Housing Wire

DECEMBER 30, 2022

To help shed some light in this area, several of the 2022 HousingWire Vanguard honorees shared their insights on what’s happening at the federal level that’s going to affect housing this year and into 2023. The first is the overall business transformation that’s taking place in the mortgage industry. Because I am.

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Housing Wire

MAY 23, 2022

The legislation would modernize the Department of Veteran Affairs ‘ appraisal requirements by allowing desktop appraisals, and in some circumstances, waving appraisals all together. In March 2022 , the Federal Housing Finance Agency (FHFA) made hybrid appraisals a permanent fixture. The policy now expires on December 31, 2022.

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Housing Wire

MARCH 28, 2024

Modern manufactured homes are an unusual feature of today’s housing market, the rare homeownership opportunity that is both lower-cost and high-quality. Credit standards for home-only applicants are much higher than for buyers seeking a mortgage, and this helps explain the high denial rates.

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Housing Wire

DECEMBER 30, 2022

Chris Mozilo: While I’ve spent most of my 30-year career working at large firms, the most I ever learned in the mortgage business was the five years I worked at a small independent mortgage banker. At a small mortgage banker, leadership has to know all aspects of lending. in mortgage banking.

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Appraisal Buzz

MARCH 21, 2024

Jason Cave, former chief fintech officer and deputy director for the FHFA, has joined the board of advisors at Argyle , a provider of automated income and employment verifications for mortgage lenders. After launching the FHFA’s Office of Financial Technology in 2022, he introduced its first annual Velocity tech sprint in 2023.

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Housing Wire

NOVEMBER 18, 2022

Don’t be fooled by last week’s mortgage rate collapse. A combination of elevated mortgage rates, sluggish home sales and inflation continue to plague the housing market workforce, with numerous mortgage lenders and real estate startups shedding employees. Presented by: ServiceLink. Cutting hundreds of jobs.

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Housing Wire

JUNE 17, 2022

This week’s HW+ member spotlight features Amanda Hill, head of mortgage solutions at Reggora. Amanda Hill: Lenders see appraisal modernization as a top priority by Maria Volkova. It truly is time for lenders to consider how technology can improve this part of the mortgage process and reduce turn time.

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Housing Wire

MAY 1, 2023

Eligible renovations can include property preparation for natural disasters or modernization to a home’s electrical or water systems. Although PACE lending is authorized by local governments, private companies typically administer the programs, which can include marketing of the loans, managing originations, and making the lending decisions.”

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Housing Wire

AUGUST 31, 2022

The executive will be responsible for strengthening Xactus’ regulatory compliance framework and administering regulatory changes required by the credit and mortgage industries, the firm said. Since then, the firm acquired MassiveCert , a software company that provides flood zone determinations for insurance, lending and real estate in July.

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Housing Wire

JULY 28, 2022

Xactus will add flood services to its list of verification solutions with the acquisition of MassiveCert , a software company that provides flood zone determinations for insurance, lending and real estate. The terms of the deal were not disclosed. Servicers, are you prepared for hurricane season? Presented by: ServiceLink.

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Housing Wire

MAY 24, 2021

The company says the round is the largest Series A for a New England fintech and it plans to use the capital to double or even triple its staff by the first quarter of 2022. “We How modernized servicing creates customers for life. Presented by: Sagent Lending Technologies.

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Housing Wire

NOVEMBER 23, 2022

The current market downturn for mortgage lenders may be shorter than the previous cycles, mainly due to the recent rounds of workforce layoffs imposed by nonbanks. Nonbanks have more than 60% market share of mortgage industry production — and they are more likely than banks to move quickly to reduce capacity.

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Housing Wire

MAY 24, 2023

House of Representatives took the opportunity during a hearing this week to ask Federal Housing Finance Agency (FHFA) Director Sandra Thompson about a proposed change to the FICO Classic credit model, inquiring about the potential impacts on credit availability and mortgage financing for constituents. David Scott (D-Ga.)

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Housing Wire

MARCH 28, 2022

If you’re a mortgage lender, you’re undoubtedly familiar with IRS Form 4506. The IRS had initially set a deadline of March 1, 2022 to conform to their new 4506-C clean form requirements, but they’ve recently extended the cutoff date to October 1, 2022. Below are the new process requirements as of October 1, 2022.

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Clear Capital

FEBRUARY 2, 2022

It’s an exciting time in the mortgage industry, especially for appraisals. Over the past few years, leading companies from across the industry have modernized and transformed how appraisals are manufactured to streamline the lending process and improve the borrower’s experience. Copyright © 2022 Clear Capital.

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Housing Wire

MARCH 1, 2022

In January I received a text message from Dave Savage, CEO of Mortgage Coach. News just broke that private equity investor LLR Partners announced strategic investments in two mortgage technology companies — Mortgage Coach and Sales Boomerang ( click here for article ). Tech100 Mortgage Winners. Hey Clayton …” and a link.

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Housing Wire

AUGUST 31, 2023

However, a year after the GSEs announced new appraisal modernization solutions, as they’re more widely adopted, questions arise. A look into GSE appraisal modernization efforts The GSEs have each offered appraisal waivers on eligible loans for several years. How do the solutions work? Why do we need them? But you already know this.

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Appraisal Buzz

AUGUST 9, 2021

There are many facets to the appraisal business: lending, non-lending work, residential, and commercial work. Answer: the appraisers that paid attention to policy changes and the inner workings of the mortgage industry. Most appraisers that focus on federal policy are typically related to mortgage rates.

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Housing Wire

APRIL 25, 2022

But that all changed with the 2008 financial crisis, in which nonbank lenders made billions in bad mortgage loans, and, as a consequence, would eventually be placed under the supervision of the CFPB (in addition to depositories with $10 billion or more in assets and their servicers). Presented by: William Mills Agency.

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Housing Wire

AUGUST 14, 2023

Appraisal modernization is generating a lot of buzz in the real estate lending industry. Most would agree (me included) that the appraisal process is long overdue for modernization — a 2022 Fannie Mae survey showed 94% of lenders are in favor of appraisal modernization.

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Housing Wire

JANUARY 27, 2022

billion acquisition of First Midwest to close in “late 2021 or early 2022,” but it first required regulators’ blessing. alleging that the bank carried out redlining in its mortgage lending practices. ” First announced in June, Old National said it expected the $6.5

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Housing Wire

JUNE 8, 2022

The 2022 to 2024 plans will be updated annually, FHFA said in a statement, and will pay special attention to barriers to homeownership in Black and Latino communities. 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

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Housing Wire

OCTOBER 1, 2022

In the mortgage industry, the time between when a hopeful borrower submits their loan application and the loan actually closing is 50 days on average, according to the Origination Insight Report by ICE Mortgage Technology. During this period, a borrower’s credit profile may change drastically. to recover every $1 of fraud.

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Housing Wire

OCTOBER 29, 2021

Until recently, mortgage servicing was more about cash-flow math than consumer experience. The transition from originator to servicer is too often a consumer experience hiccup, and must be a primary focus of servicing modernization. The great news is that this reality is finally coming into focus for servicers as we enter 2022.

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Clients Modernization Home Improvement Technology 377

McKissock

MARCH 6, 2023

On March 1, 2023, Fannie Mae issued Announcement SEL-2023-02, which addressed several different lending-related topics. Predictably, the appraisal online community reacted to this announcement in much the same way that a vampire in a low-budget horror movie reacts when shown a crucifix.

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Modernization Valuation Appraisal Lending 72

McKissock

MARCH 6, 2023

On March 1, 2023, Fannie Mae issued Announcement SEL-2023-02, which addressed several different lending-related topics. Predictably, the appraisal online community reacted to this announcement in much the same way that a vampire in a low-budget horror movie reacts when shown a crucifix.

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Appraisal Today

NOVEMBER 24, 2023

The Surfing Appraiser Riding the Waves of Up and Down Mortgage Rates By Mark Buhler Excerpts: Riding the waves of the appraisal profession can result in a range of outcomes and emotions over time. Once again, modern brain-body science jumps ahead and teaches me things. It turns out gratitude is a tool. Even better. Unbelievable!

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Housing Wire

DECEMBER 20, 2021

While the family’s income has been cut by almost half and inflation has increased their expenses, Wilen’s primary concern is his mortgage. mortgage for 12 months, and the county where he lives paid three months of his mortgage bill as part of an assistance program. He is afraid of losing his home.

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Housing Wire

JULY 16, 2021

Seventy million dollars in seed funding is a colossal investment for an unproven tech startup, even one that promises to fully disrupt a relatively low-margin, traditional industry like mortgage lending. But this is no ordinary mortgage startup. They’re used to modern experiences with great service and digital experience.

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Housing Wire

JUNE 8, 2022

With a deadly combination of low housing inventory, reduction in refis and surging mortgage rates, consolidation in mortgage tech is expected. Businesses and entire industries tanked during the pandemic, but it created an ideal environment for mortgage tech companies, some of which rode the wave to banner years and historic growth.

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Mortgage Technology Loan Officers Investing 343

Appraisal Today

DECEMBER 16, 2022

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. December 8, 2022. To read more, click here. Worth attending.

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Housing Wire

APRIL 27, 2021

Here it is: another article about appraisal modernization. The FHFA RFI responses to appraisal modernization are a treasure trove of insight into ideas and options for modernization from a wide variety of respondents. No doubt, investment in modernization is needed in the appraisal process.

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Appraisal Today

AUGUST 5, 2022

Excerpts from the Summary: On August 1, 2022, the Veterans Affairs released Circular 26-22-13 announcing new procedures for alternative valuation methods, effective immediately. To read more about the May 2022 proposal to eliminate the fee panel , click here . VA Approves Desktops and Exterior-Only Appraisals. To read it, click here.

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Appraisal Today

APRIL 21, 2023

One-Room Schoolhouse in New Role as an Adorable Tiny Home Excerpts: The recently renovated schoolhouse was built in 1860 to serve the farming community of Elizaville, NY—a hamlet in the towns of Clermont and Gallatin, which still had fewer than 2,000 residents as of 2022. Mortgage applications decreased 8.8

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Housing Wire

SEPTEMBER 19, 2023

One of the challenges in discussing what the mortgage industry needs to do next is figuring out what’s actually coming next. Reining in costs In all of 2022 and through the first half of 2023, the average mortgage lender lost money on every mortgage it originated. This does not, however, mean digital lending has stalled.

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Housing Wire

DECEMBER 31, 2021

This article is part of our HousingWire 2022 forecast series. After the series wraps early next year, join us on February 8 for the HW+ Virtual 2022 Forecast Event. At the onset of the Coronavirus pandemic, the mortgage industry was preparing for absolute disaster. Bank Home Mortgage , said at the MBA Annual convention.

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Housing Wire

SEPTEMBER 21, 2021

Starting March 14, 2022, the Federal Housing Administration (FHA) will require all lenders to use FHA Catalyst for appraisals. The module can also accept appraisals for Home Equity Conversion Mortgages (HECMs), the administration announced last week. Learn more here! Presented by: iEmergent.

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