is often bemoaned for being antiquated and making minimal changes, but that has not been the case for the past 12 months. Nearly a year after announcing that it would begin accepting attorney opinion letters (AOLs) in lieu of title insurance in limited circumstances, Fannie Mae

LoanCare to implement Black Knight loss mitigation solution

BrokerOwner.net March 9, 2023

Black Knight, Inc. on Thursday announced that mortgage loan sub-servicing provider LoanCare will implement the Black Knight Loss Mitigation solution to support homeowners in need of mortgage payment assistance programs. LoanCare, which services loans for banks, credit unions, independent mortgage companies and portfolio investors, also renewed its contract for Black

Mortgage rates climb as Fed signals more aggressive rate hikes

BrokerOwner.net March 9, 2023

Federal Reserve Chairman Jerome Powell sent a clear message during his U.S. Senate speech on Tuesday morning: Fed officials are likely to deliver higher rate hikes than previously expected to combat persistent inflation. “As I mentioned, the latest economic data have come in stronger than expected, which suggests that the

Home Point is shrinking but still losing money

BrokerOwner.net March 9, 2023

Like most of its publicly traded peers, Home Point Capital, the parent company of wholesale lender Homepoint, shrank in 2022 to adapt to a shrinking mortgage market. But its cost-cutting initiatives were not enough to return the lender to profitability. The possibility of Home Point being sold isn’t out of the

FHA publishes final rule on the 40-year loan modification

BrokerOwner.net March 9, 2023

The Federal Housing Administration (FHA) announced this week that a final rule related to an increased 40-year loan modification term has been published in the Federal Register. The rule allows mortgagees to increase the maximum term of an FHA-insured mortgage loan modification from 360 to 480 months following a default.

China’s February home sales spike in Shanghai, Beijing, Shenzhen as eager buyers …

BrokerOwner.net March 9, 2023

Sales shot up in Beijing, Shanghai and Shenzhen in February as buyers shrugged off hesitancy, with the lived-in market proving particularly hot.

CFPB outlines issues with illegal ‘junk fees’ by mortgage servicers

BrokerOwner.net March 8, 2023

The Consumer Financial Protection Bureau (CFPB) on Wednesday released a special edition of its Supervisory Highlights report that profiles “unlawful junk fees uncovered in deposit accounts and in multiple loan servicing markets,” including among mortgage servicers. “For years, junk fees have been creeping across the economy,” said CFPB Director Rohit

Purchase sentiment dips due to job security, home-selling concerns

BrokerOwner.net March 8, 2023

Homebuyers and sellers are being cautious due to current market conditions, as indicated by Fannie Mae‘s home purchase sentiment index (HPSI). The HPSI — which tracks the housing market and consumer confidence to sell or buy a home — decreased 3.6 points in February to 58.0, breaking a streak of