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Resiliency, Gut Rehabs to Drive Growth in Commercial PACE
National Mortgage News, Dec. 19, 2018--Allison Bisbey (subscription)The Property Assessed Clean Energy sector is getting a boost from the expansion of improvements eligible to be financed via tax assessments, DBRS said. But the expansion will primarily benefit providers of PACE for commercial property because residential PACE providers are struggling under new consumer finance protections in California, the biggest PACE market.
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‘BCFP’ No More: Kraninger Scraps Plan to Rebrand CFPB
National Mortgage News (free content)Consumer Financial Protection Bureau Director Kathy Kraninger has halted efforts to change the name of the agency to the Bureau of Consumer Financial Protection, according to a memo she wrote employees on Wednesday.
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Urban Institute Urges FHA to Release More HECM Data
HousingWire, Dec. 19, 2018--Jessica GuerinLast month, the Federal Housing Administration revealed that its reverse mortgage program was continuing its detrimental drain on the Mutual Mortgage Insurance Fund. The Urban Institute says the FHA should share more HECM data so that researchers can better assess its risk factors and help stop the bleeding.
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Mortgage Applications Fell Along With Equities
Fox Business, Dec. 19, 2018--Ken MartinMortgage applications decreased 5.8 percent from the prior week, according to the Mortgage Bankers Association's weekly survey for the week ending December 14.
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Senate Approves Funding Bill, Preventing Partial Government Shutdown
The Hill, Dec. 19, 2018--Jordain CarneyThe Senate approved a seven-week funding bill on Wednesday, preventing a partial government shutdown that was expected to begin on Saturday.
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Homebuyers will Favor Mortgage Lenders that Embrace Technology
National Mortgage News, Dec. 19, 2018--Pat Kinsel (subscription)Notarize CEO (and MBA Tech All-Star honoree) says lenders that use technology to meet customer demands and build disruptive delivery models will see a dramatic spike in market share. These technology adopters will also save thousands of dollars in origination fees.
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More Home Buyers are Turning to Adjustable-Rate Mortgages
Washington Post, Dec. 19, 2018--Michele LernerAdjustable-rate mortgages come with the risk of future rate increases, but today's hybrid ARMs are typically fixed for five to seven years before they begin to adjust to market rates.
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New American Funding Acquires Marketplace Home Mortgage
National Mortgage Professional, Dec. 19, 2018--Phil HallThe transaction will increase New American Funding's presence in the Minnesota market, where Marketplace has been operating since its founding 1995. Marketplace also has locations in Florida, Michigan, New Hampshire, South Dakota and Wisconsin. The terms of the acquisition were not disclosed.
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MBA Education Compliance Essentials State Mortgage Servicing Rules Deep Dive Workshop Feb. 25
MBA Education and the Compliance Essentials program present State Mortgage Servicing Rules Deep Dive Workshop on Feb 25 at the Hyatt Regency Orlando in conjunction with the MBA National Mortgage Servicing Conference & Expo.
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