The transaction includes about 123 loans and is expected to close by August
Refi activity also rose to 46.6% of total mortgage applications from 45.4%
A little more than six years ago, renowned American hedge fund manager John Paulson was so convinced that subprime mortgage-backed securities would go belly-up that he took very short positions against them.
The early years of the 21st century were a boon for small mortgage lenders in the United States, at least until 2007.
While an abundance of publications and analysts have been quick to note the recent gain in housing prices, there’s been somewhat less attention devoted to particularly why housing prices climbed so markedly in 2012.
To begin the year, the early numbers reflect an earlier-than-expected boom of business for Realtors. In this business, no one moves or buys a home between Thanksgiving and Valentine’s Day – right? Well, not exactly – and if these unseasonal numbers are reflective of a new normal, the work week for Realtors just got longer.