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Black Americans still face massive housing barriers

Housing Wire

Nationwide, Redfin reported that 16% of Black Americans who apply for mortgages are rejected, compared with 7% of white Americans. The CFPB found that lenders engaged in deceptive business practices, including violations of the Truth in Lending Act and the Equal Credit Opportunity Act, and provided inaccurate data on mortgage loans.

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The opportunity cost of modern-day redlining

Housing Wire

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. From 2020 to 2030, the Urban Institute projects 8.5 Total Mortgage Volume Forecast, multicultural households will account for about $2.2

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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. They don’t underwrite every loan in an MSR trade,” he explained.