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Mortgage News Daily

Optimal Blue launches mortgage rate indices on Nasdaq’s platform

Optimal Blue has announced that the Optimal Blue Mortgage Market Indices (OBMMI) is now available on Nasdaq’s Global Index Data Service (GIDS) platform. The mortgage tech company integrated with Nasdaq’s Contributor API (CAPI) to enable the real-time distribution of OBMMI, at no additional cost for all GIDS data recipients. Optimal Blue’s indices give mortgage and …

Mortgage News Daily

Wells Fargo buys $14B of delinquent mortgages tied to pandemic

Wells Fargo has purchased $14 billion of delinquent government-backed mortgages this month, leading the pack among servicers beginning to feel the balance-sheet pinch of the coronavirus pandemic. The banking giant was among companies that purchased roughly $20 billion in loans total from investors that were over 90 days past due, according to data from Ginnie …

Mortgage News Daily

Mortgage rates post another all-time low

After recording a record low the week before, the 30-year mortgage rate hit rock bottom again last week, according to the Freddie Mac Primary Mortgage Market Survey. The 30-year fixed-rate mortgage (FRM) hit 3.03% – its lowest rate in the survey’s history. The FRM was down from the previous week’s average of 3.07% and lower …

Mortgage News Daily

Cutthroat bidding wars intensify nationwide despite shaky economy

Record-low mortgage rates and tight inventory: the two elements heating up the competition in the US housing market despite the economic uncertainty caused by the coronavirus pandemic. With the average mortgage rate down to 3.03% and the national inventory down 21.3% annually, 53.7% of Redfin offers faced competition in June. This was up from than …

Mortgage News Daily

AIME founder apologizes for comments about Quicken Loans exec’s wife

Anthony Casa, founder of the Association of Independent Mortgage Experts, apologized Sunday in an online video for making “inappropriate” remarks about a Quicken Loans executive’s spouse. Casa said the executive had sent him a video message by text indicating that the couple was celebrating record mortgage production levels at the company. The AIME founder alleged …

Mortgage News Daily

Mortgage forbearance rate tumbles almost 3x from week before: MBA

For the fourth straight week, the rate of loans in forbearance diminished at nearly triple the pace of the week prior. The rate of mortgages going into coronavirus-related forbearance plummeted 21 basis points — the largest drop by far since the pandemic started — between June 29 and July 5, according to the Mortgage Bankers …

Mortgage News Daily

Mortgage Rates Have Moved Up From Last Week’s Lows

Mortgage rates definitely hit the lowest all-time lows of all-time last week, at least for conventional 30yr fixed scenarios without many risk-based adjustments.  The most recently available Freddie Mac rate survey (which drives a majority of mortgage rate headlines) reported all-time lows as of last Thursday.  Indeed, that was still true as of Thursday, but …