Quicken Loans CEO: The FHA has been hijacked by the Department of Justice

Quicken Loans CEO: The FHA has been hijacked by the Department of Justice

Bill Emerson tells HousingWire why Quicken is fighting back

Goldman Sachs: Expect interest rates to rise in September

Mortgages not getting any cheaper for homeowners

Why nonbanks are booming, and what kind of risk they bring

4 factors policymakers need to watch
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News

Mortgage applications fall again in last week of May

Big dip of 7.6% fueled by drop in refinancings
Trey Garrison
May finished like the rest of the month with applications falling, with the slowdown in refinancing activity being the drag. Here’s what happened.
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Former Butler & Hosch executive vice president lands at McCalla Raymer

Jim DeLoach to serve as senior counsel in new office in Mississippi
Ben Lane
McCalla Raymer, LLC announced the firm’s expansion and the opening of a new office in Oxford, Miss. Jim DeLoach, who recently served as executive vice president of the now-closed Butler & Hosch, P.A., will join the firm as senior counsel and David Flautt will join the firm as an associate.
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Title Resource Group acquires Independence Title

Increases presence in Texas
Ben Lane
Title Resource Group, a title and settlement services provider, announced Tuesday that its wholly owned subsidiary, Texas American Title Company, entered into an agreement to acquire the assets of Texas-based ITCOA. ITCOA, which is headquartered in Austin, does business throughout Texas as Independence Title.
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Zuckerberg’s housing troubles now include his neighbors

Faecbook CEO already battling a developer
Brena Swanson
While Facebook Chairman and CEO Mark Zuckerberg may rule the social media industry, he is getting into a bit of trouble in the housing sector. Zuckerberg’s former neighbors have added their names to the list of people involved in his current privacy squabble.
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Quicken Loans CEO: The FHA has been hijacked by the Department of Justice

Bill Emerson tells HousingWire why Quicken is fighting back
Ben Lane
Much of the industry scuttlebutt of late has been focused on Quicken Loans with its decision to sue the Department of Justice and the Department of Housing and Urban Development. In an exclusive interview with HousingWire, Quicken Loans’ CEO Bill Emerson said that the lender is not going to give in to the government’s pressure and tells us what's really going on.
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BAML: Agency MBS results mixed but Fannie, Freddie solid

Better performance for credit products all around in May
Trey Garrison
Total returns were mixed across securitized products in May, according to a client note from Bank of America/Merrill Lynch, with securitized credit products providing higher total returns.
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The best companies to work for in housing

Looking for a job?
Brena Swanson
If you’re looking for a job you might want to try applying to these places first. These three companies ranked on Business Insiders' 10 best finance companies to work for.
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JPMorgan Chase mortgage banker sentenced for bribery, tax evasion

Sold mortgage loans to "preferred customers"
Trey Garrison
A Texas mortgage banker was sentenced to six months in prison, followed by six months of home confinement, for her role in a commercial bribery and tax evasion scheme in selling mortgage loans to preferred customers on the secondary market in exchange for payment.
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Latest Freddie Mac high-LTV risk-sharing mortgage bond prices tight

STACR 2015-HQ2 featured loans with 80-95% loan-to-value ratio
Ben Lane
Freddie Mac announced the pricing of its second high loan-to-value risk-sharing bond of 2015, which is supported by loans with LTV ratios of 80-95%. According to Freddie Mac, the investor response to Structured Agency Credit Risk Series 2015-HQ2 was strong, and the deal priced tight compared with STACR Series 2015-HQ1.
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MBA pushes to increase diversity in mortgage lending

Announces partnership with NAHREP, hosting 2nd diversity conference
Ben Lane
In an exclusive interview with HousingWire, Bill Emerson, the chairman-elect of the MBA and the chief executive officer of Quicken Loans, said that the MBA wants to prepare the housing finance industry for the new normal of the future, which will be far different than the history of mortgage lending to this point.
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