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Home | Author Archives: Staff Writer (page 4)

FHFA Drops Optimistic 2016 Report to Congress

The Federal Housing Finance Agency released recently its exhaustive annual 2016 Report to Congress, where it highlights actions it has taken over the year to support and maintain the nation’s housing industry. The 120 page report covers, amongst others: a report of the annual examination of Fannie Mae and Freddie Mac (The Enterprises), reports of annual examinations of the Federal Home Loan Banks, the results of stress tests under the Dodd-Frank Wall Street Reform Consumer Protection Act. You can find some of the report’s highlights here.

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Current Costs of Living Effects Homebuyers Affording College Tuitions

Affording a comfortable lifestyle while saving enough money to send a child to college is a concern for the current homebuyer. The price of college is high and the cost of living in certain states directly impacts the chances of providing a child’s higher education. Recent data identifies the income needed to determine the cost of living securely and affording college tuition.

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Portfolio Underwriter is Now Available through Calyx Software

Calyx Software announced that Portfolio Underwrite is now available to Point and PointCentral clients. Portfolio Underwriter allows portfolio lenders to customize credit decisioning and safely originate non-agency loans that they intend to put on their balance sheets. It captures a portfolio lender’s program guidelines within its engine and delivers a rules-based underwriting decision in seconds and results of the decision are documented into a findings report.

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Freddie Mac Slaps a Price Tag on STACR Deal

Freddie Mac, in conjunction with J.P. Morgan and BNP Paribas as co-lead managers and bookrunners, recently announced the price of its fourth Structured Agency Credit Risk (STACR) debt note offering at $787.5 million. Mortgages in the reference pool have an unpaid principle balance of $31.6 billion. STACR is an ongoing effort to transfer a portion of its mortgage credit risk to private investors.

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Pam Patenaude’s Advancement Sparks Industry Excitement

Pam Patenaude was advanced by the Senate Banking Committee on Wednesday afternoon as Deputy Secretary of the Department of Housing and Urban Development, although she still must pass the Senate confirmation vote. Patenaude was received favorably by all members of the committee, aside from Senator Elizabeth Warren (D-MA) who requested to be recorded as a no vote.

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Limitless Possibilities

Technology has made the mortgage industry faster, more affordable, more compliant, and more convenient—and it’s not done yet. The industry’s top players weigh in on the power of technology, how to harness it, and where it’s headed. With pieces by Jason Allnutt of Auction.com, Rob Pajon of RES.NET, Martin Morzynski of HouseCanary, Dennis Cisterna III of Investability Real Estate, Dominic Iannitti of DocMagic, Cindy Walton of ISGN Corporation, and Jane Mason of Clarifire, this compilation has insights you won’t want to miss. This select print feature originally appeared in the June issue of DS News magazine, available now.

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NTC’s Dave LaRose Contributes to MISMO’s New Business Glossary

Nationwide Title Clearing announced that Dave LaRose will volunteer to support the Mortgage Bankers Association's Mortgage Industry Standards Maintenance Organization as it works to create a mortgage industry Business Glossary. MISMO announced plans to create the glossary earlier this year and called for industry volunteers to support the effort.

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ClosingCorp Introduces SmartEngine

ClosingCorp announced the release of SmartEngine which will help title companies centralize data processing and connect their rate and fee data to any third-party system, including title production systems, websites and ClosingCorp’s SmartFees, and SmartCalc products to reliably exchange information to produce estimates.

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Fannie Mae Nets Nearly $3 Billion in Reperforming Loan Sale

Fannie Mae announced on Tuesday that they have sold 13,500 loans with a cumulative unpaid principle balance of $2.99 billion in their third reperforming loan sale. Loans were divided into three pools, and sold to a single bidder: DLJ Mortgage Capital, Inc. Fannie Mae expects to close on the bid of this sale July 21.

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