New York moves to outlaw income discrimination in housing

While the Republicans leading the Department of Housing and Urban Development are pushing to increase the rents on those who use Section 8 vouchers to afford housing, the Democratic governor of New York is moving to ensure that wanting to use a Section 8 voucher cannot be used as a means to discriminate against a prospective resident.
Source: HousingWire Magazine

Guaranteed Rate picks Total Expert as tech partner for new marketing platform

Retail mortgage lender Guaranteed Rate announced this week it selected 2018 HousingWire Tech100 winner Total Expert as its strategic technology partner to deploy Red Arrow Connect, the lender’s new proprietary marketing operating system.
Source: HousingWire Magazine

ARMCO: Mortgage critical defect rate decreases in Q3 2017

As purchase mortgages shrank in the third quarter last year and refinances increased, the number of critical defect rates dropped, according to a new report from ACES Risk Management. Most of the defects occurred under the borrower and mortgage eligibility category.
Source: HousingWire Magazine

J.G. Wentworth names new CEO, plots expansion of mortgage business

Back in 2015, The J.G. Wentworth Company, the purchaser of structured settlement payments, annuity payments, lottery payments and other receivables that rose to fame with the “It’s my money and I want it now” advertising campaign, surprised many in the mortgage business by becoming a mortgage company itself. Now, the company is ready to move into its next phase by reorganizing its corporate structure and naming a new CEO.
Source: HousingWire Magazine

Mortgage REIT merger: Two Harbors acquiring CYS Investments

Nearly two years ago, Two Harbors Investment Corp., a mortgage REIT, shuttered its mortgage securitization business, wherein the company bought jumbo mortgages and securitized them. And now, the company is preparing to expand its agency RMBS business by acquiring CYS Investments, a fellow mortgage REIT that specializes in investing in agency RMBS backed by fixed-rate single-family residential mortgage loans, adjustable-rate mortgages and hybrid ARMs.
Source: HousingWire Magazine

HousingWire's weekly news podcast #4

This week, HousingWire Editor-in-Chief Jacob Gaffney is joined by Reporter Kelsey Ramírez and Online Editor Caroline Basile to discuss the CFPB’s final amendment to the Know Before You Owe rule, disappointing GDP results, mortgage rates, and Freddie Mac’s expansion of its 3% down program.
Source: HousingWire Magazine

Plaza Home Mortgage names Philip Yee and James Pathman to executive roles

National wholesale and correspondent lender Plaza Home Mortgage announced this week that James Pathman and Philip Yee have joined the company as its chief information officer and SVP, chief marketing officer, respectively. The company explained that the additions of Pathman and Yee are key components of its long-term growth plan.
Source: HousingWire Magazine

Trump tax cuts fail to provide boost to nation’s GDP

Gross domestic product was a disappointment, shrinking in the first quarter despite the recent tax cuts passed at the end of 2017. One expert explained that the current slowdown reflects an ongoing housing crisis, and what can be done to reverse it.
Source: HousingWire Magazine

Altisource says CFPB will not fine company over relationship with Ocwen

Just over a year ago, Altisource Portfolio Solutions disclosed that the Consumer Financial Protection Bureau was investigating the company’s relationship with Ocwen Financial, but now, it looks that investigation is over. Altisource revealed Thursday that the CFPB told the company that its investigation has been completed and that the agency will not pursue an enforcement action against the company.
Source: HousingWire Magazine

Planet Home Lending hires Michael Kula as new chief operating officer

Privately held mortgage lender and servicer Planet Financial Group announced on Thursday that Michael Kula, has joined the company as its chief operating officer. Kula’s experience includes 30 years in leadership and management positions within mortgage businesses. As COO, Kula will be responsible for coordinating execution of the Planet Home Lending’s strategy plans and initiatives across its diverse business lines, the company said. 
Source: HousingWire Magazine