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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

Last month, PrimeLending sued competitor First Community Mortgage, Inc. Dybvad’s professional career began in 1988 with her role as a mortgage originator at Savings of America. “She brings her high energy and optimism to work every day, inspiring all around her to achieve their very best.”

Legal 285
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UWM gave brokers big discounts to play with. It could be risky

Housing Wire

United Wholesale Mortgage ‘s (UWM) aggressive moves to gain an edge on the competition tend to provoke controversy. Attorneys interviewed by HousingWire said nothing appeared to be clearly over the legal line with the Control Your Price initiative. Ultimately, they would be denied access to mortgages.

Lending 335
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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. It all starts with the standard appraisal forms used in the mortgage process.

Appraisal 397
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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 318
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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. FICO’s failures.

Lending 381
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DOJ files complaint against lender for alleged use of unqualified underwriters and forgery

Housing Wire

The company has maintained a close working relationship with HUD for decades and was one of a select few lenders asked by HUD to participate in underwriting the first Home Equity Conversion Mortgage in the 1980s,” Kang said. The HECM program is a reverse mortgage program specifically for senior homeowners age 62 and older.

Legal 289