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Using the MERS System helps stop mortgage lenders from fraudulently pledging the same loans to multiple warehouse lines. Most line providers register as interim funders. Some recent entrants may not.
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Public officials must make it clear once and for all that the law forbids them to deny or delay a loan because an applicant is pregnant or on parental leave. There was already confusion about this part of the Fair Housing Act in past years, and the ability-to-repay rule that took effect in January has made it worse. …
Big data techniques could help mortgage lenders home in on the most qualified borrower leads, but uncertainty about the new technology has many originators clinging to existing practices with a known track record.
CIT Group, which is acquiring the former IndyMac, will let the bank's $7.6 billion mortgage book run off. "It is an attractive portfolio," the CEO says.
Independent mortgage lenders are concerned that regulators will use the report as an excuse to raise minimum net worth requirements for smaller lenders.
Lower rates of return would require insurers to charge higher premiums or stop covering loans to borrowers with lower credit scores. (You know, the ones the government wants to help?)
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