The mortgage business faces a challenging -- not to mention lucrative -- future, according to Regina Lowrie, president of Gateway Funding and the new chair of the MBA.Of the 30 million new Americans expected over the next two decades, up to half will need a mortgage, Ms. Lowrie said at the group's rain-soaked annual convention in Orlando. The hard part will be accommodating them, for they will require $6-7 trillion in capital from the international markets. Ms. Lowrie called it "a huge challenge." In her inaugural address, she also took a swipe at President Bush's Advisory Panel on Federal Tax Reform, which has discussed the possibility of lowering the cap on the mortgage interest deduction from $1.1 million to $300,000-$350,000. "Enacting this proposal could turn a healthy housing market upside down," she told the convention. Such a change in policy would do nothing to increase the nation's homeownership rate or eliminate the ownership gaps between whites and nonwhites, she said. The tax reform panel's report is due on the president's desk no later than Nov. 1.
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While existing home sales aren't measured in GDP, many of the things which come along with it are, and those are likely to start trending down, First American said.
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While foreclosure numbers in the first six months of this year were up compared to 2024, starts eased as the spring progressed, according to Attom.
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The merger of the firm's lending arm and Figure Markets is a reaction to a thawing regulatory environment.
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The legislation is a direct response to HUD's effective elimination of the PAVE task force and comes amid ongoing debates over DEI policies in the federal government.
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The Indiana loan officer was previously sued by Ruoff Mortgage for fraudulent originations it estimated would cost the company over $1 million to repurchase.
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The new arrangement will allow Blend customers to have access to Doma's artificial intelligence-powered instant decisioning title insurance technology.
July 18