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Credit Approvals Decrease, Rejection Rates Up

Credit Approvals Decrease, Rejection Rates Up

Monday, 03 December 2018
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There was a decline in consumer applications for credit over the past 12 months, and an increase in rejection rates in 2018, compared with 2017. That was expected given the decline in demand due to higher mortgage interest rates, the share of respondents who applied for a mortgage refinance during the past year was lower… Read more...
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LoanStreet Closes $6.5M Funding Round

LoanStreet Closes $6.5M Funding Round

Thursday, 29 November 2018
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LoanStreet Inc. has closed a $6.5 million funding round, bringing total investment in the company to $9 million. This round was led by Valar Ventures, with participation from Third Prime Capital, Rosecliff Ventures, Ride Ventures, The Gramercy Fund and other notable investors. LoanStreet is the first fully-integrated online platform that streamlines the process of sharing,… Read more...
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Housing Prices Cooling

Housing Prices Cooling

Friday, 30 November 2018
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The housing market showed signs of cooling in many of the nation's largest metros this month with inventory increases outpacing the rest of the country, listing prices slowing and price cuts increasing. In contrast, smaller, more affordable markets continued to see price gains, according to the November housing report from Realtor.com. During the month of… Read more...
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Redfin: Luxury Home Prices Increase

Redfin: Luxury Home Prices Increase

Thursday, 29 November 2018
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Luxury home prices rose 3.2 percent year over year to an average of $1.7 million in the third quarter of 2018, according to Redfin. This is the lowest growth rate since the fourth quarter of 2016, when prices were up 1.1 percent from a year earlier. The Redfin analysis tracks home sales in more than… Read more...
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Rates Continue to Rise, Notes FHFA

Rates Continue to Rise, Notes FHFA

Thursday, 29 November 2018
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Interest rates on conventional purchase-money mortgages increased from September to October across the U.S., according to several indices of new mortgage contracts from the Federal Housing Finance Authority . The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 4.75 percent for loans closed in late October,… Read more...
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Ellie Mae Lands CFO

Ellie Mae Lands CFO

Tuesday, 27 November 2018
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Ellie Mae has selected Dan Madden to serve as executive vice president and chief financial officer. “I am excited to join Ellie Mae at such a pivotal time for the company,” said Madden. “Ellie Mae has been an industry leader for two decades and I’m thrilled to join the seasoned team as we continue on… Read more...
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Will Negative Economic Trends Continue?

Will Negative Economic Trends Continue?

Wednesday, 28 November 2018
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It’s too soon to know if the current negative trends, such as limited housing supply and the effect of higher rates, which have defined the mortgage market in 2018 will continue into next year. On the other hand, it is possible that the market will adjust and resume modest growth, according to the November Forecast… Read more...
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Good News on Delinquencies

Good News on Delinquencies

Wednesday, 28 November 2018
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Mortgage delinquencies fell by 8.2 percent in October are now down by nearly 18 percent from the same time last year. Serious delinquencies, loans 90 or more days past due, fell by 14,000 from last month, and 90,000 year over year, a 12-year low. Improvements in hurricane-related delinquencies associated with Harvey and Irma, which spiked… Read more...
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NAR Supports FHFA Loan Level Increases

NAR Supports FHFA Loan Level Increases

Monday, 26 November 2018
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The National Association of Realtors supports the FHFA’s decision to increase the loan limit on conforming loans to $484,350 in 2019, from $453,100. In addition, the high-cost limit will rise to $726,525, from $679,650. As a result, loan limits will be higher in all but 47 counties or county equivalents across the country beginning on … Read more...
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FHFA: House Prices Increase 1.3%

FHFA: House Prices Increase 1.3%

Tuesday, 27 November 2018
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House prices rose 1.3 percent in the third quarter of 2018, according to the Federal Housing Finance Agency House Price Index. House prices rose 6.3 percent from the third quarter of 2018 to the third quarter of 2017. FHFA's seasonally adjusted monthly index for September was up 0.2 percent from August. The HPI is calculated … Read more...
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