REwired

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

Monday Morning Cup of Coffee: MBA president calls for action on National Flood Insurance Program

MBA's Stevens calls on mortgage industry to rise up
MBA president calls on industry to act on NFIP reauthorization, latest GDP estimates show continued growth, Northpointe Bank introduces a private-label mortgage solution, and according to one list, Millennials are killing banking, homeownership and… fabric softener? Click on to read more in this week’s Monday Morning Cup of Coffee.
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loanDepot CEO Anthony Hsieh shuts down 10 rumors about his company

Writes straight-forward post on LinkedIn
Anthony Hsieh is the founder and CEO of one of the most prominent nonbanks in the industry, loanDepot. For a CEO of a company that has funded more than $100 billion in loans since its inception, he regularly opens up a seat at the table for others to listen in on what it’s like to be at the helm of one of the biggest mortgage companies. Anyone who follows Hsieh on LinkedIn is privy to this. This latest post, in particular, caught a lot of attention.
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Here are 6 ways for you to win a loan-backed bid in a sea of cash buyers

And mend your broken heart
[Commentary] Over the last five years, cash buyers – most of whom are out-of-state investors looking to convert homes into rental properties – have begun to disrupt the loan-dominated financing model and give families looking to buy homes a real run for their money. And most of the homes they are taking are the ideal choices for first-time homebuyers. So what options are there for buyers looking to compete against all cash buyers?
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Everything you need to know about eMortgages

Digital mortgage 101
[Commentary] Digital mortgages are (once again) a hot topic for the mortgage industry. However, we mortgage professionals are rather fond of dropping terms like "e-closing," "e-mortgage," "e-sign" and even "e-vault" or "e-note" almost interchangeably. Some look at the solutions currently available as "cradle-to-grave" when they actually only touch on the loan application process. So what exactly is an e-mortgage?
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Monday Morning Cup of Coffee: New Mexico warns of scammers pretending to be Nationstar

Wells Fargo accused of ripping off mom-and-pop businesses
Borrowers and lenders, here is your warning! Reports of mortgage scams and financial hackers keep making it to HousingWire’s headlines. The latest attack involves well-known mortgage company Nationstar. In other news, Wells Fargo is in the headlines again. This time the mega bank is being accused of ripping off vulnerable mom-and-pop businesses. Details on all of this and more inside.
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The democratization of data

"Indicizing" masses of industry information
[Commentary] We need to take a page from the proven model of home price indices and put it to work in other data-heavy aspects of the mortgage industry. Consider the possibilities. Imagine an index that can match the granularity of an HPI like Black Knight’s, but – instead of looking at home prices – is focused on other critical factors; loan originations or mortgage performance, for example.
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It starts with rental housing: 3 key considerations for housing finance reform

Housing finance reform is long overdue
[Commentary] Housing finance reform may be making its long-awaited comeback on Capitol Hill. It’s been nearly nine years since the federal government first placed Fannie and Freddie under conservatorship. Housing finance reform is long overdue. If Congress can get it right, it will be well worth the wait. Lawmakers should consider three critical points.
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Monday Morning Cup of Coffee: Lenders closing low down payment mortgages at 7-year high

[Photos] Expanding Florida sinkhole condemns another two homes
This MMCC is jam-packed! NAR warns of yet another phishing text scam to Realtors. Also, the Trump administration announced reducing the mortgage interest tax deduction isn’t off the table. But it could always be worse. You could lose your home entirely to a Florida sinkhole.
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Who owns the data relating to an appraisal?

The appraiser, the AMC or the homeowner?
[Commentary] Being part of a webinar panel for HousingWire recently the discussion revolved around AMCs, fees and eventually technology. Some cogent questions were raised about who owns the data relating to an appraisal as well as how technology will change the industry. In my personal opinion and this is varied, the data belongs to the client.
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