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Fintech company Plaid raises $250 million, valued at $2.65 billion

12-12-2018

There’s a new unicorn in the fintech space, as Plaid announced this week that it raised $250 million in its Series C funding round at a reported valuation of $2.65 billion. Plaid, a technology platform that connects various applications with users’ bank accounts, has a growing presence in the mortgage...

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Gateway Mortgage hires new chief risk officer

12-12-2018

Gateway Mortgage Group has named Steven Patrick its new chief risk officer, tasked with overseeing the Oklahoma-based lender's enterprise risk management, compliance and quantitative analytics.Read more: https://www.housingwire.com/articles/47689-gateway-mortgage-hires-new-chief-risk-officer

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Democratic state senator blasts Amazon's HQ2 as a PR scam, saying 'New…

12-12-2018

"I don't think it's worth providing $3 billion and setting a precedent" for other companies to pick the city's pockets, state Sen. Michael Gianaris says.Read more: https://www.cnbc.com/2018/12/12/democratic-state-senator-says-new-york-fell-for-amazons-hq2-pr-scam.html

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Fannie Mae: Lender pessimism grows as mortgage demand falls

12-12-2018

Amidst declining mortgage loan demand and intensified lender competition, mortgage lender sentiment fell to an all-time-low, according to Fannie Mae’s Q4 2018 Mortgage Lender Sentiment Survey.Read more: https://www.housingwire.com/articles/47687-fannie-mae-lender-pessimism-grows-as-mortgage-demand-falls

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Former Accenture exec Michael Detwiler named Class Valuation CEO

12-12-2018

Class Valuation has named Michael Detwiler CEO, just one week after the Michigan-based appraisal management company announced that it was changing its name from Class Appraisal. With Detwiler in charge, Class will charge ahead with its rebrand to keep pace with tech advancements happening in the space.Read more: https://www.housingwire.com/articles/47686-former-accenture-exec-michael-detwiler-named-class-valuation-ceo

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Former HUD Secretary Julián Castro takes big step towards 2020 presidential run

12-12-2018

After previously hinting that he might run for president in 2020, former HUD Secretary Julián Castro just took a big step towards making it a reality. Castro announced on Wednesday that he is forming an exploratory committee for the purposes of determining whether he’s going to run for the Democratic...

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These rental suites double as American-made showrooms, but it was tough finding…

12-12-2018

Patrick Flynn launched GoLocal Suites, which provides fully furnished rental suites where nearly everything inside is made in America.Read more: https://www.cnbc.com/2018/12/12/these-rental-suites-double-as-made-in-america-showrooms.html

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The evolving role of chief compliance officers in selecting technology and vendors

12-12-2018

[Expert commentary] The digital mortgage promise is compelling: new technology and better workflow to meet all needs and requirements — all built for compliance and protecting participants from unnecessary risk but it's not guaranteed. As technology is evaluated and implemented, chief compliance officers must have a seat at the table.Read...

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Single women outpace single men on the path to homeownership

12-12-2018

American wage disparity keeps the average American woman making 20 cents less than her male counterpart, but data suggests that when it comes to homeownership, single women take lead. LendingTree’s latest analysis revealed that on average, single women own around 22% of homes, compared to the less than 13% of...

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Anthony Scaramucci’s SkyBridge Capital planning big investment in Opportunity Zones

12-12-2018

There’s a new notable name among those who plan big investments in Opportunity Zones – Anthony Scaramucci. Scaramucci famously served as White House communications director last summer, before flaming out in just 10 days. After returning to his Wall Street roots, Scaramucci's firm is planning to invest in Opportunity Zones.Read...

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TransUnion: Homeowners will start tapping into their equity in 2019

12-12-2018

Mortgage originations are falling and will continue to do so in 2019, but rising home prices could cause an increase in homeowners seeking to tap into their equity, according to the 2019 consumer credit forecast from TransUnion.Read more: https://www.housingwire.com/articles/47681-transunion-homeowners-will-start-tapping-into-their-equity-in-2019

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WhyHotel raises $10 million to expand service that turns empty apartments into…

12-12-2018

WhyHotel, a company that works with developers to turn newly built unleased luxury apartments into hotels, is set to expand thanks to a new capital raise. The company announced this week that it raised $10 million in its Series A funding round. The news comes just a few months after...

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It’s official: Trump nominates Mark Calabria to lead FHFA

12-12-2018

Late Tuesday night, President Donald Trump announced his choice to lead the Federal Housing Finance Agency – Mark Calabria. Calabria’s nomination must still be approved by the Senate, but with his extensive background in housing, and a Republican majority in the Senate, that isn’t expected to be a problem. Click...

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This map shows where Americans are struggling to repay their car loans

12-12-2018

A new map by the Urban Institute traces auto delinquency rates in counties across the U.S. Read more: https://www.cnbc.com/2018/12/12/auto-debt-in-america--mapped.html

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Mortgage applications rise 1.6% as interest rates drop to lowest level since…

12-12-2018

December may be a slow month traditionally for the housing market, but mortgage lenders are suddenly getting busier.Read more: https://www.cnbc.com/2018/12/12/mortgage-applications-rise-1point6percent-as-interest-rates-hit-lowest-level-since-sept.html

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