Sarah Wheeler

Sarah Wheeler

Sarah Wheeler joined HousingWire in November 2013 as Content Editor, serving HousingWire and HousingWire.com. She was promoted to Magazine Editor in May 2015. Sarah brings extensive experience in both newspaper journalism and marketing.

ARTICLES

Fannie Mae announces new programs to break through student loan roadblock

Cash-out refinance, new debt-to-income calculations spur homeownership
The level of student debt in the U.S. has spiraled over the last decade to $1.4 trillion, effectively locking out millions of potential homebuyers from the market. Fannie Mae's new programs address specific roadblocks that these borrowers face, providing a jump-start to a whole new generation of homebuyers.
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Fannie Mae close to launching larger student loan refi program: Sources

SoFi was apparently just the beginning
Fannie Mae will soon announce policy changes to address the exploding volume of student debt among potential homeowners, according to sources close to the matter. In November, Fannie Mae announced a new loan option through SoFi that allows homeowners to refinance their mortgage at a lower rate and pay down the balance of an existing student loan. Now, sources say, Fannie Mae is ready to expand that program to other lenders. And that's not all.
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Did the NSA spy on Middle East banks using the SWIFT network?

New release from hacker group suggests U.S. compromised elements of global banking system
Banks are under cyber attack from every side, including, if you believe the latest claim from the Shadow Brokers hacking group, the National Security Agency. In the case of the NSA, the latest data dump from the Shadow Brokers suggests the NSA’s motive was to surveil banking activity in the Middle East, not steal money, but any breach of security of the global messaging network could have significant consequences. 
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Here's an entirely new way to hijack a bank

Hackers controlled all operations for 5 hours
The number of ways to rob a bank is apparently limited only by the imagination of hackers, which is to say, nearly infinite. Recently, a Brazilian bank fell victim to an entirely new and dangerous form of hacking. And if you don't think that your institution could be next, it might already be too late.
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From HW Magazine

Cutting housing off at the knees

Cuts to HUD budget are short-sighted at best
Programs that create homeowners just by helping with down-payment amounts are the lowest-hanging fruit in our industry. These are people with jobs and qualifying income who just need a one-time lift from the government. But that one-time lift is not just beneficial to the new homeowners — the overall housing economy benefits as well, since homeownership begets more homeownership. 
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Here's what's wrong with the CFPB's practice of regulating through enforcement

Companies are punished just to teach the rest of the industry a lesson
CFPB Director Richard Cordray asserts that protecting consumers in financial matters involves too many bad actors trying to do too many bad things to be outlined in specific laws. As it turns out, it sounds like the CFPB might decide to take enforcement action against one particular company if they need to “send a public message of deterrence” to the whole industry. This is ludicrous.
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Monday Morning Cup of Coffee: The dark side of mortgage automation

Plus, the latest on the New York Fed's cyberheist
Lots of people, including your friends here at HousingWire, have noted that the mortgage industry is ripe for tech disruption. But buried in all the good news about efficiency, lower costs and borrower satisfaction is the potential for serious job loss. Here's a look at how the technological revolution could impact the financial services industry. All that, and much more, in your Monday Morning Cup of Coffee.
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