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RealtyTrac has released its U.S. Home Equity & Underwater Report for the first quarter of 2014, which shows that 9.1 million U.S. residential properties were seriously underwater — where the combined loan amount secured by the property is at least 25 percent higher than the property’s estimated...Read More
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An estimated 32,923 new and resale houses and condos sold in the state of California in the month of March. That was up 28.2 percent from 25,680 in February, and down 12.8 percent from 37,764 sales in March 2013, according to San Diego-based DataQuick.Read More
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Council for Citizens Against Government Waste (CCAGW) President Tom Schatz sent a letter to the Senate strongly urging members to oppose a new draft bill unveiled on March 17, 2014 by Sens. Tim Johnson (D-SD) and Mike Crapo (R-ID) addressing the disposition of government-sponsored enterprises...Read More
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Firas “Russ” Bachi of Waterford Township, Mich. was sentenced to two years in prison and two years of supervised release for defrauding a bank in connection with 10 mortgage loans, United States Attorney Barbara L. McQuade announced. McQuade was joined in the announcement by Paul M. Abbate,...Read More
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During Fair Housing Month, the Lawyers’ Committee for Civil Rights Under Law (Lawyers’ Committee) issued a comprehensive national report, Foreclosure Rescue, Inc., which examines the foreclosure rescue fraud epidemic, scam trends and efforts to combat these fraudulent activities. The Lawyers'...Read More
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Question: We are an FHA-approved lender with several branch officers. At one of our branches, a loan officer has an assistant, who is not licensed, but helps him close loans. The loan officer pays his assistant directly from his own compensation. Is this arrangement permissible? Answer: ...Read More
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Post-financial crisis regulatory changes have impacted the financial services industry in various and significant ways. But perhaps the sectors most affected are those that are consumer facing. Mortgage originators and servicers took much of the blame during the financial crisis as loan defaults...Read More
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Loan originators who have a trust relationship with prospects have an easier sale. When a client knows you and trusts you, their decision becomes about which loan to select, not whether to have you do the loan. When you know your clients, you face less rate shopping and less comparison to other...Read More
Compliance_Pic/Credit: Phil Ashley
As the third anniversary of the Wall Street Reform and Consumer Protection Act, aka the Dodd-Frank Act, draws near, lenders and financial institutions are finally getting a clear picture of the total impact of the law. Dodd-Frank dictates 398 rules that must be passed impacting banking, mortgage...Read More
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Hiring within the mortgage industry is challenging, given that every company is in competition to set itself apart. Hiring branch managers in many ways presents more of a challenge, given that branch management positions require employees who can both maintain autonomy and act as successful brand...Read More
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NMI Holdings Inc. announced that National MI’s application for an insurance license in Wyoming has been approved by the Wyoming Department of Insurance.Read More
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Lenderlive Network Inc. has announced that Claire Rhodes has joined the firm as regional account executive covering the northeast region for the Company’s Correspondent Lending division.Read More
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Inlanta Mortgage CEO John Knowlton and President Nicholas J. DelTorto have announced that Jean Badciong has been promoted to the position of chief compliance officer and Paul Buege has been promoted to chief operating officer.Read More
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Guaranteed Rate has announced that Martin J. Logan has been named as the company’s new chief information officer.Read More
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Applied Business Software (ABS) has introduced The Loan Office, designed for smaller lenders who need a powerful and affordable solution for managing loans. The Loan Office is a state of the art system, ideal for managing loans, collecting payments, paying investors, printing statements and much...Read More
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CoreLogic has released The Home Mortgage Disclosure Act: Foundation for a Sound Housing Market, the third white paper in a series which addresses the implications of new and revised federal mortgage finance industry regulations. In this edition, the nearly 40-year-old Home Mortgage Disclosure Act (...Read More
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United Wholesale Mortgage (UWM) announced that it launched a new program called "Big & Easy Plus," which is design for non-QM Jumbo loans. “There are a lot of borrowers that currently do not fit into the QM category,” says Mat Ishbia, CEO and president of UWM. “Our Big & Easy Plus program...Read More
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CoreLogic has announced an agreement to offer The Work Number, as part of the CoreLogic Credco Verification of Employment service. The Work Number, a solution offered through Equifax Workforce Solutions, is the largest collection of payroll records contributed directly from employers. The agreement...Read More

RealtyTrac has released its U.S. Home Equity & Underwater Report for the first quarter of...Read More

RealtyTrac has released its U.S. Home Equity & Underwater Report for the first quarter of...Read More

Commercial and multifamily mortgage bankers closed $358.5 billion of loans in 2013 according to...Read More

Several provisions in the comprehensive housing finance reform bill introduced by US Senators...Read More

RealtyTrac, an online marketplace for foreclosure properties, today released its U.S....Read More

Question: We are an FHA-approved lender with several branch officers. At one of our...Read More

RealtyTrac has released its U.S. Home Equity & Underwater Report for the first quarter of...Read More

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