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MBA, NMSA Suggest Fixes To FHA’s Proposed Loss Mitigation Option

The Mortgage Bankers Association (MBA) and the National Mortgage Servicing Association (NMSA) are expressing their views on a recently revised Federal Housing Administration (FHA) loss mitigation proposal, stating that it needs additional adjustments to effectively address the challenges it is designed to tackle. The proposed policy FHA in May submitted

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Freddie Mac Approves Payroll/income Verification Vendor Truv On LPA Platform

Government sponsored enterprise Freddie Mac has approved mortgage technology company Truv for both payroll verifications and consumer-permissioned income. With the new integration, lenders will have access to the Truv platform to obtain and transmit information and data required on Freddie Mac’s Loan Product Advisor platform for the income modeling assessment

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Greg Hart To Leave Compass As The Firm Eliminates COO Role

Compass’ chief operating officer Greg Hart will leave the brokerage at the end of the year, according to a document filed with the Securities and Exchange Commission on Tuesday. According to the filing, Hart’s position is being eliminated and Compass will not seek to fill the vacancy. As such, Hart

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The Fed Holds Rates Steady, Expects 3 Rate Cuts In 2024

The Federal Open Markets Committee (FOMC) held its short-term policy interest rate steady at a range of 5.25% to 5.5% at its last meeting of the year on Wednesday. It was the fourth pause recorded in 2023.  Federal Reserve Chairman Jerome Powell said that while inflation remains ‘elevated,’ the Fed

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Rocket Homes Looks To Merge House Hunts With The Open Road

Rocket Homes is looking to make your daily commute part of your home search experience. The company announced Tuesday that the Rocket Homes iOS app is now available on the infotainment screen of a user’s car via Apple CarPlay. According to the release, homes listed for sale can be seen

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UWM To Offer Discounted Rates On Government Loan Refis

Top U.S. mortgage lender United Wholesale Mortgage (UWM) is offering discounted rates on some government loans until January for brokers to create their own “refi boom,” the company announced on Wednesday.  The initiative includes three new exclusive rates – 5.749% paying 1.5 points, 5.999% paying 2 points and 6.249% paying 2.5 points

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