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Origination

NYCB and Flagstar Deal Clears Hurdle

The Office of the Comptroller of the Currency (OCC) has approved the merger deal between NYCB and Flagstar Bancorp, however NYCB's acquisition of Flagstar remains subject to the approval of the Federal Reserve Board.

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Mortgage Rates Eclipse 7%

For the first time since April 2022, mortgage rates have surpassed the 7% mark, with many potential buyers now waiting to see where the market is headed, thus pushing home prices further downward.

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Single‐Family Home Sales Slip Nearly 20% YoY

With fixed-rate mortgages up nearly 195 basis points since mid-summer lows, new single-family homes tumbled in September, with more homeowners opting to remain in their current homes amid the erratic rate environment.

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Inventory Levels Creep Upwards

"After a sustained period of quick sales that kept the housing cupboard relatively bare, a supply of two months presents a lot more options for homebuyers," said Nick Bailey, RE/MAX President and CEO.

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Slowing House Price Appreciation Expected to Continue

Having slowed from recent peaks, house price appreciation in all top 50 markets analyzed in the latest study from First American revealed the housing market is adjusting to the decline in affordability as the hot pandemic sellers’ market transitions in favor of homebuyers.

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Dispelling the Myths of DIY Valuations

Todd Rasmussen, President and COO of Equity Valuation Partners, discusses how lenders and financial institutions can sometimes perform their own valuations of home loans on their books.

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Purchase Mortgage Apps Fall 42% YoY

As mortgage rates rose for the 10th straight week, hitting a 21-year high, housing demand continues to tail off, with the MBA reporting overall app volume falling nearly 2% week-over-week.

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