General World News

Thai Entrepreneur Who Bought Miss Universe Contest Says Brains and Beauty Drive Entrants’ Dreams   

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“Helloooo! Hello the Universe! Whoo!” shouted Jakkaphong “Anne” Jakrajutatip, the latest owner of the Miss Universe contest, from a stage filled with beauty queens. Jakkaphong, a Thai media tycoon and trans rights activist, bought the parent company, Miss Universe Organization (MUO), last year. She is the first non-American and first transgender woman to own the […]

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Why HELOCs are growing more popular

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The past few years in the housing industry have been nothing short of unprecedented. In 2020 and 2021, many homeowners refinanced, locking in historically low 30-year fixed rate mortgages. And now, with the impact of inflation and looming economic uncertainty, home equity lines of credit (HELOCs) are an increasingly popular choice for those who are […]

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Iranian Film Director Panahi Released After Hunger Strike

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Acclaimed Iranian filmmaker Jafar Panahi has been released on bail after starting a hunger strike protesting his almost seven-month detention, supporters said Friday.  The director had been arrested months before the current anti-regime protests erupted, but his imprisonment became a symbol of the plight of artists speaking out against the authorities.  Panahi was released from […]

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Altos Research housing market predictions for 2023

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This article is part of our 2022 – 2023 Housing Market Update series. After the series wraps, join us on February 6 for the HW+ Virtual 2023 Housing Market Update. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the data for this year, along with a roundtable […]

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NFL Will Offer Free CPR Training During Super Bowl Week

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Inspired by the lifesaving medical attention Damar Hamlin received on the field during a game last month, the NFL and American Heart Association will provide free CPR education in Arizona throughout Super Bowl week as part of the NFL Experience at the Phoenix Convention Center. Hamlin, the 24-year-old Buffalo Bills defensive back, needed to be […]

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USAA Federal Savings Bank cuts 130 positions in real estate lending 

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San Antonio, Texas-headquartered USAA eliminated 130 positions in the real estate lending group amid projections that the mortgage industry will shrink in 2023. The layoffs at USAA Federal Savings Bank represent about 1.6% of the total bank workforce, Bradley Russell, USAA’s corporate spokesperson, confirmed.  “In order to continue exceptional service to our members, we sometimes […]

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Iranian Film Director Goes on Hunger Strike in Prison

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An Iranian director who was arrested last summer, weeks before his latest film was released to widespread acclaim, has gone on a hunger strike to protest his continued detention amid more than four months of anti-government protests. Jafar Panahi, whose films have thrilled critics and won numerous international prizes, issued a statement saying he would […]

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Apex Home Loans names Leo Anzoleaga as SVP of residential lending

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Maryland-based mortgage lender Apex Home Loans has appointed Leo Anzoleaga as its senior vice president of residential lending. In his new role, Anzoleaga will be tasked with generating more residential mortgage business, fostering business partnerships and improving customer experience. “What I’m most excited about in joining Apex is the opportunity to work with not only […]

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FOA announces the sale of Incenter’s title businesses

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Finance of America (FOA) indirect subsidiary Incenter is selling its title insurance businesses, according to an announcement made on Thursday. Incenter has entered into an agreement with a wholly owned subsidiary of Essent Group Ltd. to sell the issued and outstanding shares of Agents National Title Holding Company (ANTIC) and the issues and outstanding membership […]

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Flagstar Bank adopts OrangeGrid mortgage servicing software

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Dallas-based mortgage servicing software provider OrangeGrid announced on Thursday that Flagstar Bank has implemented its mortgage servicing software to “manage its loss mitigation processes and enhance internal efficiencies.” “OrangeGrid is good news for Flagstar’s borrowers because it means a faster review for them  and a more timely return to a performing status for their loan,” […]

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UWM rolls out construction-to-permanent loans

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Michigan-based lender United Wholesale Mortgage (UWM) has introduced a construction-to-permanent loan that covers the cost of building a home and then converts to a permanent mortgage once construction is complete. Starting February 1, UWM’s one-time close construction loans will be available on eligible 15- and 30-year fixed conventional loans and 7- and 10-year adjustable-rate mortgages […]

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Borrower demand declines amid a volatile mortgage market 

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Borrower demand for home loans increased in the first three weeks of 2023, sparking optimism among mortgage industry executives and loan officers. But don’t fool yourself — there are signs of volatility on the horizon.  “Overall application activity declined last week despite lower rates, which is an indication of the still volatile time of the […]

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Rate buydowns are the cat’s meow in today’s market

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High interest rates, coupled with a still-low supply of housing, have created price hurtles that are keeping many first-time homebuyers and lower-income borrowers locked out of the housing market.  Interest rates, though down slightly in recent weeks, are still double what they were at the end of 2021, and the Federal Reserve continues its monetary tightening policies to fight […]

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Tom Brady Retires, Insisting This Time It’s For Good

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Tom Brady, who won a record seven Super Bowls for New England and Tampa, has announced his retirement from the U.S. National Football League. Brady — the most successful quarterback in NFL history, and one of the greatest athletes in team sports — posted the announcement on social media Wednesday morning, a brief video lasting […]

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Dan Mugge named COO of mortgage solutions company Calque

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Calque, a company that partners with lenders to offer non-contingent mortgages to homebuyers, has appointed Dan Mugge as its chief operating officer. Mugge, a mortgage industry veteran with more than two decades in technology and business management, will lead the company’s push to secure high-profile mortgage lending partners to offer Calque’s products. “What I love […]

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FHA announces new changes to loss mitigation waterfall 

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The Federal Housing Administration (FHA) announced on Monday changes to its loss mitigation options for borrowers struggling to pay their mortgages.  The announcement follows the Biden administration’s decision to set an end date for the COVID-19 pandemic national emergency declaration.  Meanwhile, the FHA-Home Affordable Modification (FHA-HAMP) options were temporarily suspended to simplify loss mitigation options, […]

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NYCB confirms cuts to retail mortgage channel after acquiring Flagstar

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New York Community Bancorp, Inc. (NYCB) confirmed it’s closing 69% of the retail home lending offices outside of its branches after acquiring Michigan-based Flagstar Bank.  “We made the strategic decision shortly after the transaction closed to swiftly restructure the business, which occurred in January,” Thomas Cangem, NYCB president and CEO, said in a statement. “Going […]

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‘Laverne & Shirley’ Actor Cindy Williams Dies at 75

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Cindy Williams, who played Shirley opposite Penny Marshall’s Laverne on the popular sitcom “Laverne & Shirley,” has died, her family said Monday. Williams died Wednesday in Los Angeles at age 75 after a brief illness, her children, Zak and Emily Hudson, said in a statement released through family spokeswoman Liza Cranis. “The passing of our […]

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Cenlar FSB names Jim Daras as CEO and president

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Cenlar FSB, the second-largest mortgage servicer and largest sub-servicer in the U.S., has appointed D. James ‘Jim’ Daras as its CEO and president. Daras’ professional career spans more than four decades in the banking and mortgage banking industry. His specializations include risk management, banking and corporate finance functions, bank restructuring, company start-ups and venture capital […]

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‘Avatar 2’ Tops Box Office for 7th Weekend

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“Avatar: The Way of Water” claimed the No. 1 spot on the domestic box office charts for the seventh weekend in a row with an additional $15.7 million, according to studio estimates on Sunday.  It was a quiet weekend overall, notable mostly for the Hindi language blockbuster “Pathaan” that broke into the top five and […]

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Top Fairway LO Dave Medina decamps for Movement Mortgage to spread his wings

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Top-producing loan officer Dave Medina and his team at the Temecula, California-based branch have left ​​Fairway Independent Mortgage to join Movement Mortgage. The move, which marks the start of Movement’s branch partnership strategy, comes four months after the South Carolina-based lender hired two top executives away from Fairway.  “In the 20 years that I’ve been […]

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Homebuilders still need lower mortgage rates

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What is happening with homebuilders and the new home sales sector as we head into the spring housing market? We have had some conflicting data points recently. On the one hand, cancelation rates have been rising. On the other hand, mortgage rates have gone down more than 1% since Oct. 20, 2022.  The builders’ stock […]

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Flagstar Bank makes big cuts to retail mortgage operation

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Two months after receiving the Federal Reserve’s approval to merge with New York Community Bank, Michigan-based Flagstar Bank is reducing its footprint in the retail channel and laying off hundreds of staffers, according to laid off employees.  “I just got news this morning that the company is scrapping retail outside of where the bank footprint […]

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Black Knight offers new servicer solutions to curb foreclosure, late-stage default

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Black Knight recently added the Collections solutions to its suite of solutions as a way for servicers to keep customers in their homes during periods of financial hardship. The Collections solutions are geared toward helping to prevent foreclosure and late-stage default by making qualified assistance options timelier and more accessible to both homeowners and servicers, […]