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Are Your Originators Ready for a Purchase Money Market?

While mortgage rates are still historically low, many lenders were caught off guard when rates recently rose. They thought that interest rates wouldn’t increase until later in the year. Read more...

Fintech Startup Plaid Launches Income Verification Tool

Plaid has unveiled a new income verification offering, called Income, which aims to help people verify their income in order to qualify for mortgages and other big-ticket commitments. So reports TechCrunch. Read more...

Convicted Mortgage Fraudster Gets 21 Months for Auto Scam

A man who was previously convicted of mortgage fraud and was serving federal supervised release has received a 21-month prison sentence for his part in a separate auto loan scam, authorities said. So reports the Middletown (Conn.) Press. Read more...

Acquitted New York Developer Faces Fresh Fraud Charges

Upstate New York developer Bob Morgan, who five months earlier beat a federal mortgage fraud case, has been charged once again with mortgage fraud. So reports the Rochester (N.Y.) Democrat & Chronicle. Read more...

Ask The Expert: How Can I Take My Production to the Next Level?

A struggling loan officer asked: I had a pretty decent year last year, but I can’t seem to get over the hump and move to the next level from a production standpoint. My biggest issue is time. I spend so much time closing loans, I can’t seem to find the time to market. What do… Read more...

UWM CEO: Work with Rocket or Us, But Not Both

Mat Ishbia, CEO of United Wholesale Mortgage (UMW) put mortgage brokers on notice, saying they can either work with UWM or Rocket Mortgage, parent of Quicken Loans, but not both firms. So reports The Detroit Free Press. Read more...

Fraudster Who Didn’t Own Miami Property Tried to Sell It

An unidentified scammer tried to sell a vacant Miami lot that a local man already owned, and this isn’t uncommon. So reports NBC Miami. Read more...

Mortgage Startup Doma to Go Public in $3B Deal

Proptech company Doma, formerly known as States Title, has revealed plans to hit Wall Street in a deal worth $3 billion. So reports TechCrunch. Read more...

RMS Settles with NY Regulator for $1.5M Over Data Breach

Residential Mortgage Services will pay $1.5 million in a cybersecurity settlement with New York’s Department of Financial Services, the agency has announced. Read more...

The Two Biggest Issues for Mortgage Bankers in 2021

The recent deep freeze and power grid failure in Texas has raised questions about why state government did nothing to plan for the inevitable, even after receiving years of warnings and experiencing a similar cold snap in 2011. Read more...

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