Articles by Jacob Gaffney

Monday Morning Cup of Coffee: Inside the housing economy's monster news weekend

Your MBA / Fed / Fannie / Freddie / Kilauea / California housing update!
The MBA Secondary mood is so.... Plus, Texas jobs are booming, with no end in sight. New York and San Francisco startups promise to find people to co-live with each other. Plus, Fannie and Freddie risk-sharing bond performance updated. And, this person claims to have single-handedly caused the housing crisis in California. Plus, even more.
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Q&A: LoanScoreCard’s Ben Wu on the rise of non-QM lending

Lending outside of the qualified mortgage box
In a Q&A with HousingWire, Ben Wu, executive director of LoanScorecard, discusses the recent surge in non-agency/non-QM mortgage lending, the challenges in that market and how technology can be utilized to help lenders with these challenges. As Wu points out, “With more than 20 million sole proprietors in the U.S., there is pent-up demand for mortgage product that can accept income documentation other than the 'Appendix Q' requirement of QM loans.”
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Two real estate agents caught behaving badly

Two different towns, same alleged rental scam
In the first case, a Missouri City, Texas-based "realtor" tried to rent out a home they didn't own. And in the second case, out in the Hamptons, and while the real estate agent is real, the rental scam is pretty much the same.
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Fannie Mae CEO to mortgage lenders: Day 1 Certainty makes you more competitive

Is this our benchmark for efficiency?
This morning following the Fannie Mae first quarter results, CEO Timothy Mayopoulos provided an update on the program’s progress for mortgage lenders. “When we launched Day 1 Certainty, we viewed it as a journey,” he told HousingWire’s LendingLife community this morning, “We didn’t expect [it] to become universally adopted, but rather adopted overtime.”
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Citi: Mobile banking is skyrocketing

Does your lender app?
How popular are financial banking apps becoming? A Citibank survey of 2,000 adults found that 31% of app users use their financial services app more than any other app. This is proof that a digital-first mindset needs to be adopted across the mortgage-lending landscape.
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