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The crucial role of community lending in our nation’s economy

Housing Wire

Our economy faces many challenges persistent high mortgage interest rates , a declining rate of existing home sales, elevated costs for basic goods and services, labor market imbalances, and rising health care costs to name just a few. The availability of funding at the local level is the driving force in building stronger communities.

Lending 364
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Dunmor CEO Franck Ruimy on Newfi partnership and the residential investment lending sector

Housing Wire

Last week, business-purpose residential mortgage lender Dunmor announced that it received a minority equity investment from Newfi Lending , a nonagency mortgage lender owned by funds managed by Apollo Global Management. Apollo has 16 lending platforms in the U.S. Ruimy: The transaction was completed with Apollo Global Management.

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Rate hires Connie Lindsay as SVP of mortgage lending in Washington

Housing Wire

The company named veteran mortgage professional Connie Lindsay as its senior vice president of mortgage lending in Washington state. “As the market stabilizes, I look forward to helping clients achieve their home financing goals with the support of Rate’s unparalleled technology and commitment to low rates.”

Lending 396
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Fairway, accused of redlining in Alabama, agrees to settle for $1.9M

Housing Wire

Department of Justice (DOJ) over the regulators’ allegations of mortgage lending discrimination in majority-Black neighborhoods of the Birmingham, Alabama , metro area. That was down 18% year over year, per Inside Mortgage Finance estimates. Fairway Independent Mortgage Corp. million civil penalty. The company ranked No.

Lending 467
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Planet Home Lending adds new regional sales manager

Housing Wire

Planet Home Lending hired Matt Kingsborough as regional sales manager, the Connecticut-based lender, servicer and asset manager announced Thursday. Kingsborough has more than 20 years of experience in mortgage lending and will be responsible for driving the company’s expansion plans in the western U.S. increase.

Lending 431
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The Federal Reserve’s housing recession dilemma

Housing Wire

The existing home sales market does not align with their dual mandate of ensuring stable personal consumption expenditures (PCE) or consumer price index (CPI) prices, as these measures account for rent. Instead, the existing home sales market is more about transferring commissions rather than causing significant job losses in the economy.

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CFPB rule applies mortgage protections to clean energy loans

Housing Wire

PACE loans which are often used to finance environmentally minded renovations, like the addition of solar panels have led to financial instability for some borrowers. The subprime lending crisis previously induced Congress to bolster lending protections, and the new rule now applies the same safeguards to the PACE program, the bureau said.

Loans 384