News

Now is the time — Make housing reform a priority

Exclusive op-ed from the president of the MBA
Today, MBA is releasing a plan detailing how a future secondary mortgage market can work – describing a post-conservator end state for Fannie Mae and Freddie Mac. Our proposal includes transition steps detailing how to get from here to there and is the only paper that comprehensively addresses how the reformed secondary market would serve all Americans along the broad continuum of affordable housing needs.
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MGIC net income grew 23% in Q1 2017

Company CEO says new insurance drop expected
MGIC saw an increase of nearly 23% in the first quarter of 2017. New insurance written saw losses of nearly 30% from the last quarter, however it is still up from last year, and the company CEO explained this drop was expected.
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Here's what will happen in housing and mortgages regardless of what Trump does next

This HousingWire webinar will give us a reality check
Trump news is everywhere. Most of it is speculation as to what he will do next, and what it will mean for the mortgage and housing markets. But, here's how to find out what will happen in the housing and mortgage markets regardless of what Trump does. Hurry, sign up now! Today's the day for this FREE webinar!
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Freddie Mac: Mortgage rate falls below 4% mark

Drops for fifth consecutive week
Mortgage rates fell below to 4% mark and landed at their lowest point since November 2016. As international relations grow more tense, investors are pulling out of more risky investments, bringing interest rates down further as they follow the Treasury yield.
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Mortgage Cadence to provide one-stop-shop mortgage platform

Will license FirstClose integration software
Mortgage Cadence announced its license with a new software, FirstClose, that will allow third parties to integrate with the company’s current mortgage program. Mortgage Cadence explains what this means for its platforms, for lenders and what new services it will offer.
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Ellie Mae: Average closing times now sit at lowest level in two years

Purchase market heats up
The average time to close a loan spent a lot of 2016 fluctuating around the high 40s, but this is no longer the case. The survey found that the average time now sits at the lowest level in two years. The report also found that the purchase market is heating up, as March ushers in the start of the spring home-buying season.
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Get ready: Congress fires up Dodd-Frank, CFPB overhaul

Committee hearing date set for Financial CHOICE Act 2.0
The Dodd-Frank doomsday clock just ticked a little closer to midnight. The Republican-crafted plan to overhaul the country’s financial regulatory system and overturn many provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act is now one step closer to becoming a reality, as the House of Representatives is set to consider the Financial CHOICE Act.
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Hey banks! Survey says you’re too confident in your cybersecurity efforts

The average bank faces 85 serious attempted cyber breaches annually
Cybersecurity experts are working in overdrive to caution the mortgage finance industry that cyber attacks are a matter of when, not if. However, according to a new report from Accenture, banks are still too confident about their protection efforts. Are you overestimating your company’s ability to withstand the onslaught?
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California lenders reach settlement with HUD over unfair lending charge

American Financial Network to pay Hispanic man $5,000
A Hispanic man filed a fair housing complaint against several California lenders. Now, these lenders have agreed to pay the man as well as install new fair lending training programs for their staff. HUD explained that today’s action "reflects our nation’s promise of fair housing and equal access to credit for every qualified individual, regardless of their national origin."
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