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What happens when borrowers have more control of the lending process?

Housing Wire

Yet borrowers have had limited agency in the lending process to date. FormFree, the ATP fintech led by HousingWire Tech Trendsetter Brent Chandler , is launching a blockchain-based exchange for consumers to take control of the lending process. The smart contract presents the borrower’s lending request to the exchange.

Lending 435
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Mortgage Coach, Polly team up amid a rapidly shrinking industry

Housing Wire

Mortgage Coach, founded in 2009 and based in California, offers an interactive borrower education platform that lets loan officers guide borrowers through a visual presentation of their loan options. The goal is to help drum up business for lenders during an extremely challenging time in the industry. .

Mortgage 459
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$1 million conforming loan limit reignites affordability debate

Housing Wire

The new ceiling for one-unit properties in designated high-cost areas will reach $1,089,300 — or 150% of $726,200. Homepoint will begin lending at the FHFA 2023 loan limits for conventional products starting Wednesday, November 30. By contrast, first-lien lending overall fell 22.3% to $505 billion in the third quarter.

Finance 284
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RON is here to stay – Here’s what you need to know

Housing Wire

In addition to complying with state laws, you must make a plan on how to train and certify staff and comply with the rules and expectations set by your underwriting and lending partners. Designate a subject matter expert on all things RON. According to a Global Workplace Analytics study , remote work has grown 159% since 2009.

Law 370
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Help for troubled borrowers is on the way. But will it come soon enough?

Housing Wire

Wilen’s case illustrates how some Americans have a lot to lose if policies designed to help mortgage borrowers don’t break right. According to the Federal Housing Administration, their share of lending to Black borrowers is around 17%, compared to 6% for the rest of the mortgage market. He is afraid of losing his home.

Mortgage 418
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Fannie Mae Changes 2018

Robinson Appraisal Group

This form has been a requirement since 2009 as a tool to establish the increase, decrease or stabilization of markets in the aftermath of the housing crisis occurring between 2007 – 2010 due to sub prime lending practices. So what is the 1004MC form? This requirement applied to loans delivered to Fannie Mae.

Tools 78
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Are New Homes in Birmingham Getting Smaller?

Birmingham Appraisal

Census Bureau, home size steadily increased from 1999 through 2008/2009, which we all know was when the housing market crashed. Other factors eventually led to the crash including subprime mortgages, predatory lending, and questionable securitization by lenders, however, that is a topic for another day.