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Title insurance premiums surging during COVID-19 pandemic

Housing Wire

The title insurance industry saw a surge in premium volume in the second quarter of 2020, according to the American Land Title Association’s latest Market Share Analysis. It’s no secret that lending volume is up in 2020. In fact, the latest Fannie Mae forecast says mortgage lending will hit an all-time high of $3.9

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Minority borrowers struggled in 2020: HMDA

Housing Wire

The mortgage market had a stunning year in 2020, with closed-end originations increasing by 65.2% But some of the industry’s same problems remained in 2020. million in 2020. million in 2020. in 2020, while the share for Hispanic borrowers was 9.1% in 2020 compared to 8.9% in 2020, from 1.04

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OCC moves to rescind 2020 version of CRA rule

Housing Wire

The Office of the Comptroller of Currency announced today that it is moving to gut the controversial Community Reinvestment Act (CRA) rule issued in 2020. The post OCC moves to rescind 2020 version of CRA rule appeared first on HousingWire. The agency is soliciting public commentary, due by Oct.

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How 2020 raised the stakes for the mortgage industry

Housing Wire

Prior to 2020, the mantra around the mortgage industry going back to 2016 was that launching a new “digital experience” was the equivalent to table stakes in poker. Sure, new online lending operations like SoFi, Better and a handful of others are taking advantage of their lack of traditional infrastructure.

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Blend breaks into title insurance with latest acquisition

Housing Wire

Digital lending software provider Blend announced on Monday that it is expanding its cloud-based platform with the acquisition of Title365 from the Mr. Cooper Group for approximately $422 million, reflecting an enterprise value of $500 million. How hybrid title and valuations help increase lending efficiency. Presented by: Altisource.

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IMB Summit: Holstering the “money gun,” addressing the homeowner’s insurance crisis & more

Housing Wire

“It’s the fear of the unknown,” said McGrath, whose lending company is based in Florida. While rates are coming down and there will be more refi activity, it won’t be a full-fledged boom like 2020-2021. What keeps McGrath up at night? “Something needs to be done.” ”

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Figure Lending lands $100M funding facility

Housing Wire

SoFi co-founder Mike Cagney’s latest digital mortgage operation Figure Lending closed on a $100 million funding facility from JPMorgan Chase this week. In a statement, Figure said the $100 million loan facility represents another push toward growth in mortgage lending. How 2020 continues to impact mortgage closings.

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