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Black Americans still face massive housing barriers

Housing Wire

iEmergent has outlined a new paradigm for how lenders can increase homeownership—especially to under-served and minority households—that is driven by opportunity and forward-looking, market-based opportunity data. Nationwide, Redfin reported that 16% of Black Americans who apply for mortgages are rejected, compared with 7% of white Americans.

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The opportunity cost of modern-day redlining

Housing Wire

Right now, the market is facing a unique alignment of regulatory focus, community need, and opportunity. Forecasts in the industry predict that most mortgage growth over the next several years will come from MMCTs and BIPOC communities. The future of the mortgage industry is increasingly diverse. million net new households.

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HW+ Member Spotlight: Josh Mettle

Housing Wire

This week’s HW+ member spotlight features Josh Mettle, division president at NEO Home Loans. With over 20 years of mortgage experience, Mettle has dedicated his career to the mortgage industry. Josh Mettle: It’s a tie between Mortgage Coach TCA and BNTouch CRM. I could not run my business without either of them.

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Underwriter shortage slowing the pace of private-label deals

Housing Wire

The supply-chain bottleneck afflicting the global economy has its own counterpart in the world of residential mortgage-backed securities, also referred to as RMBS. One group of industry players — loan underwriters — are the chief cause of the logjam. The private label market share of U.S. RMBS market.