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Fitch Says Non-Bank Lenders May Face Further Margin Squeeze
Mortgage Professional America, Aug. 28, 2018--Steve RandallNon-bank mortgage lenders could face further pressure on margins and more industry consolidation according to Fitch Ratings.
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U.S. Bank Regulator Moves to Modify Lending Rules for Poorer Communities
Wall Street Journal, Aug. 28, 2018--Lalita Clozel (subscription)The Office of the Comptroller of the Currency took the first step Tuesday toward rewriting rules for lending in lower-income neighborhoods, an effort that could allow institutions to redirect billions of dollars spent on loans and investments.
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FHFA Proposes New Rule to Reduce Compliance Burden
HousingWire, Aug. 28, 2018--Kelsey RamirezThe Federal Housing Finance Agency announced Tuesday its new proposed rule which would amend its rule on golden parachute payments in order to reduce compliance burdens.
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Moody’s to Pay $16.25 Mln to Settle SEC Charges
Reuters, Aug. 28, 2018--Katanga JohnsonThe Securities and Exchange Commission said on Tuesday that it charged Moody's Investor Service with failing to clearly define and consistently apply credit-rating symbols in a first-ever ratings-related enforcement action by the regulator.
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Union Says Wells Sending Jobs Overseas
Orlando Sentinel, Aug. 28, 2018--Kyle ArnoldThe bank-holding company Monday said allegations by the Communications Workers of America union that recent jobs in its mortgage division are being moved out of the country are "completely inaccurate."
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What Borrowers Want From Digital Mortgage Process
Mortgage Daily, Aug. 28, 2018With most prospective borrowers doing online research before beginning the mortgage process, home lenders can see big benefits from changes in their digital lending processes, said Ellie Mae.
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Bipartisan Push Begins in Senate to Expand Mortgage Access for Self-Employed Borrowers
HousingWire, Aug. 28, 2018--Ben LaneSens. Mark Warner, D-Va., and Mike Rounds, R-S.D., introduced legislation designed to make it easier for self-employed borrowers to get a mortgage. The bill has support from the Mortgage Bankers Association.
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Mortgage Company Head Wins GOP Primary for Oklahoma Governor
Associated Press, Aug. 28, 2018--Sean MurphyKevin Stitt, the 45-year-old owner of Gateway Mortgage Group defeated former Oklahoma City Mayor Mick Cornett and advanced to face Democrat Drew Edmondson and Libertarian Chris Powell in November.
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American Equity Mortgage is No More (St. Louis), Aug. 28, 2018--Greg Edwards (St. Louis Business Journal)The court-appointed receiver overseeing what was American Equity Mortgage said the lending company no longer has operations in St. Louis or anywhere.
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Senate Confirms Clarida to Fed, Two Others Remain in Limbo
American Banker, Aug. 28, 2018--Neil Haggerty (subscription)The Senate voted Tuesday to confirm Richard Clarida to serve a four-year term as vice chairman of the Federal Reserve Board of Governors and a 14-year term as a member of the Fed board.
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‘The Future of Mortgage Lending’ at MBA Annual Convention & Expo
Join industry trailblazers Bill Emerson and Anthony Hsieh as they discuss the future of mortgage lending at the Mortgage Bankers Association's Annual Convention & Expo, Oct. 14-17 in Washington, D.C.
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