Articles by Brena Swanson

Happy 5-year anniversary CFPB! Will you make it to 6?

The shaky future of the CFPB
Five years ago today marked the first day of one of the most unique and powerful regulators in government. The entity, designed to fix one of the worst financial crises in America’s history, might not be around much longer, at least not in the same capacity the mortgage industry has come to know. The bureau might want to think twice about its birthday wish this year.
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Exclusive: Guaranteed Rate offers nationwide 1% down payment program

Purchase is once again king
This program, while new for Guaranteed Rate, isn't new to the industry. If it looks familiar, it's because you've seen it in headlines already, but it might be more familiar as Freddie Mac's Home Possible Advantage program. In an exclusive interview with HousingWire, Kasey Marty, executive vice president of secondary marketing with Guaranteed Rate, explains the significance behind its new Double Match 1% down program.
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MBA: Mortgage applications flip 180 degrees

Refinance activity drops as purchase activity soars
The frenzy surrounding mortgage applications in the wake of Brexit is starting to wane as refinance applications post a slight drop in the latest report from the Mortgage Bankers Association. Instead, a different category is starting to shine: purchase applications.
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Here's the social media guide tailored just for mortgage lending

The key to client retention
$1.6 trillion. This number defines the business potential you have in mortgage originations. The trick is to use social media to beat out all the other companies in the mortgage space that are also fighting for their share. But you’re not trying to just master social media, you’re trying to harness a tool to connect with future clients and enhance client retention to grow your business. This is how you do that.
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Brexit impact makes its way to appraisal volume

Volume surges after Fourth of July holiday
It took a bit longer, but the Brexit impact finally made its way to appraisal volume. Since appraisals are ordered later in the mortgage process, it takes more time to see the true impact. The results are officially in and appraisals fell right in line with mortgage applications.
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Fifth Third Bancorp names new SVP and head of mortgages

Brings extensive mortgage expertise
Fifth Third Bancorp welcomes a new executive to lead it mortgage department. This is the same lender that announced a new zero down payment mortgage program earlier this month. Edward Robinson comes to the position prepared, bringing a solid track record of success in a variety of challenges and roles.
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This is the "largest-ever" Silicon Valley affordable housing eviction

The growing problem in California
A 216-unit complex called the Reserve Apartments will be demolished next year to make way for a development of market-rate housing, displacing roughly 670 tenants living in affordable housing. This story is the largest eviction of rent-controlled apartments to date, but unfortunately, it’s only the latest sign in a growing problem.
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ABA: Here's proof rising home equity levels are good for consumers

Demand for home loans increasing
Even before Brexit hit, mortgage rates were at historical lows, igniting a surge in demand for home equity loans at the end of last year and into this year. After the financial crisis, home equity lines of credit fell to the wayside as lenders tried to avoid new defaults, but this is no longer an issue according this new report.
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