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MGIC Names Stephen Mackey New EVP-Chief Risk Officer

Mortgage Guaranty Insurance Corporation (MGIC), principal subsidiary of MGIC Investment Corporation has selected Stephen Mackey to be EVP-Chief Risk Officer. Mackey will be stepping in to take newly retired Lawrence Pierzchalski’s place and will begin in his new position in late June.

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Top MI Companies Release Financial Data

Essent Group Ltd. more than doubled their net income for Q1. According to data released by the company, the net income for Q1 2015 was $38.4 million or $0.38 per diluted share, compared to $15 million or $0.18 per diluted share for Q1 2014.

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Watt Announces One-Year Extensions for HAMP and HARP

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Speaking at the Greenlining Institute 22nd Annual Economic Summit, Watt announced a one-year extension of the government's two affordable housing programs, which began in 2009 in response to the housing crisis. HARP was set to expire at the end of this year, while HAMP was extended last July until the end of 2016.

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Mid America Mortgage Names Adam Rieke Director of TPO Lending

Mid America Mortgage, Inc., based in the Dallas suburb of Addison, Texas, has announced the hiring of Adam Rieke as director of national TPO lending. Rieke's 23-year career in the mortgage lending arena includes managing several highly profitable wholesale lending operations. In his new role at Mid America, Rieke will focus on the TPO lending sector.

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Ranking: Best and Worst Presidents by Homeownership Rate

There are many metrics by which to judge the current administration against those of the past. This week, ValueWalk ranked the ‘best’ and ‘worst’ presidents as judged by their homeownership rates. Making ValueWalk’s ‘best’ list were Presidents Clinton, Johnson (Lydon), and Carter who saw homeownership expand during their presidencies by 5.1 percent, just over 1.1 percent, and just under 1.1. percent, respectively. ValueWalk ranks President Obama as one of the worst presidents when it comes to homeownership numbers, followed by President Regan

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DocMagic Announces Full-TRID Functionality on Product Suite

Torrance, California based DocMagic, Inc. announced that it has completed all required TILA-RESPA Integrated Disclosure rule (TRID) software development and testing so that the company’s clients and LOS vendors can now take advantage of these enhancements and ensure they are prepared for the August 1 TRID deadline.

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Lender Survey: Credit Scores Matter, Often More than Downpayment Amounts

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In their “Eye on Housing” blog, the National Association of Builders (NAHB) broke down the findings of the April 2015 Senior Loan Officer Opinion Survey (SLOOS), conducted by the Federal Reserve Board. In the survey, banks were asked questions that attempted to judge how they were responding to GSE guidelines issued on November 20, 2014 on life-of-loan representation and warranty exclusions.

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Accurate Group Launches New Property Inspection Tool

Appraisal management company Accurate Group announced the launch of a new interior property inspection tool—iValueNet. The Cleveland, Ohio-based company said that iValueNet is part of their ValueNet suite of appraisal tools that can be utilized by banks, credit unions, and mortgage lenders as a cost effective-alternative to other interior appraisal options on the market.

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PHH Corporation Releases Q1 Financial Results

After experiencing a $191 million loss from continuing operations for the 2014 year, PHH Corporation was able to make a complete turnaround for the first quarter. The company managed to wrap up Q1, ending March 31, 2015, with a net income of $21 million.

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Fannie Mae Reports Net Income of $1.9 Billion

Fannie Mae reported a net income of $1.9 billion for the first quarter of 2015, up from $1.3 billion from the previous quarter, according to Fannie Mae's Q1 2015 financial results released Thursday. The primary driver of the nearly 50 percent quarter-over-quarter increase in net income was lower fair value losses for Q1, according to Fannie Mae's announcement.

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