Stewart Title Acquires Elite Family of Companies

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In: Mortgage News

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Stewart Title is resuming its acquisition strategy. The Elite Family of Companies was acquired, according to a Tuesday announcement from the smallest of the Big Four title insurers. The acquisition’s financial information was kept under wraps. Elite Land Title, LLC,Continue Reading

Fannie Mae Home Purchase Sentiment Index Rises in December But Affordability still A Big Challenge In 2023

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In: New Home Mortgage News

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However, it is still far below pre-pandemic highs, according to new Fannie Mae data. The sentiment of prospective homebuyers’ purchases slightly improved in December.  According to Fannie Mae, persistent affordability issues will prevent buyers from entering the market in 2023,Continue Reading

Realtor.com Announces Enhanced Listing Intelligence

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In: Realtor News

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On Tuesday, Realtor.com announced the addition of “enhanced listing intelligence features” to its website, which can offer real estate agents predictive insights. According to a news release from the company, the improved listings can help agents “demonstrate their value andContinue Reading

Silvergate Cuts Workforce by 20% in the Fourth Quarter of 2022

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In: Mortgage News

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Silvergate Capital Corporation, the parent company of Silvergate Bank, which serviced Sam Bankman-Fried’s now-defunct cryptocurrency empire, is shutting down its mortgage business and cutting 20 % of the workforce as customers invested $8.1 billion in cryptocurrency-related deposits. Silvergate’s preliminary fourth-quarterContinue Reading

Mortgage Rates Move With the Bond Market

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In: Mortgage News

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Fed officials said this week that despite some signs of improvement, it was too early to declare victory in the battle to return inflation to the 2% target.  This may dampen optimism about the rapid recovery of the mortgage sector. Continue Reading

A&D Mortgage Launches Temporary Rate Buydown Programs

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In: New Home Mortgage News

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A&D Mortgage recently launched a new Temporary Interest Repurchase Program, a new product designed to provide borrowers with more flexible home financing options. A&D said the temporary interest buyback program is ideal for borrowers who have the opportunity to earnContinue Reading

PrimeLending Sues First Community Mortgage For Poaching

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In: Mortgage News

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Texas-based PrimeLending is suing its direct competitor, First Community Mortgage, Inc. (FCM) claiming to have looted its talent pool.  According to a lawsuit filed on Dec. 20 in a Tennessee district court, First Community Mortgage, Inc. (FCM) PrimeLending’s Central AmericanContinue Reading

Rocket Mortgage Launches Purchase Plus Program

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In: Mortgage News

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Rocket Mortgage, a Rocket Companies (NYSE: RKT) company, today launched Purchase Plus, a special purpose loan program designed to increase homeownership in underserved communities.  The new program offers first-time home buyers a loan of up to $7,500 to cover homeContinue Reading

S&P CoreLogic Case-Shiller Index: Home Prices Fall 0.5% From September

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In: New Home Mortgage News

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Last updated on January 30th, 2023 at 10:49 pmHome prices fell 0.5% from September, according to the S&P CoreLogic Case-Shiller index, marking the fourth straight month of seasonally adjusted home price declines in the 20 largest cities. Markets began toContinue Reading

Is a Repossessed Home a Good Investment?

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In: New Home Mortgage News

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If you’re looking to buy a home, you might be wondering if repossession is a good investment. Here’s what you need to know. What is redemption? Properties are repossessed when owners default on their mortgages. If the owner fails toContinue Reading