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GAO highlights reverse mortgage counseling in new report

Housing Wire

Department of Housing and Urban Development (HUD)’s Home Equity Conversion Mortgage (HECM) counseling program was cited as an example. This program provides counseling to all applicants of the federally insured reverse mortgage program, the Home Equity Conversion Mortgage program,” the report stated.

Mortgage 298
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CFPB bans RMK Financial Corporation from mortgage lending industry

Housing Wire

RMK Financial Corporation , which does business as Majestic Home Loans , has been permanently banned by the Consumer Financial Protection Bureau (CFPB) from the mortgage lending industry following a series of repeat offenses — which occurred despite the CFPB’s law enforcement order issued in 2015. government.

Lending 355
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Trade groups have differing stances on government’s affordable housing plan

Housing Wire

In a series of policy announcements designed to address housing supply and affordability, HUD, the U.S. MBA: Risk sharing is ‘unnecessary’ Hours after the announcement was officially released, the Mortgage Bankers Association (MBA) detailed its opposition to the move in a statement from president and CEO Bob Broeksmit.

Insurance 287
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Review of MMI Fund’s reverse mortgage book sheds light on evolving HECM

Housing Wire

The evolving landscape The overall landscape of the reverse mortgage market is subject to change despite the reviewers’ attention to detail and sound predictions, the report said. Other examples include the introduction in 2015 of the life-expectancy set aside (LESA) account and the 2017 principal limit factor changes.

Mortgage 328
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Payload partners with PDS to integrate SoftPro

Housing Wire

The American Land Title Association’s (ALTA) 2021 Wire Fraud and Cyber Crime Survey noted in a third of all real estate and mortgage transactions, title insurance professionals reported cyber criminals trying to deceive employees into wiring money to fraudulent accounts. . To boot, check fraud is also on the rise.

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Opinion: Why it’s time to cut mortgage fees

Housing Wire

This debate comes at a time when mortgage rates have doubled since the beginning of the year, from around 3.5% to around 7%, giving new urgency to the need to keep mortgage fees down on all federal agency mortgage programs — not just FHA but also VA , Fannie Mae and Freddie Mac. 1 way most regular Americans build wealth.

Mortgage 247
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StreamLoan expands into insurtech with Progressive deal

Housing Wire

This article was written for FinLedger, HW Media’s new fintech focused news brand designed specifically for financial services professionals in banking, payments, insurance and proptech. This setup lets a consumer compare quotes from several insurers, including Progressive, with only one click. billion U.S.

Insurance 324