General World News

PrimeLending onboards a rival lender’s CEO

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Brian McKinney, formerly the CEO of Benchmark Mortgage (a dba of Ark-La-Tex Financial Services), has joined PrimeLending in a newly created executive position. McKinney, who’s been CEO of Benchmark since 2016, will serve as executive vice president for growth and strategic development at PrimeLending. He’s tasked with exploring new revenue opportunities and driving company growth. […]

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Onity Group strikes deal for $55M in MAM assets

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West Palm Beach, Florida-based Onity Group has struck a deal to acquire all assets of Mortgage Asset Management (MAM), which are estimated at a net value of $55 million, the company announced on Friday. The parties entered into an agreement on Oct. 9. The deal includes Home Equity Conversion Mortgages (HECMs) and mortgage servicing rights (MSRs) […]

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Fannie Mae expands voucher program for multifamily landlords

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Fannie Mae on Tuesday announced enhancements to its Expanded Housing Choice (EHC) initiative, opening it up to all jurisdictions without source-of-income protections. The government-sponsored enterprise (GSE) said the Housing Choice Voucher program, which launched in 2022, assists very low-income families, seniors and people with disabilities in being able to afford stable and quality housing in […]

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Louisiana’s Cajun and Creole heritage will be celebrated at 50th annual festival

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new orleans, louisiana — Louisiana’s Cajun and Creole heritage takes center stage this weekend when the Festivals Acadiens et Creoles marks a half-century of honoring and celebrating the culture through music, arts, food and community.  What started as a one day concert in 1974 to entertain 150 French-speaking journalists gathered in Lafayette — considered the heart […]

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Citadel agrees to pay $6.5M to settle DOJ’s redlining claims

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The U.S. Department of Justice (DOJ) announced on Thursday a $6.5 million agreement with Citadel Federal Credit Union to settle allegations of lending discrimination in certain neighborhoods of Philadelphia with majority Black and Hispanic populations. This is the DOJ’s first redlining settlement involving a credit union. The sector includes 4,600 financial institutions across America, which […]

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Floify now competes directly with Equifax’s The Work Number

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Mortgage solutions provider Floify is now going to go toe-to-toe with Equifax‘s oft-maligned workplace verification provider The Work Number, which has been criticized by mortgage lenders and regulators for years of cost increases. Floify is the first point-of-sale system (POS) to introduce a native electronic verification of income and employment service, Sofia Rossato, the president […]

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Taylor Swift, Hulk Hogan. Can celebrities sway US voters?

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From pop superstar Taylor Swift to former wrestler Hulk Hogan, celebrity endorsements have been a feature of this year’s U.S. presidential race. But whether they will have any kind of impact on the election is difficult to predict. VOA’s Veronica Balderas Iglesias reports. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: […]

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Federal housing leaders speak to the need for more reverse mortgage understanding

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Federal Housing Administration (FHA) Commissioner Julia Gordon and David Berenbaum, deputy assistant secretary for the Office of Housing Counseling at the U.S. Department of Housing and Urban Development (HUD), described a need for more reverse mortgage comprehension during an interview at this year’s National Reverse Mortgage Lenders Association (NRMLA) Annual Meeting and Expo in San […]

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After the waters recede: LOs, agents grapple with Helene and Milton devastation

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Agents and LOs are grasping with heavily damaged housing markets in the Southeast. ” data-medium-file=”https://www.housingwire.com/wp-content/uploads/2024/10/housing-markets-in-the-aftermath-of-Helene-and-Milton.jpg?w=300″ data-large-file=”https://www.housingwire.com/wp-content/uploads/2024/10/housing-markets-in-the-aftermath-of-Helene-and-Milton.jpg?w=1024″ tabindex=”0″ role=”button” src=”https://www.housingwire.com/wp-content/uploads/2024/10/housing-markets-in-the-aftermath-of-Helene-and-Milton.jpg?w=1024″ alt=”housing-markets-in-the-aftermath-of-Helene-and-Milton.” class=”wp-image-486254″ srcset=”https://www.housingwire.com/wp-content/uploads/2024/10/housing-markets-in-the-aftermath-of-Helene-and-Milton.jpg 1200w, https://www.housingwire.com/wp-content/uploads/2024/10/housing-markets-in-the-aftermath-of-Helene-and-Milton.jpg?resize=150,84 150w, https://www.housingwire.com/wp-content/uploads/2024/10/housing-markets-in-the-aftermath-of-Helene-and-Milton.jpg?resize=300,169 300w, https://www.housingwire.com/wp-content/uploads/2024/10/housing-markets-in-the-aftermath-of-Helene-and-Milton.jpg?resize=768,432 768w, https://www.housingwire.com/wp-content/uploads/2024/10/housing-markets-in-the-aftermath-of-Helene-and-Milton.jpg?resize=1024,576 1024w” sizes=”(max-width: 1200px) 100vw, 1200px”>Agents and LOs are grappling with heavily damaged housing markets in the Southeast. Housing markets in the Southeast are reeling from […]

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CoreLogic unveils AI-driven Araya platform for advanced property data

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Real estate data provider CoreLogic is unveiling a new artificial intelligence-powered property and location intelligence platform. The California-based company is launching the Araya platform, according to an announcement on Tuesday. Through Araya, CoreLogic will give customers access to the data and analytics of nearly all U.S. properties on one platform. The platform is intended for […]

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DC’s Hirshhorn Museum bustles with bright Brazilian art

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The vibrant world of yellow-skinned giants, surreal landscapes and a massive mechanical zoetrope have taken over the Hirshhorn Museum in the largest U.S. showcase of work by Brazilian twin brothers OSGEMEOS. It’s the most comprehensive display of the siblings’ art ever presented in the United States. Maxim Adams has the story. Camera: Sergii Dogotar. details […]

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Mortgage demand drops as interest rates rise, economy remains resilient

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After reaching their highest level since July 2022, mortgage applications have declined for two straight weeks, counteracting some recent positive signs for a still-sputtering housing industry. According to weekly data released Wednesday by the Mortgage Bankers Association (MBA), applications shrank 5.1% on a seasonally adjusted basis during the week ending Oct. 4. This included a […]

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Mr. Cooper shakes up technology leadership

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Mr. Cooper Group has made some changes to its technology leadership, led by the promotion of Sridhar Sharma to the roles of executive vice president and chief innovation and digital officer, the company announced on Wednesday.  Sharma has been the company’s chief information officer for the past decade, leading the development of Pyro AI, the […]

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Next on the road map: Candor automates underwriting for FHA loans

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Mortgage tech firm Candor Technology has expanded its Loan Engineering System (LES) to include Federal Housing Administration (FHA) loans. The company now fully automates underwriting decisions for FHA loans — minus collateral – and also offers a warranty on income calculations and cleared conditions for funded FHA loans. “There is no other automated underwriting technology […]

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Offline dating, friendship meetups trending in US 

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While online dating apps are as popular as ever, some singles prefer meeting in person. Karina Bafradzhian has a look at some services that offer face-to-face meetups for people who are looking for friends as often as dates. (Videographer: Sergii Dogotar ; Produced by: Sergii Dogotar, Anna Rice) details ⇒ BusinessMediaguide.Com portal received this content from […]

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MBA promotes pair to bolster affordable housing, DEI initiatives

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The Mortgage Bankers Association (MBA) has announced two promotions within its leadership team. The trade group named Wendy Penn as vice president of affordable housing initiatives and Amber Lawrence as vice president of diversity, equity and inclusion (DEI). Penn and Lawrence join 12 other women on MBA’s executive leadership team. The association praised both executives […]

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Home purchase sentiment hits highest level in two years

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Consumer confidence toward purchasing a home increased in September to its highest level in more than two years due to the expectation of lower mortgage rates, according to Fannie Mae’s Home Purchase Sentiment Index (HPSI).   But that’s only an early sign that the market is shifting. Due to the expectation of rising home prices in […]

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Adapting to change: Innovation and transformation in loss mitigation

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We are seeing tremendous transformation within the loss mitigation space. Remedies for distressed borrowers previously limited to bankruptcy relief have seen significant expansion through the creation of FHFA, Dodd-Frank, and the CFPB. Hardships have been expanded to include weather disasters and the COVID-19 pandemic. More recently, we have seen an extension and expansion of loss […]

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The holistic approach: A paradigm shift for quality control in mortgage lending

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In the modern mortgage landscape, quality control (QC) stands as a critical pillar supporting the industry’s integrity and stability. As market conditions fluctuate and regulatory scrutiny intensifies, lenders must adopt a comprehensive approach to QC that goes beyond compliance checkboxes. Consolidated Analytics’ Ed Gerding offers recommended strategies and best practices to elevate lenders’ QC programs […]