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Author Archives: Tory Barringer

Tory Barringer began his journalism career in early 2011, working as a writer for the University of Texas at Arlington's student newspaper before joining the DS News team in 2012. In addition to contributing to DSNews.com, he is also the online editor for DS News' sister publication, MReport, which focuses on mortgage banking news.

Credit Challenges Continue for Self-Employed Borrowers

In a study of borrower profiles and lender behaviors, Zillow found that self-employed loan applicants receive only six loan quotes for every 10 received by non-self-employed borrowers. That's even worse than in June 2011, when the ratio was seven for every 10.

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Finalized MI Requirements to Land in Coming Months

Months after the Federal Housing Finance Agency (FHFA) first unveiled a rule establishing eligibility requirements for private insurers, the agency informed some of the nation's top firms it doesn't plan to release a finalized rule until close to the end of Q1 2015 or later, according to an announcement from U.S. Mortgage Insurers (USMI).

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Mortgage Rates Fall to Lowest Point Since May 2013

The average interest rate for a 30-year fixed-rate mortgage fell to 3.89 percent for the week ending December 4, Freddie Mac reported Thursday in its Primary Mortgage Market Survey. According to the company, it was the lowest average 30-year rate recorded since the end of May last year.

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Mortgage Bank Profits Down Despite Increased Production

Home lenders took in an average profit of $897 on each loan they originated over Q3, the Mortgage Bankers Association (MBA) said Thursday. That average was down from $954 in the second quarter but still a vast improvement from an average per-loan loss of $194 in the first quarter.

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New Index Refutes First-Time Homebuyer Numbers

According to a new index released Wednesday by the American Enterprise Institute's (AEI) International Center on Housing Risk, an estimated 46 percent of mortgages made from October 2013 through October 2014 were for first-time homebuyers. Looking only at government-guaranteed loans, that share is closer to 52 percent.

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UWM Introduces Investor Edge Program

Michigan-based United Wholesale Mortgage (UWM), one of the nation's fastest growing wholesale lenders, announced on Tuesday the rollout of its newest product: Investor Edge, an offering designed specifically for borrowers seeking to purchase or refinance non-owner occupied investment properties.

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