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Mortgage industry provides commentary on CFPB’s proposed changes to QM loan definition

Housing Wire

Prior to the deadline for public commentary on Tuesday, housing industry trade groups, companies and organizations responded to the Consumer Financial Protection Bureau’s proposed rulemaking for the general qualified mortgage definition and the expiration of the QM patch in January 2021.

Mortgage 322
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USPAP Definitions of ‘His’ and ‘Her’

Appraiserblogs

The USPAP Exposure Draft Process Continues To Step Outside Their Purpose With Her / Him as the new ‘Misleading’ Debacle The general idea of definitions added to USPAP was supposed to be industry-specific nomenclature. This garbage in/out process is by design. And then it often gets removed because it was never correct, to begin with.

Legal 117
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Labor Department announces new rule to shield retirement savings

Housing Wire

The rule is designed to “protect the millions of workers who are saving for retirement diligently and rely on advice from trusted professionals on how to invest their savings,” DOL said in its announcement.

Investing 326
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NPAS launches its Pinnacle Desktop Appraisals product line

Housing Wire

Designed to cater to the needs of home equity lenders, fix and flip lenders, and bank default departments, Pinnacle Desktop Appraisals leverages the expertise of real estate professionals utilizing cutting-edge technology to streamline the collection of appraisal data while engaging local appraisers. .

Appraisal 306
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Rocket CEO talks new AI tool, changes in leadership and M&As

Housing Wire

At the same time, “human beings are not perfect creatures,” and AI is tracking human interactions as well. “The systems are designed with that dual feedback,” Krishna added. We’re definitely evaluating all opportunities in service to our strategy.”

Tools 323
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Tapping home equity in retirement has advantages and pitfalls: Harvard researcher

Housing Wire

While home equity can certainly be a beneficial tool for some seniors to deploy, it will not always be a definitive answer for every senior’s needs. HUD issued $15 million grants in mid-2022 and early 2023 designed to help with health and safety home repairs for low-income seniors. “By

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Once Upon a Time… A Housing Fairy Tale

Appraisal Buzz

We have rules, we have standards, and we all know the exact definition of value. The “official unofficial” government-related loan definition of market value is clear. Also part of the definition: Reasonable market exposure time. To find market value, I first had to carefully study that pesky definition. I was wrong.