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A loan officer’s ultimate guide to appraisal modernization

Housing Wire

However, a year after the GSEs announced new appraisal modernization solutions, as they’re more widely adopted, questions arise. And as a loan officer (LO), why should I care? A look into GSE appraisal modernization efforts The GSEs have each offered appraisal waivers on eligible loans for several years.

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ESSA Bank to pay $3M to settle DOJ’s redlining allegations

Housing Wire

District Court for the Eastern District of Pennsylvania , ESSA “failed to provide mortgage lending services and did not serve the credit needs of majority-Black and Hispanic neighborhoods in the Philadelphia metropolitan area” from 2017 to 2021. According to a complaint filed by DOJ in the U.S. It is simply the right thing to do.”

Lending 272
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Nonbank lender job cuts could shorten the market downturn

Housing Wire

According to Cameron, the recent downturn has delivered the biggest and fastest rate increase in modern history — and the sharpest volume and revenue decrease the mortgage business has ever seen. billion in 2012, the company decided to shutter its business in 2017.

Marketing 339
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The fate of HUD

Housing Wire

As some independent mortgage banks have found out, a modern-day redlining allegation does not need to prove intentionality. A spokesperson for HUD said the agency could not discuss investigations or strategy of fair lending enforcement, but said that fair lending is a priority of the Biden-Harris Administration and HUD.

Insurance 340
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Compass is Guaranteed Rate’s latest dance partner

Housing Wire

OriginPoint has a Chicago address, and it is actively looking for loan officers, according to OriginPoint’s website. Guaranteed Rate and Realogy teamed up for a mortgage origination joint venture when the pair launched Guaranteed Rate Affinity in 2017. Guaranteed Rate has a similar JV with Realogy.

Brokerage 293
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Why Manufactured Housing Deserves a Fresh Look

Genworth MI Blog

Remember when loan officers avoided underwriting loans for manufactured housing for fear of low commissions, foreclosure risks, and the added complexities of underwriting those types of “unreliable” homes? The 2017 Manufactured Housing Facts report by the Manufactured Housing Institute indicates that 9% of new U.S.

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Inside the government’s feeble fight to end redlining

Housing Wire

The three agencies in charge of such reviews — the Federal Reserve , the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency — have not denied a single bank merger in 15 years. Senior administration officials claim that rooting out “modern-day redlining” is a top priority. But there was a catch.

Lending 355