15 September 2017

Bring visibility to credit invisibles through alternative financial data

[Expert commentary] In today’s environment, loans are not as accessible to a growing number of Americans given a lack of sufficient, traditional credit history. This group is made up of millennials, low-income individuals, recent immigrants and mass-affluent individuals. There is a clear opportunity for lenders to capitalize on the opportunity to identify credit invisible consumers […]

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15 September 2017

Controversial SoFi CEO quits, effective immediately

SoFi CEO Mike Cagney announced early Friday morning that he is stepping down effective immediately as controversy surrounding the company’s work culture intensifies. The announcement updates Cagney’s original statement that he planned to step down by the end of the year. Not anymore. Source: Housing Wire News

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14 September 2017

Senate confirms Pam Patenaude as HUD deputy secretary

The Senate on Thursday voted to confirm Pam Patenaude to serve as the next deputy secretary of the Department of Housing and Urban Development. Patenaude, who garnered seemingly universal support from the housing industry, did not receive universal support in the Senate, but was confirmed by a wide margin. While many Democrats voted for Patenaude, […]

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14 September 2017

FTC launching investigation into Equifax data breach

Equifax, which is already facing inquiries from the Consumer Financial Protection Bureau, the House Financial Services Committee, the Senate Finance Committee, the office of New York Attorney General Eric Schneiderman, and a lawsuit from the state of Massachusetts over its massive data breach, now has another regulator breathing down its neck – the Federal Trade […]

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14 September 2017

Housing industry heavy hitters to speak at exclusive Detroit conference

Two top industry leaders were added to the list of panelists for an upcoming event from the J. Ronald Terwilliger Foundation for Housing America’s Families. The event, which will take place in Detroit in November, examines themes such as solving the rental affordability crisis, the future of housing finance and others. Source: Housing Wire News

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14 September 2017

SoFi defends mortgage standards, denies Fast Company allegations

SoFi stepped up to defend itself amid recent negative news coverage on the company’s alleged toxic workplace environment. Included in one publication’s coverage of the fintech company is a bold claim that “in the first round of SoFi mortgages, some homes lacked appraisals.” SoFi, however, in a response to HousingWire, gave this response to that […]

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14 September 2017

Freddie Mac: Mortgage rates could begin to rise soon

Mortgage rates held steady from last week as the 30- and 15-year mortgage interest rates remained the same. However, Freddie Mac expects they could soon begin increasing once again, following the 10-year Treasury yield which jumped a full 11 basis points. Source: Housing Wire News

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13 September 2017

Is major RESPA battle between Zillow and CFPB imminent?

More than a month has gone by since Zillow last gave an update on the Consumer Financial Protection Bureau’s investigation into its practices. The silence is enough to cause at least one analyst to question the likelihood the two parties will be able to reach a settlement. And if no settlement is reached, the industry […]

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13 September 2017

Increase in minority income pushes homeownership rate higher

Real median household income in the U.S. increased for the second year in 2016, and hit the highest level ever recorded. Two minority household segments saw the highest increases, which could explain the surging homeownership rates seen last year among Hispanics. Source: Housing Wire News

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13 September 2017

Fannie Mae, Freddie Mac cut mortgage modification interest rate to lowest level of 2017

For the third time this year, Fannie Mae and Freddie Mac are lowering the benchmark interest rate for standard mortgage modifications. And unlike last time, both of the government-sponsored enterprises are changing their respective benchmark rates at the same time. Source: Housing Wire News

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13 September 2017

Notarize partners with Adeptive Software to bring eClosings to more title agents

Notarize announced a partnership with Adeptive Software to integrate their title production product, ResWare, with Notarize for Mortgage, bringing an entirely digital mortgage closing process to title agents. This move is the latest announcement from Notarize on how it’s helping pave the way for completely remote eClosings in the mortgage industry. Source: Housing Wire News

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13 September 2017

Housing industry stands behind Trump’s pick for FHA head

After announcing Brian Montgomery as the next commissioner for the Federal Housing Agency, the housing industry voiced its support. Industry leaders are now urging the Senate to move quickly on accepting the nomination. Source: Housing Wire News

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