Real estate news

• Spotlight on what new HUD budget will do to LA's homeless housing efforts

  20-03-2017 23:32
  
  The city of Los Angeles just started to get the ball rolling on its efforts to solve its homelessness crisis. However, due to President Donald Trump’s new budget proposal that would severely cut costs for the Department of Housing and Urban Development, the city’s homeless efforts might not go according to the original plan.
  
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• Ocwen adds Robert Lipstein as independent member of board of directors

  20-03-2017 23:26
  
  Ocwen Financial announced Monday that it is increasing the size of its board of directors from eight members to nine members – for a few months. According to a SEC filing, Ocwen’s board is adding Robert Lipstein to serve as an independent member. Lipstein will be the ninth member of Ocwen’s board, until May 22, 2017, when Ronald Korn steps down from the board.
  
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• Experian partners with Finicity to digitize mortgage underwriting

  20-03-2017 22:51
  
  Aiming to make the mortgage process easier for lenders and consumers alike, Experian announced that it is partnering with Finicity to digitize the mortgage underwriting process. According to Experian, the partnership will allow loan approvals in as little as 10 days, and open up the credit box to roughly 64 million consumers that have limited or no traditional credit history.
  
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• Auction.com names Ali Haralson executive vice president of client management

  20-03-2017 22:37
  
  Haralson will oversee Auction.com's growing market share while assisting the company’s clients better mitigate the risks associated with distressed assets, leading to improved financial outcomes and a reduction in the neighborhood blight.
  
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• Ben Carson promises to take care of housing’s most vulnerable

  20-03-2017 22:29
  
  After President Donald Trump announced his budget proposal which would slash funding for the U.S. Department of Housing and Urban Development by $6.2 billion, HUD Secretary Ben Carson voiced his support of the action. However, Carson promised in an interview with Fox News this new funding cut would not hinder the department’s purpose, and that the most vulnerable will be taken care of.
  
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• New Louisiana program to help 2016 flood victims find a home

  20-03-2017 21:26
  
  Louisiana Housing Heroes, a new initiative from the state’s governor, the U.S. Department of Housing and Urban Development and Louisiana Housing Corp., seeks to help victims of 2016’s floods find affordable rental housing. The state’s governor asks all owners and managers of rental housing to help citizens who were displaced.
  
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• Who Will Be Most Impacted by Trump’s Proposed HUD Cut?

  20-03-2017 21:09
  
  One of the major casualties of President Trump’s proposed budget cuts to the Department of Housing and Urban Development (HUD) is Section 8 rental assistance, which stands to lose $3 billion. According to data recently analyzed by Trulia, that reduction would hit home—literally—for African-American, urban and young households.
  Drawing on data from the Census Bureau’s Current Population Survey (CPS), the analysis reveals that the share of African-American households benefi
  
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• Scott MacDonald: Social Media Shores Up Marketing

  20-03-2017 21:06
  
  Always on the lookout for tools that will help his firm grow, Scott MacDonald, broker/owner and president of RE/MAX Gateway in Chantilly, Va., is a big believer in RISMedia’s ACE (Automated Content Engagement) social media program.
  “I started using ACE about three months ago, and I see it as a great opportunity for content-rich material to get out to my different social media networks without my having to find it and put it up there,” he says. “There may be 2-3 times a we
  
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• An inside look at why one Fed president voted not to raise interest rates

  20-03-2017 20:56
  
  Minneapolis Fed President Neel Kashkari is the only Federal Reserve official who voted against raising the existing target range for the federal funds rate during the March meeting. Kashkari, in a rare move, explained his reasoning in a blog post on Medium. In his words, “Given that I reached a different conclusion than my colleagues, I thought it appropriate to provide an explanation.”
  
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• Former HUD senior advisor Richard Green: Here are the issues with Trump's budget

  20-03-2017 20:34
  
  Late last week, Julián Castro, who served as secretary of the Department of Housing and Urban Development from 2014 to 2017 under former President Barack Obama, told HousingWire that he has several issues with President Donald Trump’s budget proposal, which calls for a $6.2 billion cut to HUD’s budget. But Castro isn’t the only former HUD official to express concerns with Trump’s budget.
  
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• Maxine Waters accuses Wells Fargo execs of dodging fake account inquiries

  20-03-2017 19:28
  
  Wells Fargo executives are dodging additional Congressional inquiries into the bank’s massive fake accounts scandal, Ranking Member of the House Committee on Financial Services Maxine Waters, D-Calif., said last week in a letter sent to Wells Fargo CEO Timothy Sloan. Click the headline for more on Waters' accusation and what Wells Fargo says about it.
  
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• What lenders are missing when it comes to mobile technology

  20-03-2017 19:00
  
  The majority of homebuyers, especially Millennials, do extensive research online and on their mobile devices before making any purchase — especially for something as large as a home. While many lenders are jumping on the trend to incorporate technology into their customer experience, they are often ignoring the reasons why the technology matters. Here are five reasons why mobile technology should be key to every lender’s strategy.
  
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• [CHARTS] Notably fewer rejections for mortgage refis as credit profiles improve

  20-03-2017 18:06
  
  As interest rates continue to increase, mortgage refinance applications are decreasing. However, as the last few households rushed in to apply for a refi before rates increased further, rejection rates dropped. These charts from the Federal Reserve Bank of New York explain the latest trends in mortgage refinances.
  
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• First American launches new appraisal solutions technology

  20-03-2017 15:40
  
  First American Mortgage Solutions launched its new appraisal solutions technology which could change how many appraisals are done and the time it takes to do them. Although currently much of the time it takes to close a loan is held up by the appraisal process, First American’s appraisal offering could make that a thing of the past, shortening wait times as it combines technology with the traditional appraisal process.
  
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• Monday Morning Cup of Coffee: Trump tapping familiar face to lead DOJ's civil division?

  20-03-2017 05:01
  
  It looks like President Donald Trump is about to install a familiar face as the leader of the Department of Justice’s civil division. If that happens, what happens to the DOJ's recently preferred tactic of using the False Claims Act to extract settlements from lenders for supposedly misrepresenting the quality of loans to the Federal Housing Administration? The answer, and more, in your Monday Morning Cup of Coffee.
  
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