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Will mortgage lending get tighter in the next recession?

Housing Wire

As recession talk becomes more prevalent, some people are concerned that mortgage credit lending will get much tighter. One of the biggest reasons home sales crashed from their peak in 2005 was that the credit available to facilitate that boom in lending simply collapsed. The short (and long) answer is no, not a chance.

Lending 477
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PrimeLending taps Kim Dybvad to rebuild Mid-America division after poaching

Housing Wire

She joined Union Savings Bank as its regional vice president in 2010 and the Ohio Mortgage Bankers Association as its president in 2020, after being a member there for more than 10 years. PrimeLending currently operates in all 50 states in the U.S.

Legal 309
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CFPB names familiar faces as its chief enforcers

Housing Wire

The Consumer Financial Protection Bureau (CFPB) has appointed two veteran regulators to lead enforcement and supervision, the latest indication that Director Rohit Chopra will heavily prioritize fair lending and racial equity issues. a legal defense nonprofit. He also had a stint as director at the Center for Responsible Lending.

Lending 343
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UWM gave brokers big discounts to play with. It could be risky

Housing Wire

Mortgage compliance attorneys interviewed by HousingWire said the program, dubbed “Control Your Price,” raises potential areas of concern across three subjects: rules that govern loan officers’ compensation; fair lending; and unfair, deceptive and abusive acts and practices. ” According to Selden, the rule is clear.

Lending 354
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From Forms to Reports: A Look at the UAD Overhaul

Appraisal Buzz

UAD originated in 2010 and since then we appraisers are accustomed to using codes like “C4,” “N;Res,” and “1200sf0sfin” in our mortgage appraisal reports to communicate the results of our analysis. In addition to mortgage work, they may do legal work, estates as well as many other channels of business.

Appraisal 397
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Black households have most to gain from inclusion of rent payment data: report

Housing Wire

Racial Equity Accelerator for Homeownership, a collaboration between Urban Institute and Federal Home Loan Bank (FHLB) of San Francisco , on Monday released a report that examines how the adoption of alternative data can benefit Black households within the mortgage lending landscape.

Lending 399
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DOJ files complaint against lender for alleged use of unqualified underwriters and forgery

Housing Wire

Kang attributed the actions, at best, as a “dispute over alleged technical violations and process errors related to the underwriting of HECM’s” between 2008 and 2010. The HECM program is a reverse mortgage program specifically for senior homeowners age 62 and older.

Legal 310