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Review of MMI Fund’s reverse mortgage book sheds light on evolving HECM

Housing Wire

Approximately 65% of loans endorsed in Fiscal Year 2009 had an MCA of less than or equal to $300,000, and this percentage increased to approximately 72% by Fiscal Year 2012,” the report stated. As the principal limit has been increasing, the percentage of endorsements with an MCA over $417,000 has increased steadily since 2012.”

Mortgage 328
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Real Estate and Design Trends to Watch in 2024

Empire Appraisal Group

Real Estate and Design Trends to Watch in 2024 Design & Architecture , Design Trends By: Barbara Ballinger Source: [link] From ecosystem conservation to “new” darker neutrals in exterior paint, we look at the trends set to take hold in the industry this year. Land shortages make attached and stacked units smart choices.

Design 78
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SimpleNexus secures $108 million in Series B funding round

Housing Wire

SimpleNexus , a digital mortgage startup, announced on Tuesday that it picked up $108 million in a Series B funding around. The fund raise comes as the company attempts to increase its marketshare within the eClosing and mobile mortgage segments.

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With mortgage rates on the rise, here are some products originators should tap into

Housing Wire

Seeking business growth in the current rising rate environment, originators are contemplating the benefits of adding reverse mortgages to their product mix. With mortgage interest rates steadily on the rise and refinance volume dropping, originators should immediately consider tapping into products that are less interest rate sensitive.

Mortgage 351
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Blend reaches unicorn status with $75 million Series F raise

Housing Wire

This article was written for FinLedger, HW Media’s new fintech-focused news brand designed specifically for financial services professionals in banking, insurance and real estate. Fintech-focused Canapi Ventures led the investment, which brings Blend’s total venture raised to $365 million since its 2012 inception.

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More than ever, lender profitability requires maintaining pace with innovation

Housing Wire

HousingWire: As businesses of all types begin to rely more heavily on automation, is the mortgage industry doing enough to keep pace? As a CTO, I have to smile when some lending executives mention that the costs of technology in the mortgage industry are high. No wonder residential mortgage lending has wild swings in profitability!

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FHA gets a budget boost to stem staff shortages. Is it enough?

Housing Wire

The Federal Housing Administration (FHA), within the department of Housing and Urban Development , provides mortgage financing for borrowers the conventional market doesn’t serve, yet it has been understaffed for over a decade. A 2022 HUD budget report said that the Office of Housing—which includes FHA—had 2,470 employees.

Finance 347