Patrick Barnard

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HUD Seeks to Amend Interpretation of Fair Housing Act’s Disparate Impact Rule

The U.S. Department of Housing and Urban Development (HUD) is seeking feedback on a proposed rule to amend the HUD interpretation of the Fair Housing Act’s disparate impact standard. The proposed rule as amended (and submitted to the federal register today) would provide more appropriate guidance on what constitutes unlawful disparate impact to better reflect the Supreme Court’s 2015 ruling …

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Calyx’s Zip POS Now Integrated with FormFree’s AccountChek

Calyx Software’s recently updated Zip mortgage point-of-sale (POS) solution is now integrated with AccountChek by FormFree. AccountChek is an automated asset verification platform that accelerates credit decisioning. The platform uses augmented intelligence and more than 1,000 proprietary algorithms to generate digital verification of assets. AccountChek was the first electronic asset validation solution to be accepted for Fannie Mae’s Day 1 …

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Jeff Weinstock: MISMO Standards Pave the Way for Interoperability

PERSON OF THE WEEK: To improve communication between software vendors in the loan origination process, the Mortgage Industry Standards Maintenance Organization (MISMO) began establishing industry-wide standards in 1999, in response to the rapid growth of computerized LOS and underwriting engines. Over the years, MISMO has implemented a series of standards designed to more securely, economically and efficiently exchange loan information …

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Housing Starts Fell Again in July But Permit Activity Increased

Housing starts continued to disappoint in July, falling 4.0% compared with June to an adjusted annual rate of 1.191 million, according to estimates from the U.S. Census Bureau and U.S. Department of Housing and Urban Development. Although that is down from the revised June estimate of 1.241 million units, it is up 0.6% from 1.184 million units in July 2018. …

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Fannie Mae Auctioning Portfolio of RPLs with UPB of $5.1 Billion

Fannie Mae seeks to offload 29,600 re-performing loans (RPLs) from its portfolio – part of the company’s ongoing effort to shed riskier assets in order to protect taxpayers. The loans, which will be auctioned to the highest qualified bidders, have a total unpaid principal balance (UPB) of approximately $5.1 billion. Buyers of these RPLs are required to offer loss mitigation …

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Fannie Mae: Low Rates Will Boost Refinance Volume in 2019

While consumer demand for housing remains strong, limited inventory, particularly on the affordable end, continues to hold back the single-family purchase market, according to a recent report from Fannie Mae’s Economic and Strategic Research (ESR) Group. The good news for mortgage lenders, of course, is that lower rates are boosting refinance volume – a trend that is expected to continue …

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Mortgage Rates Hold at Near-Historic Lows

Mortgage rates continued to hold at near-historic lows this week, as the average rate for a 30-year fixed-rate mortgage remained flat compared with the previous week at 3.60%, according to Freddie Mac’s Primary Mortgage Market Survey. A year ago at this time, the average rate for a 30-year was 4.53%. For the week ended April 15, the average rate for a …

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Optimal Blue Now Integrated with Ellie Mae’s Encompass LO Connect

Optimal Blue‘s product and pricing engine is now integrated with Ellie Mae’s Encompass LO Connect, the mobile version of Encompass for LOs on the go. By extending the Optimal Blue integration to the “opportunities” view within LO Connect, loan officers can accurately quote the most appropriate financing alternatives based on the borrower’s unique mortgage loan scenario – all from the …

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