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Short Takes: The Industry Strikes Back / Breach of Contract, Not Fraud / A Wingspan Candidate? / BKFS: A 10-Year Low in Foreclosure Starts / PHH Home Hires Former Bank Executive

May 24, 2016
Paul Muolo
Bad news for specialty servicers: Black Knight Financial Services said 58,700 foreclosures were started during April, the lowest reading in 10 years...
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Lenders Anxious About Ongoing HUD IG Audit of Downpayment Assistance…

May 24, 2016
Paul Muolo
National Council of State Housing Agencies Executive Director Barbara Thompson said the group is awaiting what she calls a “positive resolution of the issue.”
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FHA Production Slips in 1Q16; Just One Bank Among the Top 20 in FHA Retail

May 24, 2016
George Brooks
FHA loans as a share of all loan originations rose 7 percent year-over-year…
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House Approves Bill Allowing Temporary License for Loan Originators that Transfer from Banks to Nonbanks

May 24, 2016
Brandon Ivey
The SAFE Transitional Licensing Act of 2015 had strong support from the Mortgage Bankers Association, The Community Home Lenders Association and other trade groups.
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Short Takes: So Much for the Quiet on TRID Complaints / Mortgage Lenders Lean Toward Trump? / The Last Squeezing of the HARP Grapes / Former Wells Exec Joins Fannie Mae Board

May 23, 2016
Paul Muolo
So, who will mortgage professionals vote for come the fall election? Trump or Clinton?
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CFPB Experts: Chances of Being Examined Rest in Complaint Portal, Data

May 23, 2016
Paul Muolo
Nonbanks primarily need to worry about being examined for lending, but the CFPB has its ears open to servicing complaints as well…
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IMA, MIAC Out with New Servicing Deals

May 23, 2016
Paul Muolo
With rates holding steady the past two weeks, more servicing auctions could come to market…
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Final Jumbo Tally for 1Q16: $77 Billion; JPM Dethrones Wells as Market Leader

May 23, 2016
Brandon Ivey
Last summer, Chase started offering jumbos with credit scores as low as 680 and downpayments as small as 15 percent. Previously, the bank required credit scores of at least 720 and 20 percent down…
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Ginnie SVP Drayne: Influx of Nonbanks Has Raised A Lot of Issues for the Agency

May 23, 2016
John Bancroft
“We also have to pay more attention to third-party financing and third-party document custodians that new issuers are relying on,” Drayne added.
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Single GSE Security, CSP Still on Target for 2-Stage Launch; The Cost Thus Far: $270 Million

May 23, 2016
John Bancroft
Although the CSS joint venture has a projected budget and multi-year budget plan, it is working with FHFA about when to release that information…
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