General World News

Jeffrey Naimon to speak at HW Annual Sept. 27-28

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A series of regulatory changes are taking place in housing due to a new political administration and the country’s reckoning with racial inequality in homeownership. That’s why HousingWire invited attorney Jeffrey Naimon, partner at the Buckley LLP Washington, D.C. office, to HW Annual to explain what these new regulations mean for the housing economy.  Naimon […]

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Lenders mandated to use FHA Catalyst for appraisals

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Starting March 14, 2022, the Federal Housing Administration (FHA) will require all lenders to use FHA Catalyst for appraisals. The module can also accept appraisals for Home Equity Conversion Mortgages (HECMs), the administration announced last week. The FHA Catalyst: Electronic Appraisal Delivery module will allow for the administration to expand their data collection and analysis […]

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U.S. Department of Education Announces 2021 National Blue Ribbon Schools

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U.S. Secretary of Education Miguel Cardona today recognized 325 schools as National Blue Ribbon Schools for 2021. The recognition is based on a school’s overall academic performance or progress in closing achievement gaps among student subgroups. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website of U.S. Department of Education

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Forbearance numbers fall as borrower exits remain high

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Servicers’ forbearance portfolio volume fell once again last week, as exits remained elevated compared to requests or re-entries. The total number of loans in forbearance dropped by eight basis points to 3.00% as of Sept. 12, according to the Mortgage Bankers Association (MBA).       The most notable decline was in the portfolio loans and private-label securities […]

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Fannie Mae cuts origination forecast for 2022

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Limited inventory, supply chain disruptions and concerns about inflation have led economists at Fannie Mae to lower their mortgage origination forecasts for the remainder of this year and into 2022. Fannie Mae dropped its projected origination volume for 2021 to $4.33 trillion from the $4.36 trillion it projected in August. It also downsized its 2022 […]

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In a purchase market, rookie LOs may struggle

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Rookies that pursued a career as mortgage loan originators in 2020 air dropped into a scintillating real estate market. There was easy money to be made – refi opportunities were bountiful, lenders hired tens of thousands of workers to meet capacity, and even showered underwriters with five-figure bonuses on top of $150,000 salaries. Rookie LOs […]

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‘Ted Lasso,’ ‘The Crown,’ Win Top Emmy Awards on Streaming Heavy Night

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Royal drama “The Crown” and feel good comedy “Ted Lasso” nabbed the top prizes at television’s Emmy awards on Sunday on a night dominated by streaming shows, British talent and rare wins by women.  Chess drama “The Queen’s Gambit” was named best limited series and tied with “The Crown” for the most wins overall at 11 apiece.   The best drama series […]

General World News

‘Ted Lasso,’ ‘The Crown,’ Win Top Emmy Awards on Streaming Heavy Night

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Royal drama “The Crown” and feel good comedy “Ted Lasso” nabbed the top prizes at television’s Emmy awards on Sunday on a night dominated by streaming shows, British talent and rare wins by women.  Chess drama “The Queen’s Gambit” was named best limited series and tied with “The Crown” for the most wins overall at 11 apiece.   The best drama series […]

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Support for Thompson to permanently lead FHFA grows

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Influential Congresswoman Maxine Waters has waded into the growing debate about who should lead the Federal Housing Finance Agency (FHFA). And her pick – though she doesn’t get a vote – is the acting director, Sandra Thompson. “Appointed on June 23 as acting director, Ms. Thompson has needed little time to show this nation how uniquely […]

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Secretary Cardona Congratulates 2021 President’s Education Awards Program Recipients

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U.S. Secretary of Education Miguel Cardona today congratulated the 2021 President’s Education Awards Program (PEAP) recipients, recognizing nearly 1.85 million elementary, middle, and high school graduates on their educational accomplishments. The students come from more than 18,750 public, private, and military schools from all 50 states, the District of Columbia, Puerto Rico, Guam, and American […]

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Defects decline as mortgage lenders self-correct

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Mortgage lenders have been making strides to right their wrongs, with critical defects falling to a rate of 2.01% in the first quarter of 2021, according to ACES Quality Management’s report published this week. This marks a notable improvement from the third quarter of 2020, when the critical rate rose to 2.34%, buoyed by increased […]

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Jane Powell, Hollywood Golden-Age Musicals Star, Dies at 92

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Jane Powell, the bright-eyed, operatic-voiced star of Hollywood’s golden age musicals who sang with Howard Keel in “Seven Brides for Seven Brothers” and danced with Fred Astaire in “Royal Wedding,” has died. She was 92. Powell died Thursday at her Wilton, Connecticut, home, longtime friend Susan Granger said. Granger said Powell died of natural causes. […]

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Three Iranian Dissidents to Be Honored by PEN America 

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Three imprisoned Iranian dissidents will be honored next month at Pen America’s annual gala.  The literary and human rights organization announced Thursday that writer-filmmaker Baktash Abtin, novelist-journalist Keyvan Bajan and author-critic Reza Khandan Mahabadi are this year’s recipients of the 2021 PEN/Barbey Freedom to Write Award. All three are members of the anti-censorship Iranian Writers […]

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FHFA proposes changes to GSE capital rule

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The FHFA proposed a rule on Wednesday to amend the Enterprise Regulatory Capital Framework (ERCF) for the GSEs that would refine the leverage buffer and the risk-based capital treatment for CRT transactions. However, far from reopening the whole discussion on the ERCF, the new rule proposes three specific amendments based on comments the FHFA received […]

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U.S. Department of Education Announces New Actions to Improve Educational Outcomes for Students In Puerto Rico

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WASHINGTON — Today, U.S. Department of Education Secretary Miguel Cardona met with Puerto Rico Interim Secretary of Education Eliezer Ramos to discuss new actions to improve educational outcomes for students. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website of U.S. Department of Education

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Rocket Mortgage’s Rachel Robinson to speak at HW Annual

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As the housing economy becomes increasingly digital, appraisal modernization may hold the key to not only providing a better experience for borrowers and lenders but also reducing potential appraisal bias. That’s why HousingWire invited Rachel Robinson, director, collateral policy and product development at Rocket Mortgage, to HW Annual to discuss how technology can play an […]

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Reverse mortgage volume drops in August

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The reverse mortgage volume boom appears to have diminished for now, at least if new data is any indication. Home Equity Conversion Mortgage (HECM) endorsements fell in August, 2021 by 14.3% to 3,679 loans, with July now having marked the end of a streak of monthly volume above a threshold of at least 4,000 units […]

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The purchase mortgage market continues to pick up steam

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Mortgage loan application volume rebounded from the week prior, increasing by 0.3% for the week ending Sept. 10, according to the Mortgage Bankers Association’s weekly report. The increase in application volume was predominantly driven by purchase mortgage activity, which grew by 8% from the week prior, the trade group said.   Not surprisingly, the refi […]

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Black Knight looks to court brokers with new LOS

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Black Knight is looking to hook mortgage brokers with a new loan origination system designed specifically for them. The Florida-based mortgage tech and analytics behemoth on Wednesday unveiled “LoanCatcher” to mortgage brokers, which it described as an “end-to-end” solution that is integrated into its Surefire CRM and mortgage marketing engine. The direct integration will allow […]

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Norm Macdonald, Former ‘Saturday Night Live’ Comic, Dies

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Comedian Norm Macdonald, a former “Saturday Night Live” writer and performer who was “Weekend Update” host when former U.S. President Bill Clinton and O.J. Simpson provided comic fodder during the 1990s, has died.  Macdonald, who was 61, died Tuesday after having cancer for nine years but kept it private, according to Brillstein Entertainment Partners, his […]

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Treasury, FHFA suspend recent PSPA requirements

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The Treasury Department and FHFA announced Tuesday that they are suspending certain requirements that were added in January to the Preferred Stock Purchase Agreements (PSPAs) between Treasury and Fannie Mae and Freddie Mac. Under those requirements, Fannie Mae had restricted its acquisition of loans secured by second homes and investment properties to 7% of its […]

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Is Mike Calhoun still in the running for FHFA director?

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Mike Calhoun is president of the Center for Responsible Lending This week the Biden administration announced several high-level nominations, including Alanna McCargo to lead Ginnie Mae. But missing from those announcements was the White House’s widely expected pick for the next permanent director of the Federal Housing Finance Agency(FHFA), Mike Calhoun. Sources told HousingWire at […]

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U.S. Department of Education Announces Return-to-School Road Trip to Spotlight Safe Return to In-Person Learning

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On Monday, Sept. 20, U.S. Secretary of Education Miguel Cardona will launch the “Return to School Road Trip,” a bus tour to showcase students and communities safely returning to in-person learning. Throughout the tour, Secretary Cardona, Deputy Secretary Cindy Marten, and local school leaders will join students, parents, educators, and school communities for events that […]

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Alt equity firm Point says it won’t abandon reverse mortgage space

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Point, a shared equity reverse mortgage firm that gives homeowners the ability to sell a small fraction of their equity, recently announced that it has raised over $1 billion in new capital commitments from real estate and mortgage-backed securities (MBS) investors. These companies include Atalaya Capital Management (which made a prior investment in 2018), Kingsbridge Wealth Management, […]

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Daniella Casseres to speak at HW Annual Sept. 27-28

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The regulatory environment for the mortgage industry is experiencing a period of turbulence as President Biden has ushered in a new era of regulation under his administration. That’s why HousingWire invited attorney Daniella Casseres to HW Annual to discuss just what these new regulations mean for those in the housing economy.  Casseres is a partner […]

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Servicer call volume up as borrowers exit forbearance

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After a slight lull, forbearance numbers across the board have started to lurch downwards, with the total number of loans dropping by 15 basis points to 3.08% as of Sept. 5, according to the Mortgage Bankers Association‘s latest survey. The portfolio loans and private-label securities (PLS) category, which has remained stubbornly high, saw the most […]

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U.S. Department of Education Approves Maine’s Plan for Use of American Rescue Plan Funds to Support K-12 Schools and Students, Distributes Remaining $137 Million to State

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Today, the U.S. Department of Education (Department) announced the approval of Maine’s American Rescue Plan Elementary and Secondary School Emergency Relief (ARP ESSER) plan and distributed remaining ARP ESSER funds to them. Maine’s plan details how the state is using and plans to use ARP ESSER funds to safely reopen and sustain the safe operation […]

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Disney to Debut Rest of 2021 Films in Cinemas First

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Disney announced Friday that all of its films slated for release by the end of the year will be exclusively screened in cinemas first, bringing relief to theaters anxious to reconnect with audiences after the coronavirus pandemic devastated their industry. The animated film Encanto will be released on the big screen Nov. 24 and will […]