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  • Trump budget surprise: Gutting the CFPB

    The impact of President Donald Trump’s 2018 federal budget proposal would certainly be felt in the housing industry via the 13% cut to HUD's budget, but that’s hardly the only impactful move that the budget proposal holds. Buried on the second-to-last page of Trump’s budget is a move that is sure to please Trump’s fellow Republicans and many in the housing industry as well – gutting the Consumer Financial Protection Bureau.

Items Tagged with 'National Association of Mortgage Brokers'


Want to become a mortgage broker? Here are tips on how to get started

What are the common misconceptions?
Mortgage brokers fall into the entrepreneur/startup category of the mortgage finance world. After taking a serious hit in the aftermath of the financial crisis, the industry is seeing a rebound in interest, especially as people think about how much money they can make if they work hard. So do you have what it takes to become a broker? Here's some advice from brokers themselves on where to start.
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Here's how NAMB, UWM plan to revive the independent mortgage broker channel

Announce $500,000 KickStart program
Mortgage brokers took a major hit after the financial crisis, vacating their individual businesses and fleeing to the security of working for a bigger company. However, a new initiative announced by the National Association of Mortgage Brokers and United Wholesale Mortgage is designed to regrow the mortgage broker channel. The KickStart program offers grants to loan originators aspiring to open their own mortgage shops. Looking to start your own company? Check the details inside.
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From HW Magazine

Return of the correspondent lender

An uneven road lies ahead -- but at least there's a road to begin with
Gabe Medrano just started as the go-to guy for the correspondent lending division at NexBank, and already he is seeing something he doesn't like. In front of him early on a Thursday morning, on his computer monitor, the Dow Jones Industrial Average...
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NAMB Goes on Offensive Against JP Morgan, Dimon

The National Association of Mortgage Brokers is mad as hell, and they're not going to take it anymore. At least, that's the message that NAMB president Marc Savitt sent last week in responding to comments made by JP Morgan Chase & Co. [stock JPM][/stock] CEO Jamie Dimon after the well-known banking CEO appeared to denigrate broker-based mortgage originations in a speech last week.
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Florida Considers Capping Mortgage Brokers' Fees

Mortgage brokers are certainly enduring their fair share of criticism throughout this mess -- invective that is clearly deserved on some levels -- but, for all the slings and arrows tossed their way thus far, few brokers have yet seen their ability to earn legislated into a box. If the Florida Office of Financial Regulation gets its way, however, mortgage brokers in the Sunshine State may soon face caps on how much they can charge per transaction.
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Revised Appraisal Code Generates Conflict

A revised code of conduct for appraisals at twin mortgage finance giants Fannie Mae [stock FNM][/stock] and Freddie Mac [stock FRE][/stock] is generating a fair amount of criticism from independent appraisers, who say the new code will effectively force them to work for appraisal management companies.
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