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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News

Bombshell: Treasury now claims Fannie, Freddie bailout wasn’t loan

Calls sweep recovery for “investment”; Dodges questions on privilege
Trey Garrison
In a letter that’s going to raise more questions than it answers, the Treasury Department replied to an interrogatory from a U.S. Senator on its “third amendment sweep” of profits from Fannie Mae and Freddie Mac.
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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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Freddie Mac targets smaller investors with new non-performing loan sales

New program features smaller pools and longer marketing timelines
Ben Lane
Freddie Mac announced a new program for auctioning off pools of deeply delinquent non-performing loans from its mortgage investment portfolio. The new program will target smaller investors by making smaller pools of non-performing loans available.
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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 top nonbank lender?
Brena Swanson
loanDepot CEO and founder Anthony Hsieh's goal to be the number one 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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Forum: If housing is to break stagnation, it needs regulatory reform

Balance needed between regulation and opportunity
Trey Garrison
Home prices are rising roughly twice as fast as wages, putting pressure on potential homebuyers and heightening the risk that any uptick in interest rates could be a setback. What can be done to fix this?
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CFPB and FTC fine Green Tree $63 million for “mistreating borrowers”

CFPB: Green Tree harassed and threatened overdue homeowners
Ben Lane
The Consumer Financial Protection Bureau and the Federal Trade Commission are taking action against Green Tree Servicing for “mistreating borrowers” who were attempting to save their homes from foreclosure. According to the CFPB and the FTC, Green Tree failed to honor modifications for loans transferred from other servicers, demanded payments before providing loss mitigation options, delayed decisions on short sales, and harassed and threatened overdue borrowers. Here is Green Tree's response.
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Will this $69 door-security solution halt REO break-ins?

Armor Concepts jams the jamb
Trey Garrison
Vandalism and break-ins can be a big problem for investor-owned and REO portfolios, and one former home flipper developed a solution after he realized that alarm systems don’t really offer any protection.
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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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