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Fannie Mae is Looking for Your Ideas

Fannie Mae is Looking for Your Ideas

Wednesday, 24 April 2019
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In a recent poll commissioned by Fannie Mae, 46% of American adults said they would prefer to live in a community with access to better schools and/or childcare, but cannot afford to do so; while 58% say communities with better job opportunities are too expensive for them to live in.* "When families live in stable… Read more...
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MBA: Refi Applications Drop 28% Over the Last Three Weeks

MBA: Refi Applications Drop 28% Over the Last Three Weeks

Wednesday, 24 April 2019
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The Mortgage Bankers Assoicitation's Market Composite Index, a measure of mortgage loan application volume, decreased 7.3 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 6 percent compared with the previous week. The Refinance Index decreased 11 percent from the previous week. The seasonally adjusted Purchase Index… Read more...
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Radian MI Now Available Through Compass Analytics

Radian MI Now Available Through Compass Analytics

Tuesday, 23 April 2019
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Radian Guaranty Inc., the mortgage insurance subsidiary of Radian Group Inc. announced today that Radian MI is now available directly through Compass Analytics’ product, pricing and eligibility (PPE) engine, CompassPPE™ (CPPE). This integration is helping ensure customers receive Radian’s most competitive MI rates by providing them access to a comprehensive, contemporary PPE that is designed… Read more...
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Urban Institute's Index Shows Credit Easing Has Room to Increase

Urban Institute's Index Shows Credit Easing Has Room to Increase

Tuesday, 23 April 2019
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The Urban Institute’s Housing Finance Policy Center updated their Housing Credit Availability Index (HCAI) last Friday. The HCAI measures the percentage of owner-occupied home purchase loans that are likely to default—that is, go unpaid for more than 90 days past their due date. A lower HCAI indicates that lenders are unwilling to tolerate defaults and… Read more...
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Ask the Expert: Build a Relationship Before Answering Phone Questions

Ask the Expert: Build a Relationship Before Answering Phone Questions

Monday, 22 April 2019
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I keep getting the same question over the phone—what is your rate on a 30-year fixed mortgage? How do I reply in a way that will assure that I get the loan? Eddie from New Hampshire This question goes to the crux of sales within the industry. It is so important that I may take… Read more...
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What Percentage Of Your Originators Are Really Producing?

What Percentage Of Your Originators Are Really Producing?

Monday, 22 April 2019
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By Pat Sherlock In recent conversations with a Board Chairman and the President of a mortgage company, I asked each one separately “What percent of your sales staff meet the company’s annual volume goals?” This productivity percentage is a critical standard for any mortgage company because it is a predictor of profitability. The Board Chairman… Read more...
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Quicken Loans Using Short Term Rental Income For DTI Calculation

Quicken Loans Using Short Term Rental Income For DTI Calculation

Sunday, 21 April 2019
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Detroit-based Quicken Loans has partnered with Vrbo®, a world leader in vacation rentals, to allow rental income earned through Vrbo to be used to qualify for a mortgage refinance. This program uses confirmed and documented rental income so homeowners can more accurately illustrate their full income stream. Mortgages for primary residences, vacation homes and investment… Read more...
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Bill Bodnar’s Mortgage Market Recap

Bill Bodnar’s Mortgage Market Recap

Wednesday, 17 April 2019
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https://youtu.be/hJ0SnZFePfU Rates rose this week and U.S. market is resurgent and so is China. The economy is reinvigorated. The spring season is the largest in nine years. Employees are not getting fired because the job market is so tight. [adbutler zone_id="326324"] [adbutler zone_id="326327"] Recession occur 13 months after the low, but the economy keeps making… Read more...
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Ally Financial Partners with Better.com to Create End-to-End Digital Mortgage Experience

Ally Financial Partners with Better.com to Create End-to-End Digital Mortgage Experience

Thursday, 18 April 2019
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Ally Financial Inc. (Ally) today announced a partnership with Better.com to create a new end-to-end digital experience for consumers looking for a mortgage loan from Ally. In addition to the partnership, strategic-investment arm Ally Ventures has announced an add-on investment to Better.com’s recent Series C funding, significantly increasing Ally’s overall ownership in the company. In… Read more...
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Ask Brian: Creating a Networking Group

Ask Brian: Creating a Networking Group

Thursday, 18 April 2019
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Dear Brian, I love your column and you seem to be very knowledgeable and sincere. I have only been originating for a few years and it’s hard for me to network. I am considering joining a networking group and wanted your opinion. Scott J. Boston Dear Scott, I know as a reader you may find… Read more...
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