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Top National News

Why More Real Estate Firms Are Now Offering Mortgages
National Mortgage News, June 21, 2017--Brad Finkelstein (subscription)More real estate brokerages are starting to offer mortgages as traditional partnerships with lenders have been eroded by compliance strains and new incentives to control more of the homebuying transaction.
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Consolidation of the U.S. Mortgage Industry: M&A Activity Seen Rising in Light of Competition, Regulatory Challenges
GoRion, June 21, 2017--Sam BourgiFaced with stagnating loan volumes and growing competition from non-bank lenders, the U.S. mortgage industry is struggling to expand its footprint.
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Mortgage Applications Hold Steady as Rates Remain Low
CNBC, June 21, 2017--Diana OlickAfter surging to the highest level since the presidential election, demand for home loans remained steadily elevated last week. "The recent pause in the upward movement of interest rates continues to encourage late-to-the-game borrowers to refinance and to assist those ready to purchase," said Mortgage Bankers Association Economist Lynn Fisher.
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For Fannie and Freddie, Appraisals Are Not Always Necessary
Washington Post, June 21, 2017--Kenneth R. HarneyDo we always need an appraiser to tell us what a house is worth? The country's two biggest sources of mortgage financing--Freddie Mac and Fannie Mae--think not. "If there is a way to use technology to streamline or automate the process while ensuring the same standards of accuracy are met, it would benefit both lenders and consumers and should be pursued," said Pete Mills, senior vice president with the Mortgage Bankers Association.
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Jeb Hensarling Tells Bankers Ending Fannie and Freddie is Still the Best Path Forward
Washington Examiner, June 21, 2017--Joseph LawlerAppearing at a meeting of the Mortgage Bankers Association Wednesday morning in downtown Washington, the conservative chairman of the House Financial Services Committee said his 2013 bill "still represents the best vehicle for reform."
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Survey: Mortgage Applicants Prefer Loan Officers to Online Forms
National Mortgage Professional, June 21, 2017--Phil HallWhile the majority of prospective homebuyers do their mortgage research online, they prefer to handle their applications in the presence of a loan officer, a survey said.
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No More Offshoring: Nationstar Moving All Customer Service Operations Back to U.S.
HousingWire, June 21, 2017--Ben LaneNationstar Mortgage announced Wednesday it is bringing its customer service operations back to the U.S. According to the company, the move is driven by its transition into becoming Mr. Cooper, which first began back in 2015.
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Small Portfolio of Fannie Mae Loans Sold
Mortgage Daily, June 21, 2017The loan sale, which was initially marketed beginning on May 10, includes 123 mortgages that have a collective unpaid principal balance of $32 million.
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Ditech Unloading Servicing on HELOCs
Mortgage Daily, June 21, 2017In all, the Fort Washington, Pa.-based firm is transferring servicing on 3,020 HELOCs that are part of three residential mortgage-backed securities.
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Lawmakers Won’t Let Wells Forget Phony Account Scandal
American Banker, June 21, 2017--Kate Berry (subscription)Wells Fargo has struggled for the past nine months to move beyond its phony-accounts scandal, but lawmakers appear determined not to let that happen.
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Policymakers Feel Something New on Housing Finance Reform: Optimism
American Banker, June 21, 2017--Ian McKendry (subscription)"I think the stars may align--where you could actually see housing finance reform happen ahead of some of the Dodd-Frank reforms, because I think there is more consensus here," Sen. Mark Warner, D-Va., said during a Mortgage Bankers Association conference this week.
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Five Flood Insurance Bills Clear Financial Services Committee
National Mortgage News, June 21, 2017--Brian Collins (subscription)One bill (H.R. 2246) would allow commercial firms and small businesses to opt-out of buying policies from the National Flood Insurance Program.
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Here’s Why Sindeo Shuttered its Business
HousingWire, June 21, 2017--Sarah WheelerIn a surprise move Tuesday night, mortgage tech company Sindeo announced it was closing its business - laying off all but a few employees to help finish out its current loan obligations.
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