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Stairs Financial Platform Launches To Help First-Time Homebuyers

Texas-based mortgage platform Stairs Financial launched on Thursday after completing a $3.5 million funding round.  With first-time buyers accounting for just 26% of all home purchases in 2022 — a 41-year low — the mortgage market place aims to help first-time homebuyers with the right program and mortgage products. “Thousands

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Fannie Mae Expands Use Of AOLs In Selling Guide Update

In an update to its selling guide, Fannie Mae announced Wednesday that it was expanding the use of attorney opinion letters in lieu of title insurance. Previously, the only transactions ineligible for an AOL were those that involve loans secured by a unit in a condo project, co-op share loans,

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Senators Introduce Bill Targeting Mortgage Trigger Leads

A coalition of bipartisan lawmakers in the U.S. Senate on Wednesday introduced legislation targeting the practice of mortgage trigger leads. The bill, designated “S.3502,” is designed to “amend the Fair Credit Reporting Act (FCRA) to prevent consumer reporting agencies from furnishing consumer reports under certain circumstances,” according to the bill’s

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OneKey MLS Acquires Mid-Hudson MLS

New York State’s largest multiple listing service just got larger. OneKey MLS has acquired Mid-Hudson MLS according to an announcement on Monday, growing its membership to nearly 50,000 agents. The Poughkeepsie-based Mid-Hudson MLS is a broker-owned MLS serving over 1,400 agents in Dutchess County and the Mid-Hudson Valley area. Founded

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A Sub-7% Mortgage Rate Brings Holiday Cheer

The holidays have come early for the mortgage industry. Mortgage rates fell below the 7% threshold this week as markets prepared for Federal Reserve Chairman Jerome Powell’s announcement on Wednesday. The 30-year, fixed mortgage rate averaged 6.95% for the week ending Dec. 14, according to Freddie Mac‘s Primary Mortgage Market

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Truv CEO On Innovating The Income Verification Process

Editor in Chief Sarah Wheeler sat down with Kirill Klokov, CEO at Truv, to talk about the advantages of consumer-permissioned data for data quality and security. This interview has been edited for length and clarity. Sarah Wheeler: How did you get into the verification space? Kirill Klokov: It was through

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