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First Financial Bank to invest $700M by 2028 in affordable mortgages

Housing Wire

The deal that runs through 2028 includes more than $1 billion for community development lending and services, investments in affordable housing , revitalization and stabilization, and projects that create jobs in LMI areas. The depository is aiming to maintain at least 25% of its branches in LMI areas.

Investing 329
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Patriot Bank to pay $1.9M to settle DOJ’s redlining accusations

Housing Wire

“Patriot Bank has always acted to serve the home mortgage credit needs in minority neighborhoods, and the bank’s strong record speaks for itself and flatly contradicts any allegation of wrongdoing,” John Smith, president and CEO of Patriot Bank, in a statement. “We million investment Patriot will make, subject to court approval, At least $1.3

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Some lenders won’t survive the purchase mortgage market of 2022

Housing Wire

A seasoned retail and commercial banking salesman in Fort Wayne, Indiana, the 39-year-old Woodward joined Interfirst Mortgage as a loan officer in October 2020 after a recommendation from an old college friend. But Woodward struggled to originate purchase loans. “I Without that being built, I was starting from scratch.

Mortgage 519
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Will new products stop the bleeding for mortgage lenders? 

Housing Wire

Like its peers, the wholesale lender’s origination volume has plunged over the past year due to a dearth of refinancings and a sluggish purchase market. But the reality is Homepoint – like some of its peers – is going to lose market share as it attempts to right the ship. Homepoint is in a tough spot. Homepoint is hardly alone.

Mortgage 388
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How LOs can leverage their sphere of influence

Housing Wire

The 2023 market is unlike those we’ve seen in previous years. In a market like this, every lead, loan and basis point matters more than ever for LOs. Dave Savage , chief innovation officer for Mortgage Coach and Sales Boomerang , described today’s market as a new era in the mortgage business — the advice era.

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Does Refinancing Affect Your Taxes?

Assurance Financial

Home improvements: With a cash-out refinance, you can finally tackle those home improvements. No matter whether you want to put a new roof on your home or build an addition, when you refinance, you can free up more cash that can be put toward these renovations. Make a Capital Home Improvement.

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All You Need to Know About Reverse Mortgage Appraisals

AmeriMac

To be eligible for a reverse mortgage, homeowners must meet certain criteria set by the Federal Housing Administration (FHA) and the Department of Housing and Urban Development (HUD). These criteria include being at least 62 years old, occupying the property as the principal residence, and having sufficient equity in the home.