Lending

Blend and The Mortgage Collaborative partner to help more lenders go digital

Small, mid-sized and community lenders can now better access technology
The Mortgage Collaborative and Blend announced a partnership to bring the digital experience to a network of small, mid-sized, and community-based lenders. As a 2017 HousingWire Tech 100 winner, Blend is a Silicon Valley technology company that’s helping bring mortgages into the modern age. The Mortgage Collaborative is the latest lender to step up to the growing digital demand in housing.
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Airbnb agrees to let California conduct fair housing tests on hosts

Short-term rental site's users now subject to fair housing rules
California homeowners who rent out their properties on Airbnb could now potentially be the target of fair housing investigations, thanks to an agreement between the short-term rental website and the California Department of Fair Employment and Housing. Here are the details.
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Moody's: Canadian lumber tariff may take up to 6 months to impact U.S. homebuilders

Chart breaks down where the impact hits home prices
The Trump administration recently announced a tariff on Canadian softwood lumber imported into the U.S. to address a long-standing issue between the two countries. And while Canadian lumber producers, as intended, will feel the impact immediately, so will U.S. homebuilders. The main difference is that it could take U.S. homebuilders up to six months to feel the financial blow.
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Democrats fight back against Dodd-Frank replacement act

Host hearing against "the Wrong Choice Act"
Financial Services Committee Democrats are not going to let the Republicans easily shut the door on discussing the Financial CHOICE Act. Right now, the Financial CHOICE Act is the Republican-led act to replace the Dodd-Frank Wall Street Reform and Consumer Protection Act. Democrats prefer to call it the "Wrong Choice Act." This uncommon hearing was scheduled to give their feedback on the controversial act.
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Housing industry praises Trump's selection of Pam Patenaude as HUD deputy secretary

Support comes in from all sides
For those in the housing industry, Pam Patenaude’s name is well known. So, it should come as no shock that the housing industry supports the Trump administration’s nomination of Patenaude to serve as the HUD deputy secretary. Declarations of support for Patenaude came in quickly after the White House’s announcement of her nomination, including from some of the housing industry’s biggest groups, and from Patenaude’s potential boss at HUD.
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Ellie Mae revenue jumps 26% in first quarter 2017

Despite industry mortgage volume declining
Ellie Mae powered through industry declines in mortgage volumes and recorded a strong boost in revenue for the first quarter 2017. As industry wide mortgage volume declined by 34% from the fourth quarter, Ellie Mae managed to grow its revenue by 26% in the first quarter.
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Consumer optimism sees slight uptick in April

Partisan divide subsides significantly
Consumer optimism edged up slightly in April, but not quite as high as the beginning of the month. Independents are more confident in the economy, and Republicans and Democrats are beginning to converge as the partisan divide slowly heals.
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Trump picks Pam Patenaude to serve as HUD deputy secretary

Currently serves as president of the J. Ronald Terwilliger Foundation
HousingWire Woman of Influence Pam Patenaude was originally shortlisted to serve as the Secretary of the Department of Housing and Urban Development. That position ended up going to Ben Carson, as HousingWire first reported. Now in another HousingWire first, President Donald Trump plans to install Patenaude in the true position of power at HUD – deputy secretary.
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Feds seek fugitive who fled after being convicted in $16 million mortgage fraud scheme

Oscar Ortiz charged with failing to appear for sentencing
Nearly a year ago, Oscar Ortiz, a 53-year-old contractor from the Houston area, pleaded guilty to conspiring to commit bank, mail and wire fraud for his role in a $16 million mortgage fraud scheme. Ortiz was due in court this week to receive his sentencing for that conviction, but when his sentencing hearing began, Ortiz was nowhere to be found.
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