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Zillow as Mortgage Lender: Real Estate Giant Going ‘Further Down the Funnel’ of Buying a House
GeekWire, Feb. 26, 2019--Nat LevySeattle-based online real estate giant Zillow is preparing to go deeper into the business of mortgage origination, making loans to help people buy the same homes they come across in the Zillow app.
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Overuse of GSE Tools in the Private-Label Market Adds Risk: Moody’s
National Mortgage News, Feb. 26, 2019--Brad Finkelstein (subscription)Being too dependent on the automated underwriting tools created by the government-sponsored enterprises to originate loans underlying private-label mortgage-backed securitizations could negatively affect their credit quality, Moody's said.
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MBA Servicing: What Does the Future of Mortgage Servicing Look Like?
HousingWire, Feb. 26, 2019--Sarah WheelerSo what does that future look like? More M&A, more tech investment and, if you've got a really long lens, more standardization.
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Accountant Pleads Guilty for Role in Mortgage Fraud Scheme
Associated Press, Feb. 26, 2019The U.S. Attorney's office says 53-year-old David Plunkett, of Lynn, entered his plea Monday to a charge of bank fraud and aiding in the submission of false tax returns. Prosecutors say Plunkett prepared fake tax returns for borrowers that were submitted to lenders in support of fraudulent loan applications.
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Nearly Half of Homebuyers Paying Above Asking Price
National Mortgage Professional, Feb. 26, 2019--Phil HallForty-five percent of homebuyers who purchased a residential property in the past five years wound up paying more than the asking price before having their offer accepted, according to the 2019 NerdWallet Home Buyer Report.
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Altisource Takes Losses as it Realigns Its Business, Reduces Ocwen Ties
National Mortgage News, Feb. 26, 2019--Bonnie Sinnock (subscription)Altisource Portfolio Solutions recorded multimillion-dollar net losses in the fourth quarter and the full year for 2018, due to the reduction of the Ocwen Financial servicing portfolio and other repositioning activities.
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