Items Tagged with 'mortgage lending'

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Study: Race still a major factor in mortgage lending

NCRC report shows racial and income disparities in lending in St. Louis, Milwaukee
A new study released this week by the National Community Reinvestment Coalition shows that race is still a significant factor in mortgage lending in two major U.S. metro areas. The study found that in both St. Louis and Milwaukee, more mortgage lending is done in primarily white neighborhoods compared to minority neighborhoods.
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Mortgage lending on track for best year since 2013

First mortgages, home equity loans all up in first quarter
While a recent report from Fitch Ratings suggested that 2016 could be a rough year for mortgage servicers due to persistently low interest rates, those same interest rates could lead to a banner year for mortgage lenders. It's not just refinance applications that are trending up, actual first mortgage originations were up sharply in the first quarter — to a point that 2016 could be the best year for mortgage lending since 2013.
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Ditech plots new path, launches wholesale lending channel

Follows increase in correspondent lending operation
When Ditech Financial relaunched in 2014, it laid out a three-pronged plan to establish itself back into the mortgage market, stating that it planned to launch direct consumer lending, retail lending and correspondent lending operations. The company has since merged with Green Tree Servicing and shuttered its retail division. Now, it's plotting a new way forward and launching a wholesale lending channel.
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Record low interest rates? Ha! It's still getting harder to get a mortgage

MBA report shows mortgage credit availability decreases again in June
Mortgage interest rates are nearing all-time record lows and mortgage applications are up, all thanks to the Brexit, but it looks like those figures may not lead to a huge jump in actual mortgages being taken out, because it's still getting harder to get a mortgage. Here's the sobering news.
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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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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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[Video] 5 years later, would CFPB Director Cordray do regulation any differently?

And where will he go from here?
July 21, 2016 marks the fifth anniversary of the Consumer Financial Protection Bureau. Looking back, CFPB Director Richard Cordray answered in a recent interview if he would do anything different now that he sees some of the consequences of regulation. And as far as looking ahead, could America soon be seeing him as the future vice president of America?
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Nationstar launches MrCooper.com...or maybe not?

Company's new website disappears just as quickly as it appeared
It appears that the transformation is nearly complete. Nationstar Mortgage is now one step closer to officially becoming Mr. Cooper, as the company recently launched a flagship website for its new brand: MrCooper.com. The website provides a clearer picture of what Mr. Cooper is and what it means for Nationstar. Or at least it did...until the website disappeared after HousingWire reported on it.
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Fannie Mae sets new date for use of trended credit data

After unexpected delay, latest Desktop Underwriter update coming soon
Last week, Fannie Mae unexpectedly announced a delay to the latest update to its Desktop Underwriter program. The delay was noteworthy because at the time, Fannie Mae didn't provide a date for when the use of trended credit data was going to begin. We now know the implementation date.
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