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REwired

Here's how the new overtime labor law will change the housing industry

Salaried employees making less than $47K must be compensated for anything over 40 hours
Starting Dec. 1, 2016, overtime will have a whole new meaning since the White Collar Exemption salary threshold is about to jump by more than 100%. There’s just over two months until this law goes into effect, and with the housing industry projected to boom up to $2 trillion this year, the need for overtime isn’t going away anytime soon. Something will have to give.
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Got tough questions about the CFPB's 900-page mortgage-servicing rule?

HousingWire gets you the answers
Hurry! This webinar is this afternoon at 1 CST! For those wondering if the Consumer Financial Protection Bureau’s mortgage-servicing rule is published in the Federal Register yet, the answer is no. This gives the industry a little bit of extra time to digest all the details that are in the final rule. Luckily, HousingWire is hosting a Q&A expert webinar to make sure you have all the information you need to fully comply with the rule and properly conduct business.
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Conference dispatch: The overall non-agency mortgage market struggles, successes

A take on two conferences
Last week, owing to an apparent breakdown in internal communications, one of the industry’s leading conference producers held two competing securitization conferences on the East and West coasts. A few determined conference goers, including Mark Hughes, executive vice president with Clayton Holdings, racked up frequent flyers miles to attend both, giving HousingWire the scoop on what went on.
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Here’s proof Airbnb is destroying the New Orleans housing market

An inside look into HousingWire’s coverage
Airbnb is on the rise, but is it destroying any local housing markets in the U.S.? A story in the September edition of HousingWire’s magazine gives compelling evidence that it is — at least in the first metro we selected to review. This evidence is so compelling, in fact, that HousingWire is now making an unprecedented decision to bring the story to you.
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Pavaso blog header revision 2

Closing Call

Taking ID verification to the MAXX

New tool lets lenders validate borrower's identity, character references
With its latest tool, IDMAXX, Pavaso has enabled lenders to achieve two aims with one solution. By leveraging a borrower’s network for both identity verification and character references, lenders can be assured that 1) the borrower is who they claim to be and 2) the total picture they have of that borrower, and the risk that borrower may pose, is accurate and complete.
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Redefining when the mortgage process starts

It's not what you think
Traditionally, there is plenty of jockeying for position amongst the differing players in the real estate transaction, particularly between lenders and realtors, over who owns the relationship with the consumer. Be warned: There isn’t going to be any place for that kind of possessiveness in the post-TRID market.
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The production challenges beyond TRID

Transitioning to a digital space
If the mortgage industry is serious about addressing the longer closing times created by TRID, not to mention attracting millennials as potential homebuyers and/or employees, it has got to get with the times. And the times? They are digital.
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A new era of solutions

Recapping last week's posts and tech progress this year

Solutions exist today that can help with a large majority of the business process shifts that will result from the rule. And the last year has provided an opportunity for them to solve things further.  


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