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Former FHA Head Joins Calls for Reverse Mortgage Separation

Posted on January 17, 2018

Former FHA Head Joins Calls for Reverse Mortgage Separation Count Carol Galante among the growing chorus of housing experts who believe the federally backed reverse mortgage program should be separate from the Federal Housing Administration’s other loans. Speaking at an Urban Institute event in Washington, D.C., last week, Galante — FHA commissioner in the Obama […]

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Trump Administration Seeks to Change Rules on Bank Lending to the Poor

Posted on January 12, 2018

Trump Administration Seeks to Change Rules on Bank Lending to the Poor The Trump administration plans to unveil a major revision to decades-old banking rules that mandate lending to poor borrowers. Changes to the regulations of the Community Reinvestment Act — a law first enacted in 1977 — could potentially transform the way banks make […]

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Industry Memorializes Laurie Maggiano

Posted on January 10, 2018

Industry Memorializes Laurie Maggiano During the weekend, the mortgage finance industry was saddened to learn the loss of Laurie Maggiano, an industry leader who served as the servicing and secondary markets program manager for the Consumer Financial Protection Bureau. A Facebook post, made by her family, sharing the news of Maggiano’s death appeared on her […]

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Conventional Mortgage Loans Most Popular With Millennials

Posted on January 08, 2018

Conventional Mortgage Loans Most Popular With Millennials The average credit score for all borrowers dipped to 722 in November 2017 from 728 in November 2016, according to a report released by Ellie Mae, a cloud-based platform provider for the mortgage finance industry, on Wednesday. The report, which also gave indicators on millennial borrowers through the […]

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Tax Reform & Regulatory Relief: Bookmarks of Economic Growth Agenda

Posted on December 18, 2017

Tax Reform & Regulatory Relief: Bookmarks of Economic Growth Agenda The housing industry has been on a roller-coaster ride over the past few weeks as key legislative proposals affecting the housing market have been moving through Congress. As the House and Senate conferees are working rapidly to finalize sweeping tax reform legislation, regulatory reform, although receiving […]

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Some States Offer Incentives for First-Time Homebuyers

Posted on December 13, 2017

Some States Offer Incentives for First-Time Homebuyers Efforts to help potential first-time home buyers save for down payments using special tax-favored accounts have been gaining traction in state legislatures. Three states passed legislation this year authorizing the accounts: Iowa, Minnesota and Mississippi. Three other states had previously approved them: Colorado, Montana and Virginia. “Locally driven […]

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The State of Home Equity in Q3

Posted on December 11, 2017

The State of Home Equity in Q3 More than a quarter-million mortgaged homes regained equity in the third quarter, putting a big dent in the number of properties underwater, according to the Q3 2017 home equity analysis report issued by CoreLogic Thursday. With 260,000 mortgaged properties regaining equity between Q2 and Q3, U.S. homeowner equity […]

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Housing Industry to Closely Observe Tax Reform Conference Committee

Posted on December 08, 2017

Housing Industry to Closely Observe Tax Reform Conference Committee The recent passage of the Tax Cuts & Jobs Act by the House and Senate is considered by many to be a significant achievement, but before the President can sign the most sweeping overhaul of the tax code since 1986, both chambers must pass identical legislation. As […]

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Growth Rate for Residential Construction Loans Picks Up

Posted on December 07, 2017

Growth Rate for Residential Construction Loans Picks Up The volume of residential construction loans increased by 2.4% during the third quarter of 2017, marking 18 consecutive quarters of growth. While the year-over-year growth rate has slowed, the uptick in the quarterly growth rate is good news for home building. Tight availability of acquisition, development and […]

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Rising Rent Costs Blocking Homeownership Dreams for Many

Posted on December 04, 2017

Rising Rent Costs Blocking Homeownership Dreams for Many It’s no secret that rent prices are taking a big bite out of many Americans’ incomes, especially for those not in a position to purchase a home. Even worse, it’s a real obstacle toward being able to save toward a down payment that could make buying a […]

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