General World News

U.S. Department of Education Announces $182 Million in Education Innovation and Research Grants to Improve Academic Achievement for Underserved Students

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U.S. Secretary of Education Miguel Cardona today announced $182 million in new grant awards to 30 school districts, institutions of higher education, and nonprofit organizations across the United States as part of the Education Innovation and Research (EIR) program. These grants will support local efforts to develop, implement, and take to scale entrepreneurial and evidence-based projects that have the potential to improve academic achievement for underserved students. details ⇒ BusinessMediaguide.Com portal received this […]

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Vicente Fernandez, Revered Mexican Singer, Dies at 81

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Vicente Fernandez, an iconic and beloved singer of Mexican regional music who was awarded three Grammys and nine Latin Grammys, and inspired a new generation of performers, including his son Alejandro Fernandez, died on Sunday. He was 81 years old. Fernandez was known for hits such as “El Rey,” and “Lastima que seas ajena,” his […]

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‘Vampire’ Author Anne Rice Dies at 80

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Anne Rice, writer of the supernatural and the macabre, has died. She was 80. Christopher Rice, her son, posted on Twitter early Sunday: “. . . my mother, Anne Rice, passed away due to complications resulting from a stroke. . . The immensity of our family’s grief cannot be overstated.” Rice is best known for […]

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HW+ Member Spotlight: Josh Mettle

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This week’s HW+ member spotlight features Josh Mettle, division president at NEO Home Loans. With over 20 years of mortgage experience, Mettle has dedicated his career to the mortgage industry. Prior to NEO Home Loans, Mettle served as senior vice president, director of physician lending at Fairway Independent Mortgage Corporation. He also is an author, podcast […]

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Statement by U.S. Department of Education Assistant Secretary of the Office for Civil Rights Catherine Lhamon on Title IX Update in Fall 2021 Unified Agenda and Regulatory Plan

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U.S. Department of Education Assistant Secretary of the Office for Civil Rights Catherine Lhamon issued the following statement today after the Fall 2021 Unified Agenda and Regulatory Plan, published today, showed that the Department anticipates issuing the Title IX notice of proposed rulemaking by April 2022, a month earlier than the May 2022 date listed in the […]

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Move over Fannie, the non-QM loan is in the fast lane

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In the world of mortgage-financing, there exists a product line defined by what it is not — non-qualified mortgage (non-QM), non-prime, non-agency or an alternative-documentation loan.  In the secondary market, these non-QM loans are in demand this year and are expected to continue propelling the growth of private-label securitizations in the year ahead, according to […]

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CFPB lets mortgage servicers collect on social media, but will they?

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CFPB Director Rohit Chopra ” data-medium-file=”https://www.housingwire.com/wp-content/uploads/2021/10/HW-Rohit-Chopra.png?w=300″ data-large-file=”https://www.housingwire.com/wp-content/uploads/2021/10/HW-Rohit-Chopra.png?w=1024″ loading=”lazy” width=”1220″ height=”700″ src=”https://www.housingwire.com/wp-content/uploads/2021/10/HW-Rohit-Chopra.png?w=1024″ alt=”HW-Rohit-Chopra” class=”wp-image-323927″ srcset=”https://www.housingwire.com/wp-content/uploads/2021/10/HW-Rohit-Chopra.png 1220w, https://www.housingwire.com/wp-content/uploads/2021/10/HW-Rohit-Chopra.png?resize=150,86 150w, https://www.housingwire.com/wp-content/uploads/2021/10/HW-Rohit-Chopra.png?resize=300,172 300w, https://www.housingwire.com/wp-content/uploads/2021/10/HW-Rohit-Chopra.png?resize=768,441 768w, https://www.housingwire.com/wp-content/uploads/2021/10/HW-Rohit-Chopra.png?resize=1024,588 1024w, https://www.housingwire.com/wp-content/uploads/2021/10/HW-Rohit-Chopra.png?resize=600,344 600w” sizes=”(max-width: 1220px) 100vw, 1220px”>CFPB Director Rohit Chopra The new Consumer Financial Protection Bureau (CFPB) debt collection rule allows mortgage servicers to communicate with borrowers on social media, but the compliance […]

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UN Chief to Attend Beijing Games Despite Boycotts

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Despite a growing number of Western countries announcing diplomatic boycotts of the 2022 Beijing Winter Olympics, the United Nations secretary-general, António Guterres, will attend the Games. “The Secretary-General received an invitation from the International Olympic Committee to attend the Beijing Winter Games, and he has accepted it,” said U.N. spokesman Stephane Dujarric.   “I mean, as […]

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Goldman Sachs plants its flag in the jumbo-loan gold rush

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Investment bank Goldman Sachs, through its affiliate Goldman Sachs Mortgage Co., has sponsored 18 private-label transactions so far in 2021 backed by more than 20,000 loans valued collectively at $9.9 billion, an analysis of bond-rating reports shows. Goldman Sachs’ string of residential mortgage-backed securities (RMBS) offerings this year were dominated by a dozen prime jumbo-loan […]

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Two Sisters Hit New York to Get City to Sing – With Them

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During COVID when all the theaters were closed, two sisters decided to take their musical talents to the only stage available: the street. The rest, as they say, is history. Anna Nelson reports. Anna Rice narrates her story. Camera: Natalia Latukhina, Vladimir Badikov details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: […]

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Mortgage applications are up, on the strength of FHA refis

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Mortgage applications increased 2% for the week ending Dec. 3, driven by a surge in government refinancings according to the Mortgage Bankers Association (MBA) survey published on Wednesday. The increase was mainly driven by the refinance index up 9% from the previous week on a seasonally adjusted basis. Concurrently, the purchase index decreased 5% from the week prior. “Mortgage […]

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More renters and homeowners are missing payments

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More than five million households failed to make their rent or mortgage payments in October, an increase compared to the same period of 2020, and a concern for mortgage servicers. According to the Mortgage Bankers Association‘s Research Institute for Housing America (RIHA), the number of households missing rent or mortgage payments increased from 5.33 million […]

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Fed pulling back from the MBS market cautiously

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The Federal Reserve Bank of New York later this week plans to sell up to $90 million in agency mortgage-backed securities (MBS) now held in portfolio, a small sale, but still an interesting move in the current economic climate.  The MBS asset sale is not indicative of a change in monetary policy on the part […]

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U.S. Department of Education Approves Wisconsin’s Plan for Use of American Rescue Plan Funds to Support K-12 Schools and Students, Distributes Remaining $514 Million To State

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

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Who’s afraid of the PSPA?

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Stakeholders are divided over whether, in light of proposed changes to its capital rule, the Federal Housing Finance Agency should retool its agreement with the U.S. Treasury and remove policies some say never belonged there in the first place. Even if the mortgage industry were in agreement, there is little they could do about it. […]

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Reports: Biden Admin Expected to Announce Diplomatic Boycott of 2022 Beijing Winter Games

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U.S. news outlets say the Biden administration is expected to announce a diplomatic boycott of the upcoming 2022 Beijing Winter Olympic Games this week.    A diplomatic boycott means no U.S. officials would attend any events of the Beijing 2022 Games, while still allowing athletes on Team USA to participate. That would avoid a repeat of 1980, when then-President Jimmy Carter kept U.S. […]

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Dictionary.com Anoints Allyship Word of the Year for 2021

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Allyship, an old noun made new again, is Dictionary.com’s word of the year.  The look up site with 70 million monthly users took the unusual step of anointing a word it added just last month, though “allyship” first surfaced in the mid-1800s, said one of the company’s content overseers, John Kelly.  “It might be a surprising choice […]

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Kennedy Center Honors, Its Traditions Are Back Once More

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The Kennedy Center Honors is returning to tradition this year. The lifetime achievement awards for artistic excellence will be presented Sunday night in a gala at the Kennedy Center’s main opera house after the coronavirus pandemic forced delays and major changes to last year’s plans. Honorees include Motown Records creator Berry Gordy, “Saturday Night Live” […]

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HW+ Member Spotlight: Reina Ramos

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This week’s HW+ member spotlight features Reina Ramos, senior vice president, mortgage market leader at City National Bank of Florida. She joined CNBF after more than a decade with Seacoast Bank, where she served as senior vice president, residential lending production manager. Below, Ramos answers questions about the housing industry: HousingWire: To start off, what is […]

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Suspect Arrested in Death of Philanthropist Jacqueline Avant

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A 29-year-old man has been arrested in the death of philanthropist Jacqueline Avant, who was fatally shot this week at the Beverly Hills home she shared with her husband, legendary music executive Clarence Avant, police said Thursday. Aariel Maynor, who was on parole, was taken into custody early Wednesday by Los Angeles police at a separate residence […]

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Nonbanks quick to implement 2022 conforming loan limits

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On Tuesday, the Federal Housing Finance Agency revealed the much-anticipated conforming loan limits for 2022, with the baseline number jumping by 18% to $647,200. It’s the largest-ever annual increase in the size of loans eligible to be bought by Fannie Mae and Freddie Mac. The figure, which is determined by a formula set by Congress, […]

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Fannie Mae revs up its credit-risk transfer machinery

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Fannie Mae is once again back in the credit-risk transfer market with a $984 million note offering through its Connecticut Avenue Securities real estate mortgage investment conduit, or REMIC. The recent offering, CAS Series 2021-R02, was slated to close this week and involves transferring loan-portfolio risk to private investors via a $984 million note offering […]

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Mortgage rates remain flat as Omicron fears spread

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Mortgage rates increased one basis point to 3.11% in the week ending Dec. 2, ignoring the volatility in the financial markets caused by the Omicron Covid variant, according to the latest Freddie Mac PMMS mortgage report. A year ago at this time, the average 30-year fixed-rate loan averaged just 2.71%, according to the report published on Thursday. […]

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Shoring up the mortgage underwriter shortfall

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The mortgage industry is contending with a loan-underwriter shortage that has acted like a governor on an engine — slowing the pace of a fast-growing private-label securitization market. The shortage stems from the imbalance created by the robust demand for underwriters in the private-label market set against the relatively stagnant supply of available underwriters — […]

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Better.com lays off LOs, secures $750M cash injection

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Better.com founder and CEO Vishal Garg Digital mortgage lender Better.com is laying off 9% of its workforce ahead of a $750 million cash injection from financial backer SoftBank Group. Company officials say the moves will allow refi-heavy Better to increase its strength in a mortgage market that is increasingly becoming purchase-focused. The layoffs were announced […]

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Jacqueline Avant, Wife of Music Legend, Killed in Shooting

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Jacqueline Avant, a Los Angeles philanthropist and the wife of music legend Clarence Avant, was fatally shot in Beverly Hills, California, early Wednesday, according to authorities and a Netflix spokeswoman.  Netflix spokeswoman Emily Feingold confirmed that Jacqueline Avant was killed in the shooting. Avant’s daughter, Nicole, is married to Ted Sarandos, Netflix co-CEO and chief […]