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CFPB bans RMK Financial Corporation from mortgage lending industry

Housing Wire

RMK Financial Corporation , which does business as Majestic Home Loans , has been permanently banned by the Consumer Financial Protection Bureau (CFPB) from the mortgage lending industry following a series of repeat offenses — which occurred despite the CFPB’s law enforcement order issued in 2015. government. government.

Lending 386
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GAO highlights reverse mortgage counseling in new report

Housing Wire

This program provides counseling to all applicants of the federally insured reverse mortgage program, the Home Equity Conversion Mortgage program,” the report stated. Department of Housing and Urban Development (HUD)’s Home Equity Conversion Mortgage (HECM) counseling program was cited as an example.

Mortgage 353
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Payload partners with PDS to integrate SoftPro

Housing Wire

The American Land Title Association’s (ALTA) 2021 Wire Fraud and Cyber Crime Survey noted in a third of all real estate and mortgage transactions, title insurance professionals reported cyber criminals trying to deceive employees into wiring money to fraudulent accounts. . To boot, check fraud is also on the rise.

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StreamLoan expands into insurtech with Progressive deal

Housing Wire

This article was written for FinLedger, HW Media’s new fintech focused news brand designed specifically for financial services professionals in banking, payments, insurance and proptech. This setup lets a consumer compare quotes from several insurers, including Progressive, with only one click. billion U.S.

Insurance 383
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The Week Ahead: Senate Turns Spotlight on CFPB

Appraisal Buzz

As Director, Chopra is also a member of the Board of Directors of the Federal Deposit Insurance Corporation (FDIC) and the Financial Stability Oversight Council (FSOC). Chopra previously served at the CFPB from 2010-2015. In 2018, Chopra was unanimously confirmed by the U.S.

Contracts 195
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Review of MMI Fund’s reverse mortgage book sheds light on evolving HECM

Housing Wire

Changes in financial markets, retirement needs, and long-term care needs will affect borrowers’ participation in the HECM program, how they use HECM loans, and the innovation in product design. Other examples include the introduction in 2015 of the life-expectancy set aside (LESA) account and the 2017 principal limit factor changes.

Mortgage 384
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The Week Ahead: Unraveling the Nation’s Housing Crisis

Appraisal Buzz

He was named Managing Director of the Center in 2015, and oversees the Center’s sponsored research programs, its local and national conferences, and symposia, as well as its student fellowship programs. He is also a Lecturer at the Harvard Graduate School of Design in the Department of Urban Planning and Design.