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Beijing Confirms Strict ‘Closed Loop’ for Winter Olympics

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Chinese organizers have confirmed participants in next year’s Winter Olympics will be strictly isolated from the general population and could face expulsion for violating COVID-19 restrictions.  Vice mayor and Beijing 2022 organizing committee official Zhang Jiandong told reporters Wednesday that those taking part in the games beginning Feb. 4 must remain in a “closed loop” […]

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Nothing Says Halloween Like a Pumpkin Patch

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Nothing says Halloween like a visit to a pumpkin patch where selections range from cute to specimens so gigantic, they arrive by truck. Titi Tran has this report from Orange County, California. Camera:    Titi Mary Tran details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com

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Digital mortgage platform Maxwell raises another $52.5M

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Seven months after a $16 million Series B round, digital mortgage platform Maxwell has raised $52.5 million in additional funding, the company said on Tuesday. The latest round was led by Fin VC, the venture capital firm that also led the Series B capital raise. Existing investors TTV Capital, Prudence, and Rotor Capital participated in […]

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Japanese Princess Marries Commoner, Gives Up Royal Status

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The niece of Japanese Emperor Naruhito, Princess Mako, married a commoner Tuesday, relinquishing her royal status following a heavily scrutinized, controversial four-year engagement. The Japanese Imperial Household Agency issued a statement announcing the marriage of Mako to Kei Komuro, both 30 years old. The couple broke with tradition by foregoing the usual rituals and ceremonies […]

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What Microsoft’s new cloud platform means for mortgage

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Bill Borden, corporate vice president of worldwide financial services at Microsoft Tech giant Microsoft plans to launch a new cloud-computing offering targeting the financial-services market on Nov. 1 as part of an effort to further bolster its fast-expanding cloud business. The secondary market may want to take note. The Microsoft Cloud for Financial Services has […]

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GSE forbearance rate declines to 1%

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Servicers’ forbearance portfolio volume declined at a reduced pace this week, as mortgage holders continue to exit COVID-19 plans, according to the Mortgage Bankers Association (MBA).   The total number of loans in forbearance decreased by seven basis points to 2.21% as of Oct. 17. In the previous week, the rate dropped 34 basis points […]

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New York poised to expand CRA rule to nonbank lenders

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New York State is close to approving a controversial bill that expands the requirements of the state community reinvestment act (CRA) to non-depository lenders, following the lead of Massachusetts and Illinois. The CRA rule, enacted in 1977, mandates that banks help meet the credit needs of communities in which they take deposits, specifically in low- […]

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129-Year Journey Nears End as France Returns Benin Treasures 

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In a decision with potential ramifications across European museums, France is displaying 26 looted colonial-era artifacts for one last time before returning them home to Benin.  The wooden anthropomorphic statues, royal thrones and sacred altars were pilfered by the French army in the 19th century from Western Africa.  President Emmanuel Macron suggested that France now […]

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Rocket Pro TPO redesigns pricing calculator for brokers

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In the face of a serious housing shortage, exceptional service from brokers is more important than ever. With forced bidding becoming the new norm, top brokers understand the importance of providing loan pricing with speed and certainty.  Purchase originations demand more of brokers’ resources than a refinance. There are many more moving pieces and loan […]

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HW+ Member Spotlight: Karen Mayfield

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This week’s HW+ spotlight features Karen Mayfield, head of National Retail Sales at Wyndham Capital Mortgage. In her role, Mayfield is tasked with expanding on the company’s digital roots into the retail mortgage environment. With more than two decades in the industry, Mayfield most recently served as a division lending executive at Citi, where she oversaw up […]

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Protests Mount Over 2022 Winter Olympics in China

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There has been controversy leading up to the 2022 Winter Olympics scheduled to begin in China in February. The latest protest is in Greece. VOA’s Elizabeth Lee has the details. Camera: Laurent Laughlin Produced by: Elizabeth Lee details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com

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Housing groups to FHFA: Hit pause on Duty to Serve plan

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Twenty affordable housing groups teamed up to tell the Federal Housing Finance Agency (FHFA) its requirements for the government sponsored enterprises to support manufactured and rural housing, and preserve affordable housing don’t make the grade. The coalition, dubbed the “Underserved Mortgage Markets Coalition,” includes the Center for Community Progress, the National Housing Conference, the National […]

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U.S. Secretary of Education Announces Recipients of the 2021 Terrel H. Bell Awards for Outstanding School Leadership

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U.S. Secretary of Education Miguel A. Cardona today announced the recipients of the Terrel H. Bell Award for Outstanding School Leadership for 2021. Eight school leaders from the 2021 cohort of National Blue Ribbon Schools will be honored during the National Blue Ribbon Schools awards ceremony on Thursday, Nov. 4, 2021. details ⇒ BusinessMediaguide.Com portal […]

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Rising rates, tax questions driving MSR sales surge

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An offering of Fannie Mae and Freddie Mac mortgage servicing rights (MSR) linked to a loan pool valued at nearly $2.2 billion is now being marketed by the Prestwick Mortgage Group on behalf of an undisclosed independent mortgage banker, according to a bid document obtained by HousingWire.  The offering is yet another sign that the […]

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Mortgage rates climb to 3.09%

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The average 30-year-fixed rate mortgage climbed to 3.09% during the week ending Oct. 21, rising from 3.05% the week prior, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.80%. Most economists believe they’ll continue to climb. “Mortgage rates continued to rise this week due to the […]

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Mortgage execs better prepare for redlining enforcement

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Since Rohit Chopra was confirmed as the new director of the Consumer Financial Protection Bureau (CFPB) in September, there’s been one particular word on the lips of mortgage executives. And it gives them chills: redlining. “We are going to see a lot of emphasis on redlining: when you’re actively, intentionally separating out areas that you […]

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Mortgage activity falters as rates rise

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Mortgage application activity dropped 6.3% for the week ending Oct. 15, according to the latest Mortgage Bankers Association survey. And, as you might have guessed, mortgage rates had a lot to do with it. “Refinance applications declined for the fourth week as rates increased, bringing the refinance index to its lowest level since July 2021,” […]

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Rocket Mortgage makes another push for brokers

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Executive Vice President at Rocket Pro TPO Austin Niemiec ” data-image-caption=” Executive Vice President at Rocket Pro TPO Austin Niemiec ” data-medium-file=”https://www.housingwire.com/wp-content/uploads/2021/10/HW-Austin-rocket.png?w=300″ data-large-file=”https://www.housingwire.com/wp-content/uploads/2021/10/HW-Austin-rocket.png?w=1024″ loading=”lazy” width=”1200″ height=”713″ src=”https://www.housingwire.com/wp-content/uploads/2021/10/HW-Austin-rocket.png?w=1024″ alt=”HW+ Austin rocket” class=”wp-image-325834″ srcset=”https://www.housingwire.com/wp-content/uploads/2021/10/HW-Austin-rocket.png 1200w, https://www.housingwire.com/wp-content/uploads/2021/10/HW-Austin-rocket.png?resize=150,89 150w, https://www.housingwire.com/wp-content/uploads/2021/10/HW-Austin-rocket.png?resize=300,178 300w, https://www.housingwire.com/wp-content/uploads/2021/10/HW-Austin-rocket.png?resize=768,456 768w, https://www.housingwire.com/wp-content/uploads/2021/10/HW-Austin-rocket.png?resize=1024,608 1024w, https://www.housingwire.com/wp-content/uploads/2021/10/HW-Austin-rocket.png?resize=600,357 600w” sizes=”(max-width: 1200px) 100vw, 1200px”>Executive Vice President at Rocket Pro TPO Austin Niemiec […]

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Mortgage applications for new homes down in September

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Purchase mortgage applications for new homes were down 16.2% in September compared to a year ago, according to Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data released on Tuesday. This is also marks a 4% decrease from the prior month. Based on data from the survey, MBA estimates that there were 66,000 new single-family […]

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New York Statue Honors Resilient Human Spirit in COVID Era

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In New York City, artist Jorge Rodriguez-Gerada unveiled a unique piece of art called The Hug, created to honor those impacted by the coronavirus pandemic. Nina Vishneva was there for the unveiling and has more in this story narrated by Anna Rice. Elena Wolf contributed to this report. Camera: Max Avloshenko, Elena Matusovsky details ⇒ BusinessMediaguide.Com […]

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U.S. Department of Education Releases New Resource on Supporting Child and Student Social, Emotional, Behavioral and Mental Health during COVID-19 Era

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Today, the U.S. Department of Education released a new resource: Supporting Child and Student Social, Emotional, Behavioral and Mental Health to provide information and resources to enhance the promotion of mental health and the social and emotional well-being among children and students. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website of U.S. […]

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Forbearance heading one direction: down

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Forbearance declined across the board this week as government agencies and industry stakeholders chart a path out of forbearance and into loss-mitigation. The total number of loans still in forbearance was down 34 basis points from 2.62% of servicers’ portfolio volume the prior week to 2.28% the week ending Oct. 10, 2021, per the latest […]

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Are you ready for the new CFPB director?

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Over the last month, two of the biggest housing regulators either changed or were rumored to change leadership. In mid-September, there were talks that the Biden administration would nominate Mike Calhoun, president of the Center for Responsible Lending, as the new FHFA director, and at the end of September, Rohit Chopra was officially confirmed as director of […]