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As the government and private industry rewrite home mortgage rules, it is crucial that they settle on the correct size of the future mortgage market.
Lawyers for Taylor, Bean & Whitaker Mortgage Corp, the 12th-largest U.S. mortgage lender, said in court papers last week that a "bankruptcy filing is imminent" for the lender after it was forced to shut down mortgage lending operations.
U.S. mortgage applications fell last week, reflecting a drop in demand for home refinancing loans as interest rates soared to their highest levels since June, data from an industry group showed on Wednesday.
U.S. mortgage applications climbed last week from a seven-month low, the Mortgage Bankers Association said on Wednesday, adding to emerging signs that the three-year housing market collapse may be abating.

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