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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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New York poised to expand CRA rule to nonbank lenders

Housing Wire

“Omitting non-depository lenders, who currently hold a substantial portion of the mortgage lending market, from CRA monitoring leaves communities vulnerable to fair lending abuses in the New York State residential loan market,” the bill states. The state conducted the first nonbank CRA exam in 2009.

Law 468
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Did Michael Strauss, accused of fraud, just start a new mortgage company?

Housing Wire

There were no severance packages, and even health insurance was canceled retroactive to May 2022, leaving some on the hook for huge medical bills. In 2009, the Securities and Exchange Commission (SEC) charged two former executives at American Home Mortgage Investment Corp. Shocked employees didn’t receive their last paychecks.

Mortgage 418
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FHLBank Pittsburgh Announces Leadership Changes

Appraisal Buzz

Previously, he was COO of FHLBank Pittsburgh, a position that he assumed in November 2009. Morgan in Hong Kong from 2007-2009, after serving that company in various capacities in New York for 22 years. FHLBank products and resources help support community lending, housing, and economic development.

Investing 221
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Why now is not the time for FHA premium cuts

Housing Wire

In its most recent annual report to Congress, November 2020, the Federal Housing Administration ( FHA ) published its “capital ratio,” a measure of capital reserves to insurance-in-force held within the Mutual Mortgage Insurance Fund (MMI Fund). The same report revealed FHA had amassed capital reserves in the amount of $78.9

Insurance 333
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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. Before you do anything, you should ask your underwriter whether they will insure RON closings at all. How should you prepare for RON?

Law 370
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The Apple Peeled - Ask the Experts: Market Dynamics with Jonathan Miller

Miller Samuel

The 10-year Challenge (2009 vs. 2019). Some analysts are even comparing the current cycle to the last downturn and the housing bubble in 2009, but Miller outlined quite a few differences between then and now. In 2009, the average discount from listing was 10.2%. And, in-turn, when the market falls, it will fall forever.

Marketing 221