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  • Consumer Sentiment for January Holds Strong
    Americans’ economic outlook has stayed upbeat, supported by robust employment and soaring stock markets, signaling spending will keep rising. So reports Bloomberg. The University of Michigan’s preliminary index of consumer sentiment for January was 99.1, inching downward from a seven-month high of 99.3 in December. As MarketWatch reports, the Federal… Read more »
  • Voice Assistants: The Next Great Tool for Originators
    While artificial intelligence is often referenced in the media and trade papers, AI sounds more like something from Star Trek and not a practical tool for helping salespeople. Nothing could be further from the truth, especially considering the rampant growth of voice-controlled technology. In 2019, there were an estimated 3.25… Read more »
  • Visa Buys Fintech Startup Plaid for $5.3B
    Visa has agreed to buy Plaid in a $5.3 billion deal, the companies have announced. The startup provides some of the financial plumbing for fintechs and has a mortgage industry presence. The acquisition indicates last year’s surge of fintech M&A will extend into 2020, as Bloomberg reports. Although better known… Read more »
  • Rates Inch Higher, But Geopolitics Could Help Borrowers
    While long-term mortgage rates edged upward last week, experts said ongoing global political uncertainty could benefit prospective home buyers. So reports MarketWatch. The average for the 30-year fixed-rate mortgage was up a single basis point, to 3.65%, in the week ending January 16, according to Freddie Mac, amid Mideast tensions… Read more »
  • Ex-Fannie Mae Sales Rep Sent to Jail Over Kickbacks
    A former Fannie Mae sales representative in Southern California has received a sentence of more than six years in prison for a property kickback scheme, according to federal prosecutors. So reports the Associated Press. Shirene Hernandez, 47, organized reduced-priced sales of Fannie Mae-owned properties to real estate brokers and herself—and… Read more »
  • CFPB Sues Monster Loans for Abuse of Credit Reports
    The Consumer Financial Protection Board (CFPB) has sued mortgage lender Monster Loans for allegedly obtaining consumer report information unlawfully and giving it to companies hawking debt relief for student loans, the agency has announced. According to the complaint (PDF), Monster Loans obtained consumer reports from Experian under false pretence between… Read more »
  • Bill Bodnar of MMG: Rates Remain Steady Amid Lots of Good News
    Bill Bodnar of The Mortgage Market Guide discusses the U.S.-China trade deal, which lifted some uncertainty, the wave of good economic news and the fact that stocks hit an all-time high. With this onslaught of good news, rates held steady. Bodnar says this is a remarkable story. The post Bill… Read more »
  • Ask The Expert: What’s Changes Are Coming to Licensing Requirements?
    Betty from Texas asked the following question: “I heard that there are changes coming in licensing requirements. I am planning on hiring several originators in the coming months. Can you give me the scoop?” Dave Hershman Dave: I have asked licensing expert, Scott Weghorst of Diehl and Associates, to give… Read more »
  • 2020 Mortgage Lending Resolutions: 7 Tips for a Successful 2020
    Maxwell has released its latest ebook, 2020 Mortgage Lending Resolutions: 7 Tips for a Successful 2020. The ebook is “less an attempt to predict the future and more an exercise in setting our intention for the year ahead. It’s about aiming high. It’s about setting goals that push us out… Read more »
  • Fed Vice Chair Says Economy is in a ‘Good Place’
    Federal Reserve Vice Chairman Richard Clarida said the U.S. economy is in a “good place,” during recent remarks. He also vouched for the central bank’s current stance on interest rates. So reports MarketWatch. Speaking before the Council of Foreign Relations in New York, Clarida said that “there was no reason… Read more »
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