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  • FHA will not cut mortgage insurance premiums

    The Federal Housing Administration released details on the health of its flagship Mutual Mortgage Insurance Fund on Thursday, revealing a positive economic net worth of $34.86 billion and an acceptable ratio of capital reserves at 2.76%. The numbers are markedly better than last year, but FHA Commissioner Brian Montgomery said that doesn’t mean the agency will be reducing mortgage insurance premiums any time soon. Click the headline to read more.

Items Tagged with 'Flagstar Bancorp'

ARTICLES

  • Flagstar appoints new SVP of its retail mortgage business

    Scott Bristol will also serve as national production manager
    Flagstar Bank announced Wednesday that Scott Bristol has joined the company as senior vice president and national production manager of its retail mortgage business. In this new position, Bristol will optimize Flagstar's platform to support its loan officers in their expanding business.
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  • Comeback kids: Is it time for the return of the joint-venture?

    Relaxing regulations and competitive market conditions could bring favor back to the JV
    The return of the joint venture might be nigh upon us. Last week, the Federal Reserve lifted its hand off of Flagstar Bancorp, terminating its Supervisory Agreement with the company. Could this be indicative of sea-change for the mortgage lending industry?
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  • Monday Morning Cup of Coffee: Facebook responds to HUD’s housing discrimination allegation

    Social media giant says discrimination is prohibited by site’s policies
    In case you missed it late Friday, HUD accused Facebook of allowing a modern, technologically enhanced form of redlining, wherein Facebook allows advertisers to use its mountains of data to target housing ads to very specific audiences. Here, the company responds. That, and more, in your Monday Morning Cup of Coffee.
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  • Flagstar expanding in California with new acquisitions

    Buying 8 Desert Community Bank branches
    Earlier this year, the company acquired Stearns Lending’s delegated correspondent lending business and Opes Advisors, a full-service mortgage bank and financial advisory firm. The Opes Advisors acquisition positioned Flagstar to grow its lending business in the Western part of the U.S., and now, the company is making another move to grow its business on the west coast.
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  • Flagstar rolls out zero-down mortgage with closing cost aid for low-income borrowers

    Bank will also provide up to $3,500 for closing costs
    Flagstar Bank is targeting low- to moderate-income borrowers with a mortgage offer that’s seemingly too good to be true. The program, which Flagstar introduced earlier this week, requires no down payment from the borrower and also provides the borrower with closing cost assistance. Here are the details.
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  • Flagstar breaks into RMBS market with “high-quality” first offering

    Closes $444 million securitization of jumbo prime, high-balance conforming loans
    Flagstar Bancorp is officially in the mortgage securitization business, as the bank announced Monday that it closed its first residential mortgage-backed securitization and said that this won’t be its last one either. According to Flagstar, the 668 underlying loans are "high-quality," a characterization is shared by Fitch Ratings, which handed out $416.06 million in triple-A ratings on the deal.
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  • Detroit Pistons pick Flagstar Bank to be first jersey ad sponsor

    Flagstar also becomes official banking and mortgage sponsor of the Pistons
    For the first time in its history, the NBA is allowing teams to place a sponsor’s logo on their jerseys. So far, a third of the league’s 30 teams have inked sponsorship deals and will have a sponsor’s logo on their jerseys, including the Boston Celtics (General Electric) and the Cleveland Cavaliers (Goodyear). On Wednesday, the Detroit Pistons became the 10th team with a jersey sponsorship, and their sponsor is one of the biggest names in the mortgage business – Flagstar Bank.
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