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Author Archives: Tory Barringer

Tory Barringer began his journalism career in early 2011, working as a writer for the University of Texas at Arlington's student newspaper before joining the DS News team in 2012. In addition to contributing to DSNews.com, he is also the online editor for DS News' sister publication, MReport, which focuses on mortgage banking news.

Mortgage Denials Point to Much Tighter Market

In a report released Tuesday, researchers at the Urban Institute (UI) say that previous "traditional" observations of mortgage denial rates (calculated by dividing the number of denied mortgages by the total number of applications) provide an inaccurate look at credit availability because they include applicants with near-perfect credit profiles—those who are unlikely to be turned down for most products, in other words.

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LenderLive Gets New Majority Investor

New York-based private equity firm Aquiline Capital Partners has signed a definitive agreement to become majority investor in Colorado's LenderLive Network, Inc., both companies announced this week.

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U.S. Housing Starts Dip in November

According to a report released Tuesday from the Commerce Department, homebuilders began construction on new houses in November at a seasonally adjusted annual rate of 1.03 million, down 1.6 percent month-over-month and 7 percent year-over-year. Despite the retreat in housing starts, there were a few pieces of good news in Tuesday's report.

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Mortgage Application Fraud Continues to Climb

In its annual analysis of mortgage fraud across the country, LexisNexis Risk Solutions found 74 percent of mortgages submitted to its Mortgage Industry Data Exchange last year involved some sort of fraud or misrepresentation on the application. That figure compares to 69 percent in 2012 and 61 percent in 2011.

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Community Lending Group Criticizes Government Sweep of GSE Profits

In a recent letter addressed to Treasury Secretary Jack Lew and Mel Watt, director of the Federal Housing Finance Agency (FHFA), the Community Mortgage Lenders of America (CMLA) urged the government to "take immediate action to cure the under-capitalization" of the GSEs by re-amending the payment terms established when they were forced to take a bailout after the crash.

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Builder Confidence Sees Small Setback

Following a four-point uptick in November, the National Association of Home Builders' (NAHB) Housing Market Index dropped one point to 57 in December, the group said Monday. A reading above 50 indicates that market conditions are viewed more as good than bad.

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Caliber Welcomes New Regional VP

Full-service national lender Caliber Home Loans announced a new addition to its team, naming Kevin A. Ginsburg to the role of regional VP of Texas' central and southern regions.

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$2.7B Servicing Rights Portfolio Comes to Market

The offering, announced Friday, consists of Fannie Mae and Freddie Mac mortgages with more than $2.7 billion in unpaid principal balance, according to MountainView Servicing Group, which is acting as advisor on the sale. Bids are due December 18.

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Consumer Sentiment Rises in First-Look Reading

The Thomson Reuters/University of Michigan survey of consumer sentiment came in at a preliminary index reading of 93.8 for December, up from November's final reading of 88.8. December's report beat economists' forecasts by more than four points and puts the index at its highest level since January 2007.

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