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FHA premium cancellation bill reintroduced in the House

FHA, LOAN PRODUCTS, Originations, PMI, Politics and policy, Servicing /

A bipartisan bill looking to end the Federal Housing Administration’s life-of-loan requirement for that form of mortgage insurance coverage has been reintroduced in the House of Representatives. The Mortgage Insurance Freedom Act was previously introduced in last year’s lame duck session of Congress by Rep. Gregory Meeks, D-New York, and Rep. Pete Sessions, R-Texas. Under […]

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Rate gets mortgage benefit of Compass-Anywhere deal

Housing markets, M&A, Marketing, Originations, REALTORS & HOMEBUILDERS /

When it comes to the mortgage impact of Compass’ purchase of Anywhere Real Estate, Rate comes out as a big winner thanks to the joint ventures it has with both companies. The Rate/Anywhere JV, Guaranteed Rate Affinity, was formed in 2017, when what was then known as Realogy teamed up with the lender after ending

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EXCLUSIVE RESEARCH: How LOS preferences differ across lender types

Editorial Research, Mortgage technology, Originations, Technology /

Encompass dominates the loan origination software market but allegiances vary among competing institutions of various sizes.  The LOS is a lender’s key piece of technology, often exceeding core origination tasks by housing product and pricing engines and other closing technology, according to a new report by National Mortgage News parent company Arizent.  “Everybody has their

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Cornerstone, former executive dismiss mutual lawsuits

CAREER & COMPENSATION, Law and legal issues, Originations, Workplace /

Dueling cases involving Cornerstone Capital Bank and a former executive have been dismissed prior to trial, with both sides claiming victory. Each party has a different interpretation of what happened in the legal matter involving former Cornerstone Home Lending executive Manuel Valdes. A former independent mortgage banker, Cornerstone acquired a Texas state chartered bank in

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Pennymac, like UWM, raising its conforming loan limits early

Industry News, Originations /

Pennymac is raising its conforming loan limits, effective immediately, ahead of the Federal Housing Finance Agency’s official announcement in November. The increase of nearly $13,000 for single units comes a day after United Wholesale Mortgage hiked its conforming limits, becoming the first major lender to do so in this market cycle. “By getting ahead of

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EXCLUSIVE RESEARCH: The mortgage lender’s conundrum behind tech decisions

Editorial Research, Mortgage technology, Originations, Technology /

In today’s digital age, lenders are keenly aware of the value in maintaining essential mortgage technology systems, but expenses that hold back some from moving forward on upgrades and improvements can cause future financial pain. Having strong, reliable and new tools is top of mind at many lenders, but the decision-making behind applying changes isn’t

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Mortgage rates lower but full impact of FOMC not felt yet

Economy, MARKETING TO BORROWERS, Mortgage Rates, Originations /

Those who expected lower mortgage rates in the immediate aftermath of yesterday’s Federal Open Market Committee actions are likely disappointed with the early market response. The 10-year Treasury yield rose to 4.13% at 11 a.m. Thursday, up 5 basis points from its close at 4.08% at 3 p.m. on Wednesday, an hour after the Fed

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What you missed from day two at Digital Mortgage

Artificial Intelligence, Industry News, Mortgage technology, Originations /

The industry’s top technology minds at the National Mortgage News Digital Mortgage Conference in San Diego Wednesday urged mortgage firms to integrate artificial intelligence into their organizations peacefully, or else.  Whereas top lenders on day one urged firms to maintain a human touch, tech lenders on day two advised competitors to get their entire staff

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UWM first to raise its conforming limits for 2026

Marketing, MARKETING TO BORROWERS, Mortgage Rates, Originations, Secondary markets, Underwriting /

United Wholesale Mortgage is the first major lender this year to raise its conforming loan limits in advance of the formal announcement in November by the Federal Housing Finance Agency. Even though UWM will start obtaining loans with these higher limits from mortgage brokers immediately, it will need to keep the mortgages on its balance

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