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Capital Economics: Interest rates expected to climb much higher in 2019

21-09-2018

Rising interest rates are predicted to slow consumption and investment growth in 2019, according to the latest U.S. economics data from Capital Economics. This spike in market interest rates is already contributing to higher borrowing costs for households and businesses.Read more: https://www.housingwire.com/articles/46904-capital-economics-interest-rates-expected-to-climb-much-higher-in-2019

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Fiserv Lending Solutions rebranding as Sagent Lending Technologies

21-09-2018

Earlier this year, Fiserv sold more than half of its mortgage servicing business to private equity firm Warburg Pincus for $395 million. The plan was for the companies to operate the servicing business, called Fiserv Lending Solutions, as a joint venture. And that’s still the case, although the joint venture...

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Home sellers slashing prices nationwide, NYC real estate prices drop

21-09-2018

CNBC's Diana Olick reports that NYC real estate prices dropped as a new supply hit the market.Read more: https://www.cnbc.com/video/2018/09/21/home-sellers-slashing-prices-nationwide-nyc-real-estate-prices-drop.html

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Crowdfunding lending platform GROUNDFLOOR raises $4.2 million for itself, through crowdfunding

21-09-2018

GROUNDFLOOR, a real estate lending platform that raises its loan funds via crowdfunding from the public, recently announced it raised an additional $4.2 million for itself in 2018, ultimately bringing its total for the last two years to $6.2 million.Read more: https://www.housingwire.com/articles/46900-crowdfunding-lending-platform-groundfloor-raises-42-million-for-itself-through-crowdfunding

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Consumers can now freeze their credit for free

21-09-2018

It hopefully just got a little more difficult for scammers to abuse someone’s credit information, because, as of Sept. 21, 2018, consumers can now freeze their credit at all three of the major credit reporting agencies, for free. Consider this one the “Equifax rule.”Read more: https://www.housingwire.com/articles/46899-consumers-can-now-freeze-their-credit-for-free

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BMO Harris getting rid of their face-to-face loan officers

21-09-2018

BMO Harris Bank is getting rid of most of its customer-facing mortgage loan officers. According to a report from Milwaukee Journal Sentinel’s Paul Gores, the Chicago-based bank is going to put its energy behind its centralized mortgage call center and minimize its face-to-face LO presence in response to changing customer...

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USAA Bank plans to layoff 265 employees in November

21-09-2018

As the mortgage industry continues to navigate a tumultuous market, many are finding ways to offset costs. USAA Bank is just one of the many companies downsizing to stay afloat. The bank recently announced it will lose 265 employees in November.Read more: https://www.housingwire.com/articles/46897-usaa-bank-plans-to-layoff-265-employees-in-november

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3 places for a tropical beachfront retirement outside the hurricane zone

21-09-2018

You can live the laidback tropical lifestyle of beachfront retirement with no worries about the need for expensive hurricane insurance, according to International Living.Read more: https://www.cnbc.com/2018/09/21/3-places-for-a-tropical-beachfront-retirement-outside-hurricane-zone.html

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Airbnb petitions SEC for rule change to allow hosts to become shareholders

21-09-2018

Airbnb is asking the Securities and Exchange Commission for a rule change so its hosts can become part owners in the company, according to a report from CNBC’s Sara Salinas. The rule in question is Rule 701, an SEC rule governing equity awards of private companies. The changes proposed would...

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Here are 4 "buy" cities for multifamily investment

21-09-2018

Scouring the nation for your next cash cow multifamily acquisition? Look no further than these four underrated cities RealPage says have great upside. Things are a little too competitive for to be profitable for many investors in the primary markets. RealPage’s picks are not the sexiest markets, but their fundamentals...

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Apartment List: Housing legislation can't make it through Congress

21-09-2018

Out of the 10,222 bills introduced so far in the 115th Congress, only 115 of those had to do with housing and of those 115, not a one made it to the Oval Office. According to a report from Apartment List, despite growing national concern regarding the housing affordability crisis...

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MG Capital adds J.P. Morgan Executive Director Joanna Koutsos to its management…

21-09-2018

MG Capital, a private equity investment manager focused on Manhattan luxury residential properties, just added J.P. Morgan Asset & Wealth Management Executive Director Joanna Koutsos to its management advisory board.Read more: https://www.housingwire.com/articles/46887-mg-capital-adds-jp-morgan-executive-director-joanna-koutsos-to-its-management-advisory-board

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PromonTech integrates with GSF Mortgage

20-09-2018

PromonTech, a 2018 HousingWire Tech100 winner, recently announced it has integrated its point-of-sale platform, Borrower Wallet, with GSF Mortgage to further improve customer experience. GSF Mortgage Corporation President Chad Jampedro stated the company's mission is to deliver a safe, efficient and smooth transaction to for customers.Read more: https://www.housingwire.com/articles/46894-promontech-integrates-with-gsf-mortgage

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Wells Fargo expects to cut as many as 26,500 jobs in the…

20-09-2018

It’s been a rough few years for Wells Fargo and the next few years won’t be much better, for as many as 26,500 of the bank’s employees. That’s because the bank announced Thursday that it expects to see a reduction in headcount of as much as 10% of the company’s...

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HousingJobs: Why the job market for loan officers is promising

20-09-2018

Job hunting can be frustrating. At HousingWire, we want to make the process easier for job seekers in the industry. Our new service, HousingJobs, lists the latest gigs in the housing industry for loan officers, underwriters, processors, loan servicers, and tech and marketing pros. Check out this monthly blog for...

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