Articles by Jessica Guerin

From HW Magazine

September Kudos: Celebrating milestones, launches and awards in the mortgage industry

Truist Bank announces $60 billion community investment plan
BB&T and SunTrust Bank aligned forces earlier this year, emerging together as Truist Bank. Now, Truist partnered with the National Community Reinvestment Coalition to launch a three-year, $60 billion community benefits plan that will increase financial resources for low- and moderate-income communities.
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FHA loosens condo eligibility requirements for reverse mortgages

Announces long-awaited changes that will make it easier for condo owners to obtain a HECM
The Federal Housing Administration has finally issued a long-awaited update to its condominium rules, announcing Wednesday that it will allow individual unit approval and is taking other steps that will eliminate barriers for condo owners who want to take out a reverse mortgage. In all, the revised rule will drastically enhance the number of condo owners who have access to HECM financing.
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FHA to make financing easier for condo owners

Announces long-awaited changes to eligibility requirements that include individual unit approval
The Federal Housing Administration has finally issued a long-awaited update to its condominium rules, announcing Wednesday that it will now allow individual unit approval and is taking other steps to loosen requirements that make these properties eligible for FHA financing. The agency said it expects the updated guidelines to qualify up to 60,000 more condo units a year for financing.
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Fitch: GSE reform won't hurt Fannie, Freddie ratings

Ratings will remain intact, at least in the near term
With word circulating that a plan for GSE reform is imminent, Fitch Ratings Agency released a review of what might happen to the credit ratings of Fannie Mae and Freddie Mac upon the release of the Treasury Department’s anticipated roadmap. The good news for those gunning for an end to the conservatorship? Fannie and Freddie’s ratings shouldn’t take too much of a hit – at least, not right away, according to Fitch.
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House committee: Big bank leadership is mostly white, mostly male

Calls for change to improve diversity at nation's largest banks
A review of the nation’s largest banks reveals that not a single female or minority sits at the helm as CEO. This revelation was made by the House Committee of Financial Services as part of its ongoing effort to “hold big banks accountable” by monitoring diversity and inclusion. According to the committee, big banks have made some progress on their diversity efforts, there is much more to do.
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Here's what Kanye West's idea of affordable housing looks like, and why it may never be realized

Neighbors want rapper's Star Wars-inspired domes demolished
Kanye West’s venture into affordable housing may be coming to an abrupt end thanks to his angry Calabasas neighbors who are demanding the “gumdrop-shaped” prototypes be demolished. Here are photos of West’s prototypes, which sit on 300 acres of land he owns in Calabasas, California – for now.
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WSJ: The housing market is red-hot in the heartland

Small midwest markets see a jolt of action as home sales slow in larger coaster areas
After years of soaring real estate prices in popular coastal areas, demand has notably slowed in these markets as home prices have far exceeded wage growth. Now, it’s smaller, midwestern cities that are gaining all the traction, with real estate in these heartland markets seeing so much interest, prices are rising and bidding wars are commencing.
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Freddie Mac: It will be another banner year in multifamily

Low rates will spur investments, drive up originations
It looks like the multifamily sector is set to have another strong year thanks to a combination of factors that will fuel demand for rental housing. According to Freddie Mac’s midyear outlook, 2019 will see a robust rental market as the nation’s housing shortage, a strong labor market and low interest rates create a potent recipe for multifamily growth.
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Urban Institute: Launch of FHFA's single security was "flawless"

Says uniform security lays important groundwork for GSE reform
In June, the Federal Housing Finance Agency announced that its long-laid plans to launch a single security – the Uniform MBS – for loans backed by Fannie Mae and Freddie Mac had finally come to fruition. Now, with two months of UMBS in play, the Urban Institute is praising the successful launch of this “enormous undertaking,” noting the critical groundwork it lays for future GSE reform.
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Zillow taps brakes on big move into mortgages

Delays expansion until lending software is up and running
Just five months ago, Zillow Group announced it was officially entering the mortgage arena with the launch of Zillow Home Loans. Since then, the real estate giant has been working on the development of its own mortgage software, but it seems the platform’s creation is taking longer than expected, with Zillow CEO Rich Barton saying Thursday that the company plans to slow hiring for Zillow Home Loans until the software is officially up and running.
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