Exclusive: Mortgage lender loanDepot will soon offer personal loans

New FICO program reveals credit score to risky borrowers

Idea comes from CFPB request

Is this any way to run a mortgage market?

Here's the right solution
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Lending

The Mortgage Collaborative continues building management team

Adds Rich Swerbinsky and Nancee Mueller
Ben Lane
After recently naming a new vice chairman of the board, secretary of board and chief executive officer, The Mortgage Collaborative, an independent lending cooperative serving small and mid-sized mortgage lenders and community-based lending institutions, announced the additions of Rich Swerbinsky and Nancee Mueller to its growing senior executive team.
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Affordable housing "Poor Door" creates inequality issue in NYC

Residents enter through a separate door
Brena Swanson
A recently approved Manhattan luxury condominium is generating a lot of buzz in the city since the building will have a separate door for its low-income residents. Who thought this was a good idea?
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Moody’s: New FHFA rules are credit positive for mortgage insurers

PMIERs remove “significant policy overhang”
Ben Lane
Private mortgage insurers, especially legacy insurers, are well positioned for success under the newly announced Private Mortgage Insurer Eligibility Requirements from the Federal Housing Financing Agency, according to a new report from Moody's. Click on through to find out why.
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Exclusive: Mortgage lender loanDepot will soon offer personal loans

Is this the future's top nonbank lender?
Brena Swanson
loanDepot CEO and Founder Anthony Hsieh's goal to be the No. 1 nonbank consumer lender might not be too far from reality. The lender announced it will begin offering personal loans in the next month, marking the beginning of more growth outside the world of housing. Is this the new way of nonbank lenders?
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New FICO program reveals credit score to risky borrowers

Idea comes from CFPB request
Brena Swanson
FICO isn’t done making waves in the industry. After announcing a new credit program for risky borrowers at the beginning of the month, it is working to make sure those same type of borrowers are also financially educated.
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The Mortgage Collaborative names new board members, CEO

David Kittle, Debra Still and Jim Park to serve in leadership roles
Ben Lane
The Mortgage Collaborative announced several changes to its board of directors and executive management team. After the changes, David Kittle will serve as vice chairman of the board, Debra Still will serve as secretary of board and Jim Park will serve as the Mortgage Collaborative’s chief executive officer.
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Home Point Financial expands into retail mortgage lending

Adds lending operations from Great Plains National Bank
Ben Lane
Home Point Financial, a subsidiary of Home Point Capital, a financial services holding company founded in 2014 and owned by members of management and by investment funds managed by Stone Point Capital, is launching a mortgage banking business. Here's the skinny.
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Morgan Stanley could pay $500 million in mortgage pact

Deal with NY AG still in talks
Brena Swanson
Morgan Stanley is in talks to possibly pay about $500 million to settle a probe by New York’s Attorney General Eric Schneiderman into whether the firm misled investors in mortgage bonds that cratered during the financial crisis.
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Housing advocates say FHFA g-fee adjustment not enough

NCRC: A step in the right direction, but more needed
Trey Garrison
A housing advocacy group says that the adjustments the FHFA is making to the fees it charges lenders on loans guaranteed by the GSEs doesn't go nearly far enough.
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Loan officer indicted for six counts of mortgage fraud

Scam involved multiple loan applications
Trey Garrison
A mortgage loan officer in California was indicted by a federal grand jury on six counts of bank fraud relating to a mortgage fraud scheme wherein he allegedly submitted false and fraudulent loan applications to lenders.
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