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Lower FICOs, Higher DTIs Prompt a Change in FHA Loan Underwriting
National Mortgage News, Mar. 18, 2019--Bonnie Sinnock (subscription)The Federal Housing Administration is returning to manual reviews of higher-risk loans it insures because it's finding that a growing share have lower credit scores, higher debt-to-income ratios, or both.
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This Housing Market Clue Predicts Pending Economic Slowdown
HousingWire, Mar. 18, 2019--Jessica GuerinOne critical clue from the housing market has emerged to suggest economic growth is likely to backslide, and that is a steady decline in single-family authorizations. In essence: Construction activity appears to be slowing.
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A Clear Path Forward for the CFPB
MReport, Mar. 18, 2019--Krista Franks BrockWith the Consumer Financial Protection Bureau appearing at a juncture set to "critically examine" its practices following the release of 12 requests for information last year, the Mortgage Bankers Association released last week its own proposed "roadmap" forward for the bureau.
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Strong Home Purchase Season Could Deter Economic Slowdown
National Mortgage News, Mar. 18, 2019--Brad Finkelstein (subscription)A strong spring home purchase season could reverse the downward trends in single-family construction and remodeling activity and help deter an economic downturn, a report from BuildFax said.
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PwC Reaches $335 Million settlement with FDIC over Taylor, Bean & Whitaker/Colonial Bank Audits
HousingWire, Mar. 18, 2019--Ben LanePricewaterhouseCoopers will pay $335 million to the Federal Deposit Insurance Corp. in a settlement that ends claims that the auditor failed in its duties by not discovering the accounting malfeasance that led to the late-2000s collapse of Colonial Bank, which funded the mortgages originated by Taylor, Bean & Whitaker.
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This Bubble-Era Mortgage Trick Could Smash Major U.S. Housing Markets
MarketWatch, Mar. 18, 2019--Keith JurowThe author says cash-out refinances could leave some housing markets particularly vulnerable to the same issues that plagued them during the Great Recession.
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