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Home affordability plummeted in fourth quarter

Housing Wire

As a result, 77% of counties included in the report have now been labeled as less affordable by ATTOM, up from 39% of counties in the fourth quarter of 2020. The data vendor also noted that in the third quarter of 2021 , 428 counties from the same data set were labeled as less affordable, up from 224 counties in the fourth quarter of 2020.

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Fannie Mae: Policymakers should look elsewhere to improve affordability

Housing Wire

In 2020, about 4% of Fannie Mae-acquired purchase loans went to Black borrowers. Mark Palim, Fannie Mae deputy chief economist, said that he preferred not to “speculate” on “alternative borrower” profiles, and that the credit score in the profile is drawn from only those loans that were delivered to Fannie Mae in 2020. “If

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CFPB doubles down on mortgage servicing enforcement

Housing Wire

Some banks set off stimulus payments and unemployment insurance benefits in order to cover bank fees and other debts. CoreLogic’s DigitalTax Platform provides customers with a unified and consistent view of property tax data across the mortgage ecosystem. Presented by: CoreLogic.

Mortgage 464
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LRES acquires REO services firm Keystone Asset Management

Housing Wire

Its services include property valuation, REO asset management, property preservation, property tax consulting and home insurance. If we’ve learned anything in the past year, it’s that operational flexibility and accurate servicing valuation are key to lending profitability. Presented by: Black Knight.

Valuation 263
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Mr. Cooper exits reverse servicing space with sale to MAM

Housing Wire

The same day Mr. Cooper announced the initiation of the Champion sale, the company also announced that it completed the sale of title insurance and settlement services provider Title365 to digital lending software company Blend Labs, Inc. in a deal valued at $500 million in cash and retained interest.

Mortgage 381
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When borrowers ‘ghost’ their servicers

Housing Wire

Goldstone, who is president of Capital Markets & Lending at BSI Financial Services , estimates that between 20% to 25% of borrowers in BSI’s servicing portfolio have been non-communicative, he told HousingWire. One reason homeowners have not responded to the company was the foreclosure moratorium that went into effect in March 2020.

Law 339
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Institutional SFR players are stuck in the doldrums

Housing Wire

But the caveat, of course, is that all bets are off if there’s a more meaningful contraction in lending [in the wake of recent bank failures and other economic factors] because then you’re in serious trouble,” Petrosinelli added.