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: Goldman Sachs buys startup Clarity Money to bolster Marcus

Plus, more on the AIME/Blend partnership for brokers
It's the start of a new week, but the news couldn't wait for Goldman Sachs, which announced on Sunday it purchased personal finance startup Clarity Money (and its 1 million users) to boost its consumer-lending business Marcus. Plus, more on the Blend and AIME partnership for brokers and a new mortgage servicing rule goes into effect this week.
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For loan officers who want steady business in 2018, it’s time to embrace cash-out refinances

Lenders hoping to boost their refi business this year need to change the way they sell
Remember when it was easier to sell homeowners on refinances? Mortgage interest rates were low enough that most owners could save money each month with a traditional rate and term refinance. As interest rates have risen, that has changed and lenders hoping to boost their refi business this year need to change the way they sell. Instead of promoting the savings homeowners can get from lower interest rates, they may consider trying a new angle...
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Reimagining the mortgage lending experience

Loan Officers: It's about more than your mortgage app!
Are you talking about your new mortgage app, or your new digital mortgage app, going paperless, or portals? A lot of LOs are, which is why I believe they are completely missing the point.
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Should borrowers be charged AMC fees and appraiser fees separately?

There are two sides to mortgage lending valuations at play here
The appraisers I speak to paint the AMCs as part of some large conspiracy to nickel-and-dime their way to big profits. The AMCs I speak to believe they are vital to maintaining the arms-length regulatory requirements set forth by Dodd-Frank. Are the AMCs hiding something? Maybe, maybe not. But, there is certainly something missing.
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HW's Women of Influence nominations are now open!

Applications open through April 27
HousingWire is now accepting nominations for its annual Women of Influence awards. First introduced in 2010, this award honors women in the housing and mortgage finance industry who are changing the game. The women chosen for this award are movers and shakers in the housing economy. They may all work in different areas, such as lending, servicing, real estate and investing, but they all have one thing in common: excellence.
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King County is king, and counting

Seattle continues to lead in home price growth
Seattle's rate of real estate appreciation has topped the national charts for more than a year and, based on the latest quarterly forecast from Veros Real Estate Solutions, will stay there for the next 12 months. Here is a breakdown on real estate growth in Washington's King County.
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What lenders can learn from tax preparation software

Ways to automate, streamline and standardize borrower income calculation
For most underwriters, calculating income is a manual process, often characterized by inefficiency, inaccuracy and lack of standardization. When is someone going to be able to provide self, tax software kind of functionality for our mortgage underwriters? The answer: we’re on the precipice.
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Closing condos under litigation: Fannie Mae now gives lenders a way out

Loan Officers: Lend with confidence!
Fannie Mae finally updated their litigation requirements on condominium projects! The guidelines now allow the lender more flexibility to determine, with confidence, whether litigation is minor or major, what is considered minor, and provide a way for lenders to warrant the project despite the litigation. Here's how.
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