What should be on a loan officer’s to-do list going into 2024

By: ameer@trustedteam.com

'Tis the season to work a little harder. While many professionals are taking a break and spending time with family and friends during the holidays, industry stakeholders urge loan...

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How loan originators survived a cutthroat mortgage business in 2023

By: ameer@trustedteam.com

In his 20 years in mortgage banking, no year has compared to 2023 in terms of difficulty, said Ben Cohen, Guaranteed Rate’s managing director and a top-producing loan officer.  “This...

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J.P. Morgan Mortgage Trust issues $257.8 million RMBS for second lien HELOCs

By: ameer@trustedteam.com

Interest on a fixed pool of prime HELOCs is the collateral for pass-through certificates issued by J.P. Morgan Mortgage Trust 2023-HE3 (JPMMT Trust 2023-HE3). United Wholesale Mortgage and loanDepot.com are...

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Basel III endgame: 5 things to watch in 2024

By: ameer@trustedteam.com

Michael Barr, vice chair for supervision at the Federal Reserve, left, shakes hands with Martin Gruenberg, chair of the Federal Deposit Insurance Corporation at a Senate Banking hearing in...

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Home prices extend records, rising for a ninth straight month

By: ameer@trustedteam.com

Home prices in the U.S. rose for a ninth straight month, reaching a fresh record as buyers battled for a stubbornly tight supply of listings.A national gauge of prices...

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Home price growth slows but should keep rising in 2024

By: ameer@trustedteam.com

The Federal Housing Finance Agency's Home Price Index increased in October from September, but at a more modest pace than what the S&P CoreLogic Case-Shiller data showed.This data also...

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Hackers obtained Social Security numbers in Fidelity cyberattack

By: ameer@trustedteam.com

Following a pre-Thanksgiving cyberattack at parent company Fidelity National, mortgage subservicer Loancare disclosed the degree of data compromise that has occurred from the incident thus far.In a filing with...

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Troubled CRE loan delays merger plans for Arizona banks

By: ameer@trustedteam.com

Despite a credit-quality issue vexing Bancorp 34, its $28 million merger with another Arizona banking company — CBOA Financial — is on track for completion in the first quarter,...

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Class action against PHH Mortgage for lack of OT pay gets certified

By: ameer@trustedteam.com

Former loan officers of PHH Mortgage were handed a preliminary win as their class action lawsuit, which accuses the lender of improperly calculating overtime pay, was certified by a...

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PRPM raises $236.4 million in RMBS

By: ameer@trustedteam.com

Fitch Ratings views the home price values of the PRPM 2023-NQM3 pool as 9.1% above a long-term sustainable level. PRPM 2023-NQM3 Trust has issued residential mortgage pass-through certificates...

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