Master Financial Inc., Orange, Calif., has announced the addition of a tool to its Web-based loan origination system that allows access to loan information through wireless devices such as cellular phones and personal digital assistants.The tool, 30Second Desk Mobile, is available through any cell phone or PDA with wireless Web browser capability that is HTML 3.2-compliant, the company said. "Whether sitting before their borrowers at a coffee shop or an open house, brokers can price and quote without the burden of bulky equipment or scrambling to find Internet access," Master Financial said.
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Higher utilization and aggregate excess payments point to pressure, according to TransUnion. Debt-to-income averages remain below traditional mortgage caps.
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Meet the top loan originators in the 28th edition of National Mortgage News' annual ranking and learn how they approach purchase business.
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Rocket, United Wholesale Mortgage and Pennymac said they will use the new government-sponsored enterprise credit metric as large lenders get on board.
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One-time Rocket exec Mike Fawaz founded brokerage and tech firm Origna8 with his former adversary's backing, which both say will enable it to quickly scale.
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Federal Reserve Chair Jerome Powell told reporters Wednesday that he would remain on the Fed board after his term as chair expires next month, resolving the last and most significant open question about his departure and the onset of Kevin Warsh's leadership at the central bank.
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President Biden had issued a rule in 2024 requiring newly constructed homes to abide by an energy mandate to be eligible for FHA- or USDA-backed mortgages.
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