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Change Lending keeps CDFI certification after agreement with US Treasury 

Housing Wire

Non-bank originator Change Lending will continue to originate non-qualified mortgages ( non-QMs ) for underserved borrowers after it reached a tentative deal with the U.S. Department of Treasury that would keep the firm certified as a Community Development Financial Institution (CDFI).

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Narrow Gauge Capital acquires Inco-Check

Housing Wire

With NGC’s acquisition of Inco-Check, the company aims to enhance loan quality and prevent fraud in a competitive mortgage and consumer lending market, Inco-Check said. and Keefe, Bruyette & Woods served as financial advisors to Inco-Check Winston & Strawn served as legal counsel to NGC. Terms of the deal were not disclosed.

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The housing industry’s disparate impact hopes

Housing Wire

Mortgage industry groups on Tuesday made their voices heard in response to the Department of Housing and Urban Development ’s proposed reinstatement of its 2013 disparate impact rule. The argument for the higher threshold for claims arose following a 2015 Supreme Court decision which upheld the disparate impact regulation.

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ROV (Reconsideration of Value) Changes – FHA and GSEs

Appraisal Today

These policies were the result of a collaborative effort between the GSEs, the Department of Housing and Urban Development (HUD) and the Federal Housing Finance Agency (FHFA). There is administrative time involved, as well as legal factors. From 2015 to 2018, there were 5 significant fires. First, the burden on borrowers.

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CFPB vows to protect LGBTQ borrowers under ECOA

Housing Wire

The Consumer Financial Protection Bureau (CFPB) announced Tuesday it will be watching out for any potential lending discrimination based on sexual orientation or gender identity, vowing to protect LGBTQ borrowers. “As a former mortgage banker and professional for nearly a decade, this is a welcome change of pace.

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Navigating the Appraisal Process – What You Need to Know

Simonson Real Estate

The appraiser’s role is to provide arm’s length, third-party, neutral, and impartial opinions about the value of real property and provide assistance to those who own, manage, sell, invest in, or lend money on real estate. Helpful information includes tax parcel numbers, legal descriptions, number of buildings, building size, etc.

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Helping Lenders Navigate the Commercial Real Estate Appraisal Process

Simonson Real Estate

Having worked with many different lending institutions completing new construction and planned renovation assignments, think of this article as a “best practices” reference to be shared with new lenders, credit analyst team members and borrowers navigating the commercial appraisal process for the first time. Prospective Values.