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HUD IG Comments On Inquiry Into Ginnie Mae’s Handling Of RMF

Late last year, the U.S. Department of Housing and Urban Development (HUD) Office of the Inspector General (OIG) announced the launch of an inquiry into Ginnie Mae’s monitoring of now-bankrupt lender Reverse Mortgage Funding (RMF), and its extinguishment from the Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program. While the

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Title Earnings Marred By Slow Market, Cybersecurity Incidents

Despite slower housing market conditions, Big Four title firms Stewart, First American and Fidelity National Financial all managed to earn profits in 2023. Stewart, which reported its earnings earlier in February, posted a revenue of $2.26 billion in 2023 and a net income of $30.4 million. Both figures were down

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Nick Bailey Out, Amy Lessinger In At RE/MAX

Nick Bailey is leaving RE/MAX. The firm announced the departure of its CEO and president on Thursday, along with its Q4 2023 and full year earnings. No reason was given for the departure. To fill Bailey’s vacant position, RE/MAX has promoted Amy Lessinger to president. Abby Lee and Susie Winders

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Fannie Mae Appoints Peter Akwaboah As COO

Government-sponsored enterprise (GSE) Fannie Mae announced on Thursday the appointment of Peter Akwaboah as executive vice president and chief operating officer, effective May 20, 2024. Akwaboah, who is currently serving as COO for technology and global head of innovation at Morgan Stanley, has nearly 30 years of experience in the

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‘It’s Scary Out There’: Mortgage Industry Reacts To Cyberattacks

Recent cyberattacks at mortgage companies have put the industry in alert mode, executives at top lenders, servicers, tech vendors and investors told HousingWire.  Mr. Cooper Group, loanDepot, First American and Fidelity National Financial Inc., parent of servicer LoanCare, have temporarily shut down their systems to contain cyberattacks that exposed their

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