http://www.nationalmortgagenews.com/news/origination/no-doctor-underwriting-required-to-verify-disability-income-1042802-1.html
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Nat'l Real Estate Post:
Chase is the biggest contributor of the banks to contribute to Republican coffers. More banks are supporting Republican candidates than Democrat.
http://thenationalrealestatepost.com/midterms-changing-lending-tides/?
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Shared and taken by Xalima Miriel, San Martin de Trevejo, Spain
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Nat'l Real Estate Post:
Many lenders (Mountain View Lending for one) are beginning to bring back subprime loans (i.e. for self-employed, those just out of bankruptcy, low credit scores)
http://thenationalrealestatepost.com/subprime-on-the-rise/?
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Mortgage applications reverse trend rising 3.8%
Refinancings hold steady at 56%
Trey Garrison in HousingWire
-------------------------------------------Shared and taken by M. Friedrich, Belgium
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Diminishing value is something that’s been slowly creeping into the real estate industry for some time now. There’s less of a need for real estate agents who exist solely to provide consumers with information already available to them via Zillow. -- Brena Swanson in HousingWire
http://www.housingwire.com/articles/31632-the-potential-threat-to-old-school-real-estate-agents
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Nat'l Real Estate Post:
Ever heard of mini-correspondants? They are able to get around Dodd-Frank regulations. NAR supports them.
http://thenationalrealestatepost.com/nar-issues-cfpb-warning/?
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Shared and taken by Mike Wilson, Black and White of the Portuguese Catholic Church San Jose Ca
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Americans' Attitudes on Housing Return to Positive Trend; Indicators Suggest Continued Modest Recovery in 2015
http://www.fanniemae.com/portal/research-and-analysis/housing-survey.html
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San Francisco-based Social Finance is expanding past its standard student loan refinancing products and moving into the next important stage for financial borrowers, purchasing a home.
SoFi’s mortgages help homeowners in 4 specific ways:
Brena Swanson in HousingWire
- Low down payment options: SoFi offers mortgages with as little as 10% down on loans up to $3 million.
- Accessibility for first time homebuyers:Jumbo mortgages and first-time homebuyers are not required to have private mortgage insurance.
- Easy pre-qualification: Applicants are able to find out their rates and eligible loan amounts, in less than 24 hours, without completing a full application.
- Faster financing: SoFi uses a unique automated valuation model for property appraisals that does not require an in-person appraisal to approve a loan. Typical applications close in fewer than 21 days, compared to an industry average of 30-45 days.
http://www.housingwire.com/articles/31642-heres-how-one-student-loan-lender-will-get-mortgages-to-millennials
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Shared and taken by Darja Vizjak, Celje, Slovenia
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Freddie Mac is building a business to originate small apartment loans, between $1 million and $5 million, as part of its mandate to support affordable housing.
The average loan will be about $2.5 million, the McLean, Virginia-based company said today in a statement. The mortgage giant plans to originate as much as $1 billion of such debt in 2015, according to David Brickman, the head of multifamily operations at Freddie Mac. (FMCC)
Sarah Mulholland in Bloomberg News
http://www.bloomberg.com/news/2014-10-09/freddie-mac-expands-into-small-apartment-mortgages.html
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Consumer borrowing for August grew 5 percent to $3.24 trillion, according to last week’s report from the Federal Reserve. While consumer credit was still growing, the pace had slowed to its lowest level since November 2013, and the month’s total growth of $13.5 billion was well below market expectations of $20 billion.
The big driver for August’s lackluster scores was poorly performing credit cards. Revolving debt, such as credit cards, decreased by 0.3 percent to $880.3 billion, while non-revolving debt, such as student or car loans, grew 7 percent to $2.36 trillion.
brian.daiker@movementmortgage.com
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Shared and taken by Norbert Metz, Festung Marienberg / Würzburg
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Hispanics are likely to drive housing demand in the coming years, with the population expected to more than double to about 128 million by 2060, according to the Vice President of Housing and Community Outreach at Freddie Mac Christina Diaz-Malone. (Infographic)
Brena Swanson in HousingWire
http://www.housingwire.com/articles/31616-freddie-mac-infograph-hispanics-drive-future-of-homeownership
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From CoreLogic: CoreLogic Reports Home Prices Rose by 6.4 Percent Year Over Year in August 2014
Read more at http://www.calculatedriskblog.com/2014/10/corelogic-house-prices-up-64-year-over.html#bXKuHLV9qXhxyF3P.99
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Shared and taken by Jasbir Randhawa, Courtyard of the Chokhang Vihara or Soma Gompa (Buddhist monastery) in Leh (3,524 metres/11,562 feet altitude), the capital of Ladakh province in the Himalayan State of Jammu & Kashmir, N. India
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