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The opportunity cost of modern-day redlining

Housing Wire

Modern-day redlining persists, and it’s costing lenders millions in legal fees. trillion in purchase dollars over the next five years, presenting opportunities lenders can’t afford to miss due to antiquated strategies that fail to account for the changing face of America’s homebuyers. More recently, Patriot Bank paid $1.9

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Lenders can reduce costs per loan by up to $258 per file using the Reggora Appraisal Management Platform

Housing Wire

With so many costs and slowdowns being attributed to inefficient appraisals, the opportunity that online appraisal presents is enormous, leaving no room for lenders to forsake fintech solutions that focus on this pivotal part of the process. And those numbers add up when it comes to profit loss.

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Mortgage Coach and Sales Boomerang unify, launch “TrustEngine” platform

Housing Wire

TrustEngine, led by CEO Rich Harris, said borrower intelligence platforms are rapidly gaining traction as mandatory technology for modern mortgage lenders. The platform automatically measures conversion at the branch and individual level across various loan types and suggests borrower outreach strategies across the lifespan of the loan.

Mortgage 309
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State of the mortgage industry half-time report

Housing Wire

However, the lenders and loan officers who will be most successful in the second half of 2022 will be those who pivot quickly, understanding both the nuances of the market and the best strategies to help solve problems for today’s homeowners, homebuyers, homesellers, Realtors and financial advisors.

Mortgage 366
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Another lender settles redlining accusations with DOJ

Housing Wire

The DOJ said that all of Lakeland’s branches were located in majority-white neighborhoods and that its loan officers did not serve the credit needs of Black and Hispanic neighborhoods in and around Newark. Presented by: FormFree. Attorney General Merrick Garland said in a statement.

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Lisa Moriello talks tech, 2024 HECM limit and openness to reverse mortgages

Housing Wire

Lisa Moriello “Any loan officer can run a report in their own database to calculate when someone’s date of birth hits that prime age [for a reverse mortgage],” Moriello said. 1, the limit for HECM loans was increased to $1,149,825 by the Federal Housing Administration (FHA). 2024 HECM limit On Jan.

Mortgage 327
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Angel Oak Home Loans adopts SimpleNexus’ platforms for agency and non-QM lending

Housing Wire

Meanwhile the mobile app Nexus Engagement, which connects borrowers, loan officers and real estate agents, aims to capitalize on customers’ pre-application phase to convert more leads to closed loans. Its core features include an integrated home search, loan payments calculator and the ability to begin a loan application.

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