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Dual Mortgage - News

JPMorgan With Wells Fargo Lose Share to Small Rivals: Mortgages
(JPM) originations decreased 42 percent to $23.3 billion, outpacing the 27 percent fourth-quarter drop forecast by the Mortgage Bankers Association for the industry. Big banks are facing dual challenges of increased competition and a plunge in home

Judgment reserved on Fed first lady Janet Yellen
Judgment reserved on Fed first lady Janet Yellen Officially, the Fed has a dual mandate to maintain price stability while also maximising employment, something Democrat Yellen says can be done. “The mandate of the Federal Reserve is to serve all the American people,” she QE3, the third

CFPB shores up mortgage protections for military servicemembers
CFPB shores up mortgage protections for military servicemembers Lenders who proceed with a foreclosure against a homeowner, while simultaneously working with that borrower on a loan modification are dual tracking. The CFPB has said that mortgage servicers may no longer engage in dual tracking in any way, shape, 

JPMorgan boss saw 74% pay raise
JPMorgan boss saw 74% pay raise While JPMorgan emerged from the financial crisis as the only large US bank to avoid quarterly losses, the trading debacle in 2012 prompted some investors to call for the splitting of his dual roles. Shareholders rejected that proposal at a meeting in

Fed. Housing Finance Agency Dir. Ed DeMarco: on heels over Dual Track

The Senate Banking Committee held hearings Wednesday, probing mortgage services and foreclosure practices. Visit:

Dual agency can cost you: Beware of “double agents” when buying a home

, “On very fast deals, list prices and sale prices are significantly higher on houses sold via dual agency.”

The study also found evidence that some dual agents practice “first-resort selling.” The agents prod the seller to set a higher price and then try to convince “in-house” buyers to accept it.

In other cases, dual agents do the opposite. They convince the seller to set a lower price than the home could actually fetch. This is known as “strategic pricing.”

The study found “little difference between dual-agent (same agent) and within-agency (same agency, but different agent) deals.”

In both situations, the researchers discovered “evidence of distorted outcomes associated with dual agency.”

Why an “exclusive” agent is best

The easiest way to avoid dual agency is to hire a real estate agent who always works in a “single-agency capacity.”

If you’re a buyer, hire an agent who exclusively works as a buyer’s agent, never a seller’s agent.

Cloudvirga tool submits AUS data to both GSEs simultaneously

Cloudvirga, in collaboration with Freddie Mac, has created the capability for loan officers to submit mortgage loan data to both government-sponsored enterprises' automated underwriting systems simultaneously with a single click.

Currently, if a loan officer wanted to submit to both Fannie Mae's Desktop Underwriter and Freddie Mac's Loan Product Advisor, the user would have to pick one first and then go through several screens to validate and submit the information, get the findings back and if not, do the same thing over again with the other system.

Now, while lenders still need to pick which AUS they wish to submit the loan to, in the background Cloudvirga simultaneously sends the data to the other system as well, said Kyle Kamrooz, the co-founder of Cloudvirga.

"It's really incumbent upon the loan officer. They're bound by their own creativity and their understanding of the policies and guides" to find the GSE submission path with the least conditions and best pricing, said Rick Lang, vice president, Loan Advisor Suite strategy and integration for the single-family business at Freddie Mac. "There is no way for the average user to be that much of an expert on guidelines and policy and know every nook and cranny of both GSEs' credit box."

is dual mortgage on split investment property possible?

I'm looking to form a real estate partnership with a sibling, and I'm curious if it is possible to do something specific.

Can two people jointly own a property, put down a separate down payment and each get a separate mortgage on the property.