Lending

House Democrats push Equifax to provide more protection for data breach victims

Want Equifax to provide three years of identify theft protection
In the wake of the massive data breach that exposed the personal information of 145.5 million U.S. consumers to hackers, Equifax offered to provide a number of services to the affected consumers, including one year of identity theft protection. But, in the eyes of all 19 Democrats on the House Committee on Oversight and Government Reform, Equifax is not doing enough to make those consumers whole again.
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Movement Mortgage after company layoffs: We are not reducing our staff

Lays off 75 employees, but total employment increased by 201 jobs
Monday, reports began to circulate across news outlets that last week, Movement Mortgage quietly laid off 75 of its employees from various offices across the U.S. However, the company explained that it is not reducing its staff, and its overall employment increased by 201 net jobs over the past 12 months.
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Nationwide adoption of online notarization just took a big step forward

Nation’s secretaries of state adopt regulatory standards
One of the main things standing in the way of a fully digital mortgage in many states is the requirement for a notary to witness the signing of the mortgage closing documents. Currently, only four states allow online notarization, but it appears that the push to take online notarization nationwide is about to take a huge step forward.
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Loan Officers: Teach your Realtor partners how to fish

On Facebook, that is
[Op-ed] What I always tell my MLOs, is teach your Realtors how to fish. What do I mean by that? Simply stated, is that instead of giving them that "one-off lead," teach them a strategy or tactic that will get them multiple leads per year. In this case, learn how to do Facebook Lead Ads for Real Estate.
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TransUnion: Mortgage delinquencies reach lowest level since recession

New mortgage account balances reverse trend, decrease
The serious mortgage delinquency rate decreased in the final quarter of 2017 to the lowest point since the Great Recession. TransUnion explained this largely reflects recession-era defaults having worked their way out of the system and recent originations being underwritten to a very high standard.
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Mortgage debt surges in fourth quarter

But market still showing signs of recovery
Mortgage debt surged in the fourth quarter of 2017 but remains far from its previous peak level. The report explained that unlike overall debt balances, which surpassed their previous 2008 peak last year, mortgage debt remains 4.4% below its peak level.
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MBA boosts commercial/multifamily team with pair of hires

Adds Sharon Walker as AVP, Andrew Foster as director
The Mortgage Bankers Association recently enhanced its commercial/multifamily team with a pair of experienced hires. Sharon Walker joined the MBA in late January as the associate vice president of multifamily. Also joining the MBA is Andrew Foster, who will serve as director, commercial/multifamily.
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Fed’s Powell reportedly names two senior advisers

Names monetary policy specialists Jon Faust and Antulio Bomfim to senior adviser roles
Recently confirmed Federal Reserve Chairman Jerome Powell has reportedly made his first staff moves, naming monetary policy specialists Jon Faust and Antulio Bomfim to senior adviser roles. Both Faust and Bomfim have previously held roles at the central bank.
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