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Sprout Mortgage shakes up executive suite

Housing Wire

Santos had served at Infosys for two years before his latest appointment, and previously served as the North American lending executive for IBM. LaRaia has been in the industry for over 20 years and was previously the chief compliance officer/deputy general counsel at Supreme Lending.

Mortgage 356
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Stavvy lands $40 million Series A for aggressive growth

Housing Wire

We are adding resources to engineering, security and trust, product, industry relations, legal, compliance and more. How modernized servicing creates customers for life. Presented by: Sagent Lending Technologies. The company was recognized as one of the 2021 HW Tech100 winners for its native eSign and hybrid transaction tools.

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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. In total, Home Point has shrunk its workforce from about 4,000 workers in the summer of 2021 to about 1,000 in the fall of 2022. million.

Marketing 384
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With landmark GSE equity plans, FHFA confronts legacy of redlining

Housing Wire

Both plans rely heavily on special purpose credit programs , which allow lenders to target lending to protected classes without violating the Equal Credit Opportunity Act. . “A A September 2021 request for input ahead of the equitable housing finance plans indicated the FHFA would implement the plans by January 1, 2022.

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Appraisal Risk and Modernization

Appraisal Today

Industry Insider Insight on Risk and Modernization. Joe Minnich, a condo risk consultant, spoke on how loans secured by an individual unit in a condominium project have greater risk than found in typical SFR lending. Fannie New Appraisal Form Modernization. He suggested we redefine quality to include a time element.

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Inside the government’s feeble fight to end redlining

Housing Wire

And if these agencies were to find that a merger ran counter to public interest because of a bank’s discriminatory lending practices, it’s not likely anyone would know about it. Senior administration officials claim that rooting out “modern-day redlining” is a top priority. And HUD can bring lawsuits claiming bias in mortgage lending.

Lending 370
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AVMs undergo compliance and regulation updates

Clear Capital

When Freddie Mac published the study, “ Discovery of Racial and Ethnic Valuation Gaps In Home Purchase Appraisals ” in late 2021, its conclusion, “that Black and Latino applicants receive lower appraisal values than the contract price more often than White applicants,” sent shockwaves through the mortgage industry. Valuation Equity.