Washington is protecting buyers right out of homeownership

Washington is protecting buyers right out of homeownership

BPC Housing Commissioner: Give borrowers a chance to fail

2 reasons the single-family rental securitization market won’t exceed $20 billion

$1 trillion market? Not even close.

Should mortgage technology and data be universally shared?

Yes, and no
W S

The Ticker

Wells Fargo: Top homeowner misconceptions

Survey finds borrowers don’t know their options
Brena Swanson
Despite homeowners knowing that now is a great time to buy a home, many borrowers are still reluctant to do so because of uncertainty about qualifying for a mortgage or navigating the home-buying process.
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AmeriSave Mortgage to acquire CertusBank’s mortgage division

Establishes traditional retail mortgage origination channel
Brena Swanson
AmeriSave Mortgage Corporation will acquire a large portion of CertusBank’s mortgage division, allowing the company to expand and establish a traditional retail mortgage origination channel to complement its online origination platform.
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HUD, U.S. Bank resolve lending discrimination allegations

Bank refused to refinance a property on a reservation
Brena Swanson
The U.S. Department of Housing and Urban Development reached an agreement with U.S. Bank National Association, resolving allegations that they refused to refinance the mortgage of an American Indian couple in Belcourt, North Dakota, because their property is located on a reservation.
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How to digitally transform closings

Recap of last week's post regarding customer experiences
Mark McElroy

If you’re staying on par with the Lender Implementation Timeline, then that means there are only three weeks left until you wrap that phase up. Will you be finished with this phase in three weeks? 


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FHFA, HSBC reach $550M settlement over mortgages

Involves private-label mortgage-backed security laws
Brena Swanson
The Federal Housing Finance Agency announced a settlement for $550 million with HSBC North America Holdings, related companies and specifically named individuals, resolving claims that it violated private-label mortgage-backed security laws.
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Treasury to sell more of its stake in Ally Financial

Government down to 13.8% share in former mortgage lender
Trey Garrison
The U.S. Department of the Treasury today announced the completion of the first pre-defined written trading plan for Ally Financial common stock.
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Pension funds can sue Moody’s and Standard & Poor's

Credit-rating agencies in hot seat
Brena Swanson
The state Supreme Court ruled on Wednesday that California’s public employee pension system can sue Moody’s and Standard & Poor’s for hundreds of millions of dollars due to the high ratings they gave to investments that collapsed in 2007 to 2008.
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Russia’s only cat-based mortgage lender sanctioned by U.S. Treasury

U.S., E.U. up ante in standoff over pro-Russian separatists
Trey Garrison
You can still get a cat with your mortgage from Sberbank in Russia, you just can’t do business with them if you’re American.
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Consumer sentiment edges up on long-term expectations

Softness in current conditions expectations suggests flat September
Trey Garrison
Consumer sentiment is on the rise this month, climbing to 84.6 versus a final August reading of 82.5 and a mid-month August reading of 79.2 – but buried in there is a decline in the current conditions component which suggests consumer activity won’t be up in September.
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Banks hesitant to embrace mortgage solution

Nonbanks to fill in gap?
Brena Swanson
The government released a new proposal for Fannie Mae and Freddie Mac to start purchasing more low-income refinancings in order to show support for such loans. But there is one problem: banks are unlikely to jump on board with the idea.
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