Articles by Brena Swanson

MBA: Mortgage applications post quiet start to 2017

First report of the year with no holiday adjustment
Mortgage applications barely moved, starting off the year only slightly increasing. This week’s report marks the first one of the year with no holiday adjustment since last week’s report included New Year’s. Most notably, the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances fell to its lowest level since December 2016.
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SoFi officially licensed to lend in New York

State estimated to be future No. 2 market for SoFi
After roughly a year to get finalized, SoFi officially received its license to lend in New York, which is one of the most difficult states to acquire a license in, Michael Tannenbaum, SoFi’s chief revenue officer, said in an interview. And now with New York under it's belt, Tannenbaum touches on a strong mortgage future ahead for SoFi.
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Ellie Mae names PwC premier consulting partner

Part of Ellie Mae’s Pro consulting partner program
PricewaterhouseCoopers joined Ellie Mae’s Pro consulting partner program as a Premier Partner. The premier level is offered by invitation only, with PwC being Ellie Mae’s first Premier Partner in the program. This is what the two companies hope to achieve though their partnership.
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Senate Democrats to Trump: Do not fire CFPB director, you've been warned

"Why would Trump want to go after the bureau in his first week of office?"
Senate Democrats are adamantly fighting back against growing calls for President-elect Donald Trump to fire Consumer Financial Protection Bureau Director Richard Cordray. This time around Senate Democrats held a press call to emphasize the importance of Cordray and what the consequences would be if Trump attempted to fire him.
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Movement Mortgage CEO: Steven Mnuchin was not a "foreclosure king"

Makes a nice soundbite, but simply isn’t true
Senate Democrats dubbed Trump’s nominee to lead the Department of the Treasury, Steven Mnuchin, the "foreclosure king." However, Movement Mortgage CEO Casey Crawford says while this makes a nice soundbite, it simply isn’t true. Given that everyone is focusing on Mnuchin’s participation in the foreclosure crisis, Crawford penned a blog for The Hill to try and put an end to everyone calling Mnuchin the “foreclosure king” and instead give him the credit he deserves.
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Moody’s reaches $864 million settlement over RMBS credit ratings

Settlement dates back to financial crisis
Moody’s Corp. agreed to pay nearly $864 million to settle claims for its role providing credit ratings for Residential Mortgage-Backed Securities and Collateralized Debt Obligations that contributed to the financial crisis. "Moody’s failed to adhere to its own credit rating standards and fell short on its pledge of transparency in the run-up to the Great Recession," said Principal Deputy Associate Attorney General Bill Baer. 
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Here’s the U.S. Treasury’s advice on how to level the mortgage playing field

Three-part blog series
Right as Washington is about to switch over to a Republican leader after eight years with Pres. Obama at the helm of the nation, the U.S. Treasury communicated its parting thoughts on reforming the housing finance system. Here’s the final piece of a three-part series from the Treasury, this time focusing on an equal playing field for lenders.
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[Charts] A look at FHA mortgage insurance premiums through the decades

Where does the MIP sit today?
Up until this year, the Federal Housing Administration has not reduced annual mortgage insurance premiums since January 2015. But even the 2015 reduction came in a series of increases and reductions that have taken effect since 2010. Before the increase in 2010, there was a long standstill in mortgage insurance premiums, which the Mortgage Bankers Association puts into context in its latest chart of the week.
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Arizona police arrest, charge suspect with murder of Realtor Sidney Cranston

Suspect managed Cranston’s rental properties
Shortly after discovering the remains of Arizona Realtor Sidney Cranston Jr., 40, who went missing nearly 18 months ago while showing a property, the police arrested a suspect and charged him with murder in the death of Cranston. The suspect is a friend who managed Cranston’s rental properties and owed him money.
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Trump eyes former Rep. Randy Neugebauer to eventually lead CFPB

"No other candidates are being looked at yet"
The uncertain future of the Consumer Financial Protection Bureau isn’t stopping President-elect Donald Trump from weighing his options for a future director to oversee the financial regulator. And the person Trump is currently eyeing, former Rep. Randy Neugebauer, R-Texas, has ties to the CFPB that go way back.
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