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HousingWireHousingWire By every metric, the nation’s affordable housing crisis has reached unprecedented heights. A record-high 22.4 million renter households are cost burdened, meaning they spend at least 30% of household income on housing and utilities, and we are short 7.3 million rental homes that are affordable and available to renters…
Continue reading →HousingWireHousingWire Presidents and board chairs of the 11 Federal Home Loan Banks (FHLBanks), under pressure to pump more money into affordable housing, sent letters to the U.S. Department of Treasury on Thursday saying that simply raising their contribution threshold will not address the complexities of the current housing crisis. Instead, the…
Continue reading →HousingWireHousingWire Florida-based V.A.-focused mortgage lender NewDay USA has reached an agreement with the Consumer Financial Protection Bureau (CFPB) over allegations that it provided misleading and incomplete cost comparisons to borrowers seeking cash-out refinance loans, the parties announced on Thursday. The deal, which includes a $2.25 million civil penalty, was reached…
Continue reading →HousingWireHousingWire CompassEdge Optimal Blue’s CompassEdge hedging and loan trading platform helps lenders maximize profitability with unmatched pipeline risk management tools, and dynamic loan sale and MSR valuation functionality. Attendees will experience new AI-powered assistants in CompassEdge that help lenders reduce manual processes associated with profitability attribution, projecting future pipeline changes,…
Continue reading →HousingWireHousingWire Mortgage rates are finally dropping, but pending home sales fell even further into the toilet in July. That’s according to the July pending home sales index from the National Association of Realtors. On an annual basis, the index fell by 8.5% to the second lowest seasonally adjusted rate in…
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