General World News

The power of data with Mike Simonsen

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Mike Simonsen, president of Altos Research, will share his data-focused insights on the housing market at Gathering of Eagles 2023. Join Simonsen and other data-obsessed attendees for a “Power Lunch,” on Tuesday, June 20.  There’s no need to eat lunch alone at Gathering of Eagles. During Simonsen’s presentation, not only will you break bread with […]

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The homebuilders got lucky this time

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Looking at the latest NAHB/Wells Fargo homebuilder confidence data and builder stock prices, I can say the homebuilders got very lucky this time around in the middle of a housing recession. There is one simple reason for this: it’s not 2008. They have less competition as they are working from low sales levels in today’s […]

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Black Knight to integrate Wolters Kluwer’s eNote and eVault capabilities

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Black Knight will integrate Wolters Kluwer‘s eNote and eVault capabilities in order to cut lenders’ costs per transaction and secure their clients’ electronically signed assets.  The two firms signed an agreement to combine Wolters Kluwer’s eNote and eVault solutions with Expedite Close — Black Knight’s digital closing solution — as the final pieces to connect […]

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Homebuilders pulled back on the pace at the start of 2023

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With economic uncertainty and supply chain issues plaguing the industry, homebuilders pulled back last month. Homes were started at an estimated annual pace of 1.309 million in January, down 4.5% month over month, according to a report released Thursday by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development (HUD). Housing starts were down 21.4% […]

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American Actress Raquel Welch Dies at 82

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When Raquel Welch donned a deerskin bikini for a 1966 caveman screen epic, she became one of the hottest sex symbols of her time, a role she never felt able to escape. The film was mediocre, but the poster for “One Million Years BC” went round the world, taking her with it and making both […]

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Mortgage Coach and Sales Boomerang unify, launch “TrustEngine” platform

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Roughly a year after Mortgage Coach and Sales Boomerang were acquired by a private equity firm, they’ve merged their services onto one platform and rebranded to “TrustEngine.” The company unification and new platform come as mortgage origination volume falters and lenders struggle to stay afloat in a high mortgage rate environment. The TrustEngine Borrower Intelligence […]

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Barr Group Mortgage completes first Click n’ Close eNote transaction

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Texas-based mortgage lender Click n’ Close announced on Tuesday that its primary technology partner, Alabama-based mortgage banker Barr Group Mortgage, has completed the first eNote transaction using the Click n’ Close non-delegated correspondent eNote program. “Working with Ameris Bank’s warehouse division SVP Jill Gainer helped ensure the set-up process was straightforward, and our first two […]

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Mortgage demand declines amid persistently high inflation 

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Expectations that high inflation may persist for longer than previously projected put pressure on mortgage rates last week. In turn, it affected borrowers’ appetite for home loans.  The latest Mortgage Bankers Association (MBA) survey showed that mortgage loan application volume declined 7.7% for the week ending Feb. 10 from the previous week. Compared to the […]

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U.S. Department of Education Announces First-Ever Augustus F. Hawkins Centers of Excellence Program Grants to Strengthen Teachers of Color Pipeline and Address Teacher Shortage

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Today, the U.S. Department of Education (Department) announced first-ever awards, totaling over $18 million, for the Augustus F. Hawkins Centers of Excellence Program grants to increase high-quality teacher preparation programs for teachers of color, strengthen the diversity of our teacher pipeline, and address teacher shortages. details ⇒ BusinessMediaguide.Com portal received this content from this noted […]

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CHLA wants small IMBs exempt from proposed CFPB registry rules

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The Community Home Lenders of America (CHLA) wants small banks to be exempted from the proposed rules from the Consumer Financial Protection Bureau (CFPB) that order registry for nonbank financial services providers.  In December, the CFPB published a proposed rule that would require certain nonbank covered entities to report certain public agency enforcement actions and […]

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Struggling mortgage shop Celebrity in M&A talks with On Q Financial: sources

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Six months after shutting down its correspondent lending division, Illinois-based mortgage company Celebrity Home Loans‘ bread-and-butter retail channel is also at risk, multiple sources told HousingWire.   According to former employees and business partners, several Celebrity’s retail branches transitioned to another lender in December and January. Celebrity is also in talks to strike a deal with […]

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Tim Bowler named president of ICE Mortgage Technology

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Timothy Bowler, president of Intercontinental Exchange, Inc. Benchmark Administration (IBA), will take on a new role as president of ICE Mortgage Technology starting on March 1.  Bowler will be in charge of ICE’s business segment, which is focused on automating elements of the mortgage industry and delivered a revenue of $1.1 billion in 2022, the […]

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Ethiopia’s Oromo, Amhara Actors Promote Traditional Conflict Resolution

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Ethiopia has long struggled with problems of communal friction turning into violent, ethnic conflict. Members of the two largest ethnic groups, the Oromos and Amharas, have come together to showcase traditional conflict resolution through musical drama. Maya Misikir reports from Adama, Ethiopia. Camera: Vinicius Assis. details ⇒ BusinessMediaguide.Com portal received this content from this noted […]

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EPM files a counterclaim against Jesse Iwuji Motorsports

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Equity Prime Mortgage (EPM) filed a counterclaim against Jesse Iwuji Motorsports (JIM) last week for allegedly breaching a sponsorship contract. The Atlanta-based mortgage lender is accusing the stock car racing team of breaking the agreement by changing the driver of the car starting in May 2022.  The counterclaim is a response to a lawsuit filed by […]

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Jay Farner is leaving Rocket Companies

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Jay Farner will retire as CEO of Rocket Companies in June, ending his 27-year stint at the firm. He stepped down as member of the board of directors last week, Rocket disclosed in a filing with the Securities and Exchange Commission.  On February 8, Farner, 49, notified the board of directors of Rocket of his […]

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Rate lock activity rose sharply from December’s depths

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The drop in mortgage rates and seasonal tailwinds boosted mortgage rate lock activity by 32% in January, ending a nine-month streak of declines, according to Black Knight’s originations market monitor report. “Mortgage rates declined in January, continuing a trend that began in early November 2022,” Kevin McMahon, president of Optimal Blue, a division of Black […]

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Australian Indigenous Rock Art Collection Nominated for UN Heritage Status

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Australia has nominated a culturally sensitive Aboriginal area that is home to the world’s largest collection of rock art for United Nations heritage protection.  The Burrup Peninsula, 1,500 kilometers north of Perth, the Western Australian state capital, has 50,000 years of First Nations history, including millions of a type of rock carving called petroglyphs.   It […]

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Guaranty rolls out GAssist, a new borrower application portal

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Nashville, Tennessee-based mortgage lender Guaranty Home Mortgage Corporation (GHMC) has rolled out its new borrower online application portal, GAssist. The portal is designed to offer GHMC partners a “unique borrower online application experience” at no additional costs. The GAssist portal will provide its partners, which include community banks, credit unions, and brokers, with tools that […]

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Mr. Cooper sees a $1.5T MSR opportunity in 2023

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The servicing portfolio propelled Mr. Cooper Group‘s overall earnings in the fourth quarter of 2022 when cost-cutting initiatives weren’t enough to bring the origination business to profitability. And investors can expect the company to keep growing its servicing business in the months to come.  Mr. Cooper reported on Friday it delivered $1 million in net […]

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Mr. Cooper closes deal to acquire investment firm Roosevelt Management Company

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Nonbank mortgage lender and servicer Mr. Cooper has signed a definitive agreement to acquire the investment management firm Roosevelt Management Company, LLC., the company confirmed on Friday. The deal also includes the operations for affiliated company Rushmore Loan Management Services, LLC.  “This acquisition will provide us with an asset management platform to raise third-party capital […]

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How LOs can leverage their sphere of influence

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The 2023 market is unlike those we’ve seen in previous years. We’re coming off of back-to-back years where mortgage rates were in the 2s and 3s, and they’re now in the 6s. In a market like this, every lead, loan and basis point matters more than ever for LOs. Dave Savage, chief innovation officer for […]

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Housing affordability ends 2022 at record low

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Housing affordability hit a record low in the fourth quarter of 2022, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index released Thursday. At the end of the fourth quarter, the index stood at its lowest level since the NAHB began tracking the data on a consistent basis in 2012. Despite this, […]