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Home sellers’ asking prices jump 34% in California

Listing prices in California have risen 34% since January as inventory shriveled amid the pandemic.

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Wells Fargo provides few updates on growth, cost-cutting plans

The company’s outgoing CFO discussed ways the asset cap is stunting growth, but provided no updates at an industry conference on when the restriction might be lifted or the types of jobs it will cut.

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Home prices keep rising, as affordability problems sprout in new areas

Median closing prices hit a new record high during the four-week period ended Sept. 6, Redfin said.

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CSBS committee backs push to extend remote work for mortgage pros

Many states currently have temporary work-from-home guidance for licensed mortgage professionals that extends through at least Dec. 31, but some have fall expiration dates.

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Houston is experiencing a pandemic-fueled housing boom

High-end home sales fueled the market in August while inventory fell to its lowest level in five years, culminating in one of the busiest summers ever for Houston housing.

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Servicers intensify retention efforts as the rate of success declines

Only 18% of refinance borrowers returned to the same lender in the second quarter, the second lowest rate since 2005.

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Ginnie Mae issuance breaks a record for the second month in a row

Also the Federal Housing Administration, which is a key contributor of government-insured loans to Ginnie securitizations, recently set new conditions on mortgage applicants that have been in forbearance.

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Low incomes make Philadelphia homes less affordable

For both homeowners and renters, Philadelphia is a relatively affordable city with low housing costs when compared with other big cities, but Philadelphia’s high poverty rate makes the city more expensive for its residents, especially renters.

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Mortgage rates hit new all-time low, Fraser to helm Citi and more of the week’s top mortgage news

Plus: mortgage credit availability hits 6-year-low and Ellie Mae and ICE Mortgage change leadership

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Refis drive — and restrict — title insurer premium gains year over year

Even though second-quarter originations were nearly double the same period in 2019, most were refinancings, which generate less revenue for title companies.

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