REwired

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Open commentary on everything impacting the U.S. housing economy. The opinions expressed here represent the author's alone.

Boise poised at the right angle for housing growth

Idaho's biggest MSA mixes population growth and low unemployment for strong projected appreciation
Treasure Valley, indeed! The data used for the VeroFORECAST shows the Boise-Nampa MSA has a very tight 1.7 months supply of homes, meaning that if no listings were added and demand continued at the current rate, everything currently for sale would be gone in about seven weeks. 
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Mortgage applicants may not always be intentionally fraudulent

Lenders should arm themselves to know the difference
[Op-ed] Information is shared rapidly but information is only information. It does not mean it is accurate information. Investigation is usually warranted. Communication is key. Speak to colleagues, managers, borrowers, title, and ask questions about anything that doesn't make sense. 
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Time’s Up: Yes, it’s happening here, too

How do we move forward?
The #TimesUp and #MeToo movements have swept across the U.S. as more women begin to stand up and say no more. Within the mortgage industry, the topic has been able to stand in the shadows, and no one really knows how common the behavior actually is. That is, until now.
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Tip for mortgage lenders and compliance officers: A weaker CFPB means stronger state regs

What can lenders learn from recent AG settlements in Massachusetts and California? 
[Op-ed] Perhaps no one rejoiced more than mortgage compliance officers at the change in leadership and tone (no more “regulation by enforcement”) at the CFPB. However, before you break out the Champagne, consider that regulators in trend-setting states like California, New York, and others now see a need to ramp up efforts to fill a perceived gap.
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How to detect mortgage wire fraud before it is too late

A day-by-day look at a fraud case
Wire fraud victims have few options once they discover they’ve been had. But when minutes mattered, one Michigan homebuyer enlisted the help of a few friends—and made a recovery. In this play-by-play summary of a mortgage wire fraud, Thomas Cronkright walks through a timeline of a wire fraud, from discovery to resolution.
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MBA Secondary prepares to hit the big topics

GSE reform, digitalization, government lending
Day two, and the first full day of sessions, is off at the Mortgage Bankers Association Secondary conference in New York City. The MBA began its opening session Monday as Fox Business Network host Trish Regan interviewed MBA CEO Dave Stevens for a retrospect on his career in what will be Stevens’ last appearance on this stage.
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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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Are we headed for a housing slowdown this summer?

Will mortgage rates at recent record levels drive down home buying?
Mortgage interest rates just hit the highest level in seven years, but those in the lending trenches already knew that, right? That news shouldn’t come as a surprise to those of you who live and breath the mortgage business. But what about everybody else? Is that sticker shock going to drive some prospective buyers to remain prospective buyers this summer?
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Movement Mortgage CEO: Robots will not replace loan officers

"You can't automate empathy"
In the most recent episode of “The Winner’s Circle”, HousingWire Editor-in-Chief Jacob Gaffney discusses a range of issues with Movement Mortgage CEO Casey Crawford, from how to increase black homeownership to how technology is changing mortgage lending. When asked about the application of artificial intelligence and automation in lending, Crawford said he anticipates that every tactical element is going to be automated but he reminds us that there is no replacement to human interaction.
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Your favorite mortgage finance publisher is upgrading, in more ways than one

HousingWire CEO: As mortgage industry evolves, so do we
The economy and housing market both look good as we head into, what should be, another robust summer home sales season. At HousingWire, our mission is Moving Markets Forward. To help our readers and clients continue to put buyers in homes, win market share and build successful businesses, we’re making some serious investments.
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