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Citi names Brad Wayman head of U.S. mortgage

Housing Wire

mortgage after serving in the role since December. Wayman first joined Citi in 2003, and most recently, he held the position of head of U.S mortgage sales , where he led distributed retail sales, direct to consumer sales, strategic market business development, community reinvestment strategy and sales support.

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Risks of nonbank mortgage sellers and servicers revisited

Housing Wire

In a comprehensive study of mortgage market liquidity, Liquidity Crises in the Mortgage Market , several well-known academics provided compelling evidence for “liquidity vulnerabilities associated with nonbanks.” These were 2000-2003, 2004-2008Q2, 2008Q3-2011, and 2012-2015.

Sellers 413
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HUD declares FHA once again backing DACA mortgages

Housing Wire

Department of Housing and Urban Development declared Wednesday that the Federal Housing Administration will once again back mortgages for immigrants under the Deferred Action for Childhood Arrivals (DACA) program. are eligible to apply for mortgages backed by the FHA. are not eligible for FHA-insured mortgages.” .”

Mortgage 546
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NAF taps Mosi Gatling for newly created executive role

Housing Wire

California-based New American Funding (NAF), which recently acquired Draper and Kramer Mortgage Corp. Last year, she produced about $78 million in mortgages, consisting mainly of Federal Housing Administration (58.8% of the total) and purchase loans (93.5%), according to the mortgage tech platform Modex. Of the total, 53.6%

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HUD outlines reverse mortgage wish list in budget proposal

Housing Wire

Department of Housing and Urban Development (HUD) are a few key priorities related to the Federal Housing Administration (FHA) and its Home Equity Conversion Mortgage (HECM) program. Of that total, $220 billion is estimated for standard forward mortgages and $17.9 federal government. billion is for HECM.”

Mortgage 325
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New American Funding onboards top Chicago loan officer 

Housing Wire

Larry Steinway, VP producing area sales manager at New American Funding He joins NAF from Revolution Mortgage , where he served as branch production sales manager and SVP of mortgage lending for a little over a year. Most recently, NAF acquired $2 billion Chicago-based retail shop Draper & Kramer Mortgage Corp.

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Trade groups express concern to FHFA over historic credit data

Housing Wire

A coalition of trade organizations — including the American Bankers Association (ABA), the Housing Policy Council (HPC), the Independent Community Bankers of America (ICBA), the Mortgage Bankers Association (MBA) and U.S. historical dataset. that use trended credit bureau data.

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