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Mortgage Brokers

Welcome to the special Real Estate Industry Bulletin for Mortgage Brokers.

Fannie Mae July mortgage portfolio up 4.1% from year earlier, prices two-year deal

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Fannie Mae July mortgage portfolio up 4.1% from year earlier, prices two-year deal

Fannie Mae’s mortgage portfolio through July is up 4.1% from the year ago yet down somewhat from June, and the GSE issued nearly half the mortgage-backed securities during the month than in did last July. Fannie ended July with gross holdings of nearly 2 billion. That figure stood at 0.4 billion last year and...
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Q2 real GDP revised down to 1.6% annualized growth rate

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Q2 real GDP revised down to 1.6% annualized growth rate

From the BEA: Gross Domestic Product, 2nd quarter 2010 (second estimate) The following table shows the changes from the advance release (this is the Contributions to Percent Change in Real Gross Domestic Product). The largest downward revisions were to the change in private inventories, imports, and non-residential structure investment. Personal consumption expenditures and investment...
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MBA: Mortgage refinance activity increases, Purchase activity flat

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MBA: Mortgage refinance activity increases, Purchase activity flat

The MBA reports: Mortgage Refinance Applications Continue to Increase as Rates Decrease The Refinance Index increased 5.7 percent from the previous week and is at its highest level since May 1, 2009. The seasonally adjusted Purchase Index increased 0.6 percent from one week earlier.…“The volume of refi applications last week was up 26% over...
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Will you still be writing loans this time next year?

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**Don’t miss the VIDEO below–and start making more appointments!** For most mortgage brokers, the old ways of doing business are dead. Sure, some “top dog” brokers in some markets are carrying on like always, seemingly immune to the downturn that has turned the real estate world upside down. But they’re the exception. (Although a...
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Monday Morning Cup of Coffee

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Monday Morning Cup of Coffee

A look at stories across HousingWire’s weekend desk…with more coverage to come on bigger issues: The Office of the Comptroller of the Currency (OCC) released Friday a list of  Community Reinvestment Act (CRA) performance evaluations for 39 national banks and insured federal branches of foreign banks. Of the banks, nine received an outstanding rating,...
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Congress Pushes for Judicial Action Against Fraud Used to Shift Loss onto GSEs

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Congress Pushes for Judicial Action Against Fraud Used to Shift Loss onto GSEs

Letters from members of Congress released Friday urged President Obama and the Federal Housing Finance Administration (FHFA) to use aggressive administrative power to recover money from companies that used fraudulent and deceptive practices to shift losses on to Fannie Mae and Freddie Mac. Congressman Barney Frank (D-MA), Chairman of the House of Financial Services,...
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Real Estate Investing Tips

Real Estate Investing Tips

Real estate investing makes people think of money.  You will see a lot of good reasons for this.  Real estate is something that is only available in limited quantities.  After all, manufacturing more land is impossible.  As a result, real estate is nearly universally thought to be a sound investment. However, it must be...
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Interthinx: Mortgage Fraud Risk Index Decreases from Q110, Still Above Q209

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Interthinx: Mortgage Fraud Risk Index Decreases from Q110, Still Above Q209

Mortgage fraud risk decreased slightly in the second quarter of 2010, but is still substantially higher than it was a year ago, according to a quarterly Mortgage Fraud Risk Report released Tuesday by Interthinx. The risk research and analytics firm reported the National Mortgage Fraud Risk Index for Q210 at 145, down 3% from...
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One Year Supply of Houses? and other stuff

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One Year Supply of Houses? and other stuff

First on housing … When the July existing home sales data is released, will we see 12 months of supply? Double-digits supply is a given. The high for this cycle was 11.2 months back in 2008, and based on preliminary reports, I think a new high is very likely and 12 months of supply...
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Mortgage Cadence Taps Investment Partner

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Mortgage Cadence Taps Investment Partner

Loss mitigation technology, lending solution and document services provider Mortgage Cadence is partnering with an investor to help fund the expansion of its product offerings. The company tapped Monitor Clipper Partners to provide an undisclosed amount of capital as a strategic partner. "The driving force behind Monitor Clipper Partners' decision to invest in Mortgage...
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