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Investors turn their eyes to affordable housing opportunities

Housing Wire

As the pandemic shifts from crisis to chronic, investors, community leaders and housing advocates say they intend to make the most of the chance to permanently elevate the case for affordable housing even as economic metrics are starting to shift.

Investors 416
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Mortgage Coach, Polly team up amid a rapidly shrinking industry

Housing Wire

Mortgage Coach, founded in 2009 and based in California, offers an interactive borrower education platform that lets loan officers guide borrowers through a visual presentation of their loan options. Movement Mortgage, First American Financial and FinVC joined existing investors 8VC, Khosla Ventures and Fifth Wall.

Mortgage 393
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Old Republic CEO to retire at the end of January

Housing Wire

Big Four title insurer Old Republic is on the lookout for a new CEO after Mark Bilbrey announced on Thursday that he would be retiring at the end of January. Just seven years later, Bilbrey and other investors purchased the firm, which was eventually sold to First American in 2003. Bilbrey has served as the firm’s CEO since 2019.

Insurance 334
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Regulator in Illinois suspends Michael Strauss, Smart Rate licenses

Housing Wire

The background Strauss was charged in 2009 by the Securities and Exchange Commission (SEC) with accounting fraud. The SEC alleged that Strauss engaged in a pattern of false and misleading claims, bringing financial losses from investors. They again did not provide the information requested. Strauss agreed to pay a $2.45

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Did Michael Strauss, accused of fraud, just start a new mortgage company?

Housing Wire

There were no severance packages, and even health insurance was canceled retroactive to May 2022, leaving some on the hook for huge medical bills. The Smart Rate website mentions that the mortgage lender offers purchase and refinancings, jumbo, FHA, adjustable, bank statement and investors loans.

Mortgage 393
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Impact of the CARES Act on mortgage servicing operations

Housing Wire

Thanks in large part to these programs, the sort of housing market crisis of the 2008-2009 Great Recession has thus far been avoided. Many of these challenges persist today, while new ones – like post-forbearance credit reporting, investor and year-end reporting for deferred balances – continue to arise. Investor reporting.

Mortgage 432
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Investor + Flippers Guide to FHA Flipping Guidelines

Listing Spark

The FHA has insured over nine million mortgages since 2009 , and as home prices have climbed higher than ever in the past three years, many prospective homeowners are turning to FHA loans due to the increased assistance and down payment requirements. Make this stipulation clear in your listing terms.