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Items Tagged with 'lender'

ARTICLES

Drop in mortgage rates won't boost lender demand

Current refinance demand isn't sustainable
Brena Swanson
Despite a drop in mortgage rates and an increases in applications, one article argues that this looks more like a false dawn than a bright morning for mortgage lenders.
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Goldman Sachs records strong 3Q earnings

Net income rises 48%
Brena Swanson
Goldman Sachs Group was next on the earnings calendar, with its third-quarter net income surging 48% and posting the first revenue gain in over a year.
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Stonegate CEO never claimed to graduate from Indiana University

Jim Cutillo’s side of the story
Brena Swanson
The Indianapolis Business Journal published an article on Wednesday asserting that Stonegate Mortgage Corporation Founder and CEO Jim Cutillo did not earn a degree from Indiana University as the company has claimed. The problem: Cutillo never said he graduated from IU or anywhere else.
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Five years later, banks have not forgotten your debt

Americans still face post-foreclosure consequences
Brena Swanson
As Americans slowly rebuild their finances in the aftermath of the financial crisis, debt collectors are lurking around asking for money that borrowers unknowingly still owe.
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Lenders planning to start out with a manual process are underestimating the challenges
Alec Cheung

In this current transition chaos, some lenders are assuming, perhaps hoping, that existing loan origination or doc prep systems will handle the new procedures with the lender filling in the gaps in technology with staff and manual support. 


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The new standard for getting a mortgage

Small banks slowly fill in lending gap
Brena Swanson
While the big banks are still stingy on the people they choose to lend to, a small handful of banks are willing to bet on select borrowers who still have high credit scores despite a few blips on their financial history.
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Are HELOCs the next big home credit product?

Borrower and investor demand rising
Brena Swanson
With the housing market recovering and home prices steadily increasing, one mortgage product is looking more and more appealing to borrowers. And the demand might not stop there, with investors hoping to jump on the bandwagon too.
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Lenders generated $428M modifying defaulted FHA loans

FHA missed opportunities to strengthen its insurance fund
Trey Garrison
An audit of the Federal Housing Administration’s loss-mitigation program found that lenders generated $428 million modifying defaulted FHA loans, costing Housing & Urban Development.
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Mortgage servicers trend toward multiple field-service providers

Is it time to spread out the grunt work?
Lynn Effinger
With so many changes taking place in the default servicing arena, with heightened focus on regulations and compliance issues, one solution being chosen by some lenders, servicers and investors is to contract with multiple field service providers, rather than a single “national” provider.
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RPM Mortgage expands to East Coast

Acquires Regency Mortgage
Brena Swanson
RPM Mortgage acquired Regency Mortgage, a 14-branch private mortgage lender with operations in New Hampshire, Maine, Massachusetts, Vermont and Florida. This means Regency’s loan originators will have access to a larger menu of loan products, in addition to more technology and compliance support.
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