Lending

Mid America Mortgage to correspondent lenders: We'll buy your eNotes

Recent survey showed dearth of willing investors in digital mortgages
A recent survey conducted by Fannie Mae and Freddie Mac showed that one of the obstacles preventing the mortgage industry from going fully digital is a lack of investors willing to buy digitally created mortgages. But now, there’s one more investor willing to buy a digital mortgage note.
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Hillary Clinton reportedly adds former CFPB assistant director Rohit Chopra to transition team

Politico: Outspoken critic of student loan debt issue set to join Clinton's team
Hillary Clinton, the former Secretary of State and current Democratic nominee for president, is adding one of Sen. Elizabeth Warren’s close allies and a former executive at the Consumer Financial Protection Bureau to her transition team as she prepares for the coming election.
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MBA: Acquisitions will heat up over next 2 years

Moving towards more consolidated market
The Mortgage Bankers Association’s chief economist explains why there is an increasing trend in mergers and acquisitions, and what will happen in the next two years. One major factor could be holding up profitability in 2016, but it won’t stay that way for long.
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Fed continues to send signals on looming interest rate hike

So, what does it mean for the mortgage market?
It appears that the Federal Reserve is continuing its tact of jumping through as many hoops as possible to prepare the market for the potential of another rate hike. So, what happens to the mortgage market whenever the Fed actually does raise rates? Here are a few insights.
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Independent mortgage bank profits surge, more than double 1Q

What TRID impact?
Not only did the industry recover from the financial storm caused by TRID, but looking at the latest mortgage banker profit results for the second quarter of 2016, it’s almost like it never existed. This is good news for independent mortgage banks and mortgage subsidiaries of chartered banks as profits surge to new highs. Are you seeing the same trends and growth in your business?
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Former MGIC CEO William Lacy passes away at 71

Spent 28 years with company, served as CEO for 12 years
William Lacy, who served as chief executive officer of Mortgage Guaranty Insurance Corporation for 12 years, passed away Sunday at the age of 71, the company announced Monday. According to MGIC, Lacy, who retired as chairman and CEO in 1999 after spending 28 years with the company, died of respiratory failure.
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Colony Starwood Homes sells off massive non-performing loan portfolio

Announces sale of 1,675 non-performing loans for $265 million
One of the largest owners of single-family rental homes is getting out of the non-performing loan business, as Colony Starwood Homes announced Monday that it is selling off a massive portfolio of non-performing loans, basically closing the book on its NPL business.
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Florida court upholds city's rights to place liens on zombie homes

Cities' liens on foreclosed properties aren't extinguished when home is sold
In a move that should help municipalities within the state of Florida fight against the state’s glut of zombie foreclosures, a state appeals court ruled recently that liens placed on foreclosed homes by the city are not discharged when the home goes through a judicial sale. Here's a closer look at the decision.
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