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First American Cyber Incident Expected To Impact Q4 2023 Financials

Big Four title firm First American Financial believes the cybersecurity incident it incurred on Dec. 20, 2023, will have material impact on its fourth quarter 2023 financial results, according to a document filed with the Securities and Exchange Commission last Friday. In the filing, First American informed the public that

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Mortgage Apps Uptick Spreads Optimism On A Refi Recovery

Mortgage rates at their lowest level in three weeks led to an increase in borrowers’ demand for home loans last week, spreading some optimism in the industry in the first few weeks of 2024. To prove it, analysts are already discussing a potential refi recovery.  Overall, mortgage applications rose by 10.4%

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DataDigest: Construction Costs Easing For Homebuilders

New home construction exploded early in the pandemic as soaring home demand squeezed existing inventory nationwide, giving homebuilders a much bigger share of a shrinking pie. However, as mortgage rates hit multi-decade highs, cooling demand and shrinking the pool of qualified buyers for new homes, homebuilders slowed their pace of

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Homebuilders Start The Year On A Positive Note

For the second consecutive month, homebuilders have become more optimistic. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) report rose seven points month-over-month to a reading of 44 in January. The report attributes this sharp increase in builder confidence to mortgage rates remaining under 7% for the past month. “Lower

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FHFA Analysis Finds Racial Disparity In Appraisers’ Use Of Time Adjustments

A Federal Housing Finance Agency (FHFA) analysis has shown racial disparities in appraisers’ use of time adjustments, potentially harming borrowers of minority groups. The FHFA based its analysis on single-family housing data from the Uniform Appraisal Dataset (UAD), collected by Fannie Mae and Freddie Mac. A 5% sample of the UAD data was used, including

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HUD Secretary Suggests Openness To Changing FHA ‘life Of Loan’ Requirement

Secretary of the U.S. Department of Housing and Urban Development (HUD) Marcia Fudge suggested to a congressional committee that the department could consider eliminating life-of-loan premium requirements for mortgages backed by the Federal Housing Administration (FHA), but did not offer any indication about the issue’s priority level at HUD. Sitting

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