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Fitch Upgrades GSE Ratings

July 14, 2022
Dennis Hollier
The ratings outlook for Fannie Mae, Freddie Mac and two of the FHLBanks have been upgraded from negative to stable, reflecting strong economic growth and heightened government support.
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State Regulators Set Work-From-Home Best Practices

July 14, 2022
Brandon Ivey
The American Association of Residential Mortgage Regulators’ best practices highlight issues state regulators should consider when approving a permanent work-from-home option for LOs employed by nonbanks.
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FHA Lengthens Timeframe for Acceptance of Appraisals

July 14, 2022
Brandon Ivey
FHA has extended appraisal validity periods, in some cases up to a year, to align more closely with standards at the GSEs and VA.
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FHA Expands COVID-Era Loan Eligibility

July 14, 2022
Monica Hogan
The new guidance applies to salaried and hourly wage earners as well as self-employed individuals.
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Grapevine: The Mysteries of Sprout / Better Hires

July 14, 2022
Paul Muolo and Brandon Ivey
There’s not much left at non-agency lender Sprout Mortgage but there are plenty of rumors, none of them good. Meanwhile, mortgage fintech Better.com has been adding senior managers.
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As the Cost-Reduction Hatchet Swings, Another Mortgage CEO Vows No Layoffs

July 13, 2022
Paul Muolo
CEO Cal Haupt says his employees are family, "Not the media version stated by others."
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MBS Issuance Down Sharply in 2Q22, ABS Gains

July 13, 2022
John Bancroft
Most of the civilized world saw the refi slump coming, but the GSEs posted a 3.7% drop in purchase-mortgage business...
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California Nonbank Settles FHA Fraud Charges

July 13, 2022
Monica Hogan
The whistleblower will receive $228,172 of the settlement proceeds...
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A Major Blood-Letting at loanDepot. Planned Layoffs of 2,000...

July 12, 2022
Paul Muolo
loanDepot is also the 15th largest owner of MSRs, according to Inside Mortgage Finance...
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Ginnie Issuance Declines Even as Purchase Mortgages Gain

July 12, 2022
Monica Hogan
The top-ranked Ginnie MBS issuer in 2Q22 was PennyMac Financial...
Read More
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