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How lenders can prepare for growing fraud threats
26-02-2021
As origination volumes hit record highs in 2020, Truework’s verification experts saw a spike in fraud, and expect that trend to continue this year. HousingWire recently spoke with Jeffrey Morelli, General Manager of Truework Verifier, about what lenders can do to prepare for and overcome the growing threat of fraud...
Read moreCalHFA’s former director to join Biden administration
26-02-2021
Tia Boatman Patterson The California Housing Finance Agency announced Friday former executive director Tia Boatman Patterson will join the White House Office of Management and Budget as the associate director for housing, treasury and commerce in the new administration. Boatman Patterson began serving on the CalHFA’s board of directors in 2012 and...
Read moreTop renovations to protect homes from natural disasters
26-02-2021
From hurricanes and floods to earthquakes and wildfires, 2020 saw its fair share of natural disasters — and pretty damaging ones, too. According to tallies, damages clocked it at over $1 billion for at least 10 different events. If your area wasn’t hit by a major catastrophe last year, you got...
Read moreJPMorgan’s Thasunda Duckett named next CEO of TIAA
26-02-2021
TIAA Bank has tapped JPMorgan Chase‘s head of consumer banking, Thasunda Brown Duckett, to succeed longtime president and CEO, Roger Ferguson, Jr. Thasunda Brown Duckett With the hire, TIAA is now the first Fortune 500 company to have two Black CEOs in a row. At JPMorgan Chase, Duckett has led a banking network...
Read moreMichael Neal on the history of housing discrimination
26-02-2021
This HousingWire Daily podcast transcription features the first episode of Honest Conversations, a new miniseries that examines the state of minority homeownership. In this episode, Michael Neal, a senior research associate in the Housing Finance Policy Center at the Urban Institute discusses the history and data behind minority homeownership and housing discrimination. During the episode...
Read moreWhy do mortgage rates need to cool down?
26-02-2021
HousingWire Lead Analyst Logan Mohtashami joins the HousingWire Daily podcast to talk about why low mortgage rates need to end. During the interview, HW+ Managing Editor Brena Nath interviews Mohtashami on his most recent article, “We need higher mortgage rates to cool the housing market.” In his opinion piece, Mohtashami states, “For...
Read moreHomepoint COO Lisa Patterson to speak at Spring Summit
26-02-2021
Lisa Patterson, chief originations officer at Homepoint, will speak on a panel titled Operational Strategies in the Current Market at HousingWire’s Spring Summit on March 4. Patterson will be joined on the panel by Dave Vermillion, founder and CEO of Mortgage Champions, and Fred Bolstad, executive vice president of retail lending at U.S...
Read moreTexas judge finds national eviction ban unconstitutional
26-02-2021
A federal judge in Texas ruled that the national ban on evictions is unconstitutional. Advocates warn of a spike in evictions.Read more: https://www.cnbc.com/2021/02/26/texas-judge-finds-national-eviction-moratorium-unconstitutional-.html
Read moreWomen pay higher mortgage rates in 49 states
26-02-2021
In Mississippi, single women on average paid 3.47% on a 30-year, conventional fixed-rate mortgage in 2019. But single men on average paid 3.37%, according to the latest HMDA data available. Over the lifespan of the mortgage, the single woman in this instance will have roughly $7,000 more in mortgage payments...
Read moreHow Guaranteed Rate donated over $7 million in 2020
26-02-2021
Every month, Guaranteed Rate CEO Victor Ciardelli sits down and reads through story after story of people who are working to overcome extraordinary hardships and are in need of financial support, looking at ways the company can step in and provide help. This is one of the final steps in the...
Read more2021 Rising Stars Nominations are closing soon!
26-02-2021
Today is the last day to nominate a 2021 Rising Star – don’t forget to submit your nominations by the end of the day! The past year has presented an opportunity for young leaders to step up and prove their value under unique circumstances in the housing world. And while...
Read moreFinicity launches verification service approved by GSEs
25-02-2021
Finicity, an open-banking solutions provider that was acquired by Mastercard in October, announced that it is dipping further into the mortgage space. Finicity’s latest product, dubbed its “mortgage verification service,” will allow prospective borrowers to provide certain permissions that allow mortgage lenders to verify assets, income and employment on one...
Read moreZestimate to double as Zillow’s iBuying offer
25-02-2021
Zillow is putting their money where their Zestimate is, at least to a point. The “Zestimate,” Zillow’s catchy (and soapy) name for estimated home values, will sometimes be used as the initial offer Zillow plans to pay to purchase a home, the company said on Thursday. Zillow’s own estimated home value is...
Read moreBlend’s Nikolaos Pavlou to speak at Spring Summit
25-02-2021
Nikolaos Pavlou, product marketing manager at Blend, will sit down with other housing luminaries to discuss what mortgage tech is solving now at HousingWire’s Spring Summit on March 4. Pavlou will be joined by Finicity’s Senior Vice President of Product and Strategic Programs Lisa Kimball, and Qualia‘s Director of High Growth...
Read moreRocket Mortgage made $9.5B in profits in 2020
25-02-2021
Rocket Companies, the parent company of Rocket Mortgage, cleared another $2.48 billion in profits during the fourth quarter, giving the nation’s biggest mortgage lender a total of $9.5 billion in profits for 2020. Rocket originated $107.2 billion in mortgages, with net rate lock volume of $96 billion in the fourth...
Read morePending home sales drop, but there’s a silver lining
25-02-2021
It’s like the Yogi Berra quote – nobody goes there anymore, it’s too crowded. For the fifth consecutive month, U.S. pending home sales dipped – this time, down 2.8% in January from December, according to a report from the National Association of Realtors. And inventory shortages are the culprit. Despite the decline...
Read moreFHFA extends forbearance period to 18 months
25-02-2021
Borrowers with mortgages backed by Fannie Mae and Freddie Mac may be eligible for an additional forbearance extension of up to six months, the Federal Housing Finance Agency announced Thursday. On Feb. 9, the FHFA extended forbearance plans an additional three months past beyond their initial 12 month expiration. With the latest edict, the agency is...
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