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Mortgage Coach, Polly team up amid a rapidly shrinking industry

Housing Wire

Mortgage tech firms Mortgage Coach and Polly have teamed up on a new application programming interface (API) integration that guides borrowers through a visual representation of their loan options. The new API integration will feed real-time data from Polly’s cloud-based PPE into Mortgage Coach’s total cost analysis (TCA) presentation.

Mortgage 369
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Did Michael Strauss, accused of fraud, just start a new mortgage company?

Housing Wire

When industry veteran Michael Strauss abruptly shut down Long Island-based Sprout Mortgage in early July, there was uproar. There were no severance packages, and even health insurance was canceled retroactive to May 2022, leaving some on the hook for huge medical bills. Shocked employees didn’t receive their last paychecks.

Mortgage 393
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Impact of the CARES Act on mortgage servicing operations

Housing Wire

have taken advantage of its mortgage relief provisions. Thanks in large part to these programs, the sort of housing market crisis of the 2008-2009 Great Recession has thus far been avoided. How the National Flood Insurance Program’s recent extension provides stability for the housing market. Investor reporting.

Mortgage 409
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Regulator in Illinois suspends Michael Strauss, Smart Rate licenses

Housing Wire

A regulator in Illinois has suspended the MLO license of industry veteran Michael Strauss and the license for his mortgage company, Smart Rate Mortgage, essentially blocking the company from operating in the state, according to the Nationwide Multistate Licensing System (NMLS). Strauss agreed to pay a $2.45

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Auctions see high owner-occupancy rates for foreclosed homes

Housing Wire

It is counter to a popular and politically potent narrative grounded in the aftermath of the Great Recession, when large institutional investors scooped up thousands of properties at foreclosure auction. It turns out local investors are also more efficient than banks and government agencies at renovating and reselling homes.

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Finding Ginnie Mae president should be a priority for Biden

Housing Wire

The most salient Ginnie Mae responsibility is managing the government guarantee of mortgage-backed securities (MBS) that lenders issue to fund their origination of Federal Housing Administration (FHA), Veteran Affairs (VA), and Rural Development insured mortgages. Ginnie Mae currently oversees guarantees totaling around $2.1

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Fed retreat from MBS market sparks short-term uncertainty

Housing Wire

What happens when the Federal Reserve begins pulling back in a serious way from the mortgage-backed securities (MBS) market that it has helped to prop up through billions of dollars in bond purchases since the start of the pandemic in 2020 — to the point where it now holds a $2.7 You don’t know what investor demand is going to be.

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