Change Lending keeps CDFI certification after agreement with US Treasury 

By: ameer@trustedteam.com

Non-bank originator Change Lending will continue to originate non-qualified mortgages (non-QMs) for underserved borrowers after it reached a tentative deal with the U.S. Department of Treasury that would keep...

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CFPB report finds state community reinvestment laws can go beyond federal version

By: ameer@trustedteam.com

The Consumer Financial Protection Bureau (CFPB) this week published a report analyzing state-level community reinvestment laws and ways they promote reinvestment activities for entities including mortgage companies. The 32-page report...

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No more rate hikes expected as unemployment rate rises to 21-month high

By: ameer@trustedteam.com

Canada’s unemployment rate ticked up two basis points to 5.7% in October, suggesting the Bank of Canada can now remain “firmly on the sidelines,” economists say. The rise in...

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Experts predict lower mortgage rates next week as bond yields plunge

By: ameer@trustedteam.com

Mortgage shoppers and those with upcoming renewals may see some rate relief next week thanks to a steep drop in bond yields. This week alone, the 5-year Government of Canada...

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FHA publishes proposed reverse mortgage servicing guidance to Single Family Drafting Table

By: ameer@trustedteam.com

The Federal Housing Administration (FHA) this week published a new draft version of a Mortgagee Letter (ML) containing a series of proposed changes to the Home Equity Conversion Mortgage...

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Extended Maui foreclosure relief covers HECM borrowers

By: ameer@trustedteam.com

The Federal Housing Administration (FHA) this week extended a moratorium on foreclosures on the island of Maui as the community continues to deal with the fallout of devastating wildfires...

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Cyberattack on Mr. Cooper forces it to lock down systems

By: ameer@trustedteam.com

Texas-headquartered lender and servicer Mr. Cooper pointed to a cybersecurity incident that forced the company to lock down certain technology systems including access to its online payment portal.  “On October...

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HUD OIG launches inquiry into how Ginnie Mae monitored RMF

By: ameer@trustedteam.com

On Thursday, the Office of the Inspector General (OIG) of the U.S. Department of Housing and Urban Development (HUD) announced that it is initiating an inquiry into how Ginnie...

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Investor loans up amid subdued start to spring

By: ameer@trustedteam.com

Investor activity have carried the lending market for September, with new investor loan commitments rising 2.0%, which is 2.6% higher than last year, according to the latest ABS lending...

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Comment: Let nobody be underserved

By: ameer@trustedteam.com

Jeremy Duncombe, managing director at Accord Mortgages Taking the first step on the property ladder, or going solo when it comes to employment, are two milestone moments in a person’s...

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