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Mortgage Marketing: How You Can Shine

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The news is out ... the first four months of 2014 have shown that the demand for home loans has plummeted, mortgage rates are increasing, Freddie Mac and Fannie Mae are being overhauled, and Wells Fargo cut 700 mortgage jobs. In the midst of all this gloom, there is a way to for you to shine…Click to continue

A Tough Road for the Independents

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During the past four quarters, independent mortgage banks and the mortgage subsidiaries of chartered banks registered rather disturbing data in regard to their average profit per loan and origination expenses.Click to continue

Step Inside Ginnie Mae

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National Mortgage Professional Magazine and Ginnie Mae are partnering to provide you with useful and relevant information through a bi-monthly series, “Step Inside Ginnie Mae.” This series will provide insight into the housing finance industry, the secondary market, and specifically, how Ginnie Mae works to bring global capital into the mortgage market while minimizing risk to taxpayers. In addition, we will highlight many of Ginnie Mae’s leaders, including Ted Tozer, Mary Kinney and others you’ve heard from in the past.Click to continue

Mortgage Loan Originator Uniform State Testing

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More states have adopted, or will adopt, the use of the Uniform State Test (UST) for compliance with education requirements under the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act). The SAFE Act requires mortgage loan originators (MLO) to pass a “qualified written test” before they can be licensed.Click to continue

Mitigating the Risk of Distributed Denial-of-Service Attacks

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On Tuesday, April 1, 2014, Ellie Mae’s systems were compromised by a Distributed Denial-of-Service (DDoS) attack. Resources known to be affected were all Encompass services, including Encompass Docs Solution, Electronic Document Management (eFolder), Encompass Product and Pricing Service, Encompass Compliance Service and Ellie Mae Network Services.1Click to continue

Report Finds Oceanfront and Lakefront Home Values Near Double Median Prices

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Nationwide, the typical oceanfront or lakefront, single-family home is worth more than double the median value of all homes, and in some communities the median waterfront house could be worth ten or more times the median value of non-waterfront houses, according to a new analysis by Zillow. In the U.S. at the time of this analysis, the median single-family home was worth about $171,600, while the median waterfront house was valued at $370,900, a waterfront premium of 116.1 percent.Click to continue

Apps for New Home Purchases Down Nine Percent in August

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The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for August 2014 shows mortgage applications for new home purchases decreased by nine percent relative to the previous month. This change does not include any adjustment for typical seasonal patterns. By product type, conventional loans composed 68.9 percent of loan applications, FHA loans composed 15.7 percent, RHS/USDA loans composed 1.0 percent and VA loans composed 14.3 percent.Click to continue