News

MBA president: The next President needs a housing policy director

Time to turn the page in housing
It’s time to turn a new page for housing when it comes to policy making, according to the Mortgage Bankers Association president and CEO. While the past eight years have been spent recovering from the recession, it is now time to move on, and this could include creating a new housing policy director.
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Moody’s: New GSE mortgage application positive for mortgage bonds

"Will lead to stronger loans"
Despite some disagreement in the industry, the recently announced redesigned Uniform Residential Loan Application, the standardized form used by borrowers to apply for a mortgage, should be a strong benefit to the industry. Although the industry is divided on the positive impact of the redesigned form, this new reports explains why it is, in fact, a good thing.
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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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Airbnb causes confusion in refi market

Lenders unsure how to classify Airbnb homes
Airbnb is in the news again, this time causing confusion in the refinance market. As Airbnb blends traditional homes with commercial investment, it can cross many lines, and be difficult for lenders to define.
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