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Corcoran hires new SVP of global development

Housing Wire

Scott Mitchelson is joining The Corcoran Group as senior vice president of global development, the company announced on Tuesday. From 2000 to 2010, Mitchelson worked for Realogy Corp., Mitchelson will report directly to Stephanie Anton, president of Corcoran affiliates.

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How one lender is innovating to make affordable housing more accessible

Housing Wire

Change is five years into its mission as a Community Development Financial Institution ( CDFI), a mission that has seen Change soar to become the nation’s largest non-QM lender. Since 2000, the average home appreciation rate has been 4.7%, according to the FHFA. Since 2012, the average rate has been 7.7%. million in 20 years.*

Lending 381
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Guaranty Home Mortgage hires EVP to expand retail channel

Housing Wire

Founded in 1986 as Guaranty Trust , the firm started out as a local retail lender and entered the third-party origination (TPO) space in 2000. The lender offers a variety of mortgage products, including conventional, FHA, VA, jumbo, rural development loans.

Retail 375
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Risks of nonbank mortgage sellers and servicers revisited

Housing Wire

I applied a multivariate statistical analysis consistent with the one I used to develop the industry’s first FHA automated underwriting scorecard (known now as TOTAL), and the industry’s first VA scorecard during my tenure at Freddie Mac. These were 2000-2003, 2004-2008Q2, 2008Q3-2011, and 2012-2015. Specifically, the 1.9

Sellers 448
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Mortgage rate dip a welcome reprieve, but more industry consolidation is ahead: Piper Sandler

Housing Wire

The drop in prepayment speeds indicates mortgage servicing rights (MSR) amortization expense should continue to decline, a positive development for mortgage companies with large servicing fee revenue streams. This finding is in line with the financial crisis high and well above the 2000-2022 average of 3.4x.

Mortgage 404
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Stearns Lending to lay off 348 workers

Housing Wire

Founded in 2000, Guaranteed Rate sought to boost retail loan originations, scale its JV platform, and develop new multichannel capabilities by acquiring Stearns. After the deal, HousingWire reported that Stearns’ retail operations was folded into Guaranteed Rate.

Lending 363
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Guaranteed Rate to acquire Stearns Lending

Housing Wire

In a statement confirming the deal Tuesday afternoon, Guaranteed Rate said the acquisition of Stearns would enable a boost in retail loan originations and further scale its JV platform, while also developing “new multichannel capabilities.”

Lending 538