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Mojo - January 2014
Mojo - January 2014 If Ohio enacts the bill, it will join a number of other states that have done so in the last year: Arkansas, Colorado, Florida, and Illinois. He "would do well to take time from his fundraising schedule to meet with families in District One and

People in Business for Jan. 19, 2014
He'll provide support and direction to real estate lenders and their assistants in the Livingston, Helena and Bozeman markets. Hennessy has more than 20 years experience in mortgage lending and joined First Interstate two years ago as secondary market 

Will Obama push housing reform in SOTU Not expected this year, but ...
'We would welcome the White House's engagement in the GSE debate, particularly on the issue of bringing private capital back to the secondary mortgage market through ideas such as up front risk sharing,' said Dave Stevens, head of the Mortgage Bankers

New Loan Safeguards Leave Path for Higher-Risk Borrowers
A "For Sale" sign stands in the yard of a single family home in Denver, Colorado. The Read More. A "For Sale" Now, as regulators tighten mortgage rules and big banks resist lending to riskier middle-income Americans, HFAs across the U.S. are

Foreclosed Homes for Sale Perto Rico Vega Baja Casas Reposeidas Vega Baja FNMA Foreclosed Home #P090655. This is a home located in a great area and community. Off state road #2 ...

Legislators should listen to Ohioans who want payday lenders reined in

There was a day when usury wasn’t defended in polite society.

People recognized that charging unconscionable or exorbitant rates for loans made to the poorest of people was unfair, immoral and counterproductive in a civil society.

But in a resurgent laissez-faire era, annual interest rates of 200, 400 and even 600 percent no longer offend the sensibilities of a lot of people – including, it seems, far too many members of the Ohio General Assembly. If desperate poor people get caught up in a cycle of borrowing and re-borrowing money at rates that would make Shylock blush, well, it’s their own fault for not being more careful consumers.

There is a bill slowly – far too slowly – making its way through the Ohio Legislature to remove loopholes that the state’s 650 payday lenders have taken advantage of since 2008, when legislators approved a 28 percent cap on interest rates charged in the state. Ohio voters overwhelmingly rejected an attempt by the lenders to have the law overturned.

Newfi Lending Approved by Fannie Mae & Federal Housing Authority

/PRNewswire/ -- Newfi Lending, a technology-enabled residential mortgage lender and portfolio company of Warburg Pincus, today announced that it has been named by Fannie Mae as an approved Seller/Servicer, and also been approved by the Federal Housing Authority (FHA) as a "Full-Eagle" Mortgagee. These two approvals allow Newfi to independently fund, own, and service Fannie Mae & FHA loans.

Fannie Mae, formally known as the Federal National Mortgage Association (FNMA), is a government-sponsored business that helps Americans enjoy the benefits of homeownership by purchasing and guaranteeing large blocks of home loans from the secondary mortgage market. Fannie Mae's Seller/Servicer approval allows Newfi Lending to directly sell and service Fannie Mae loans.

In the FHA Lending Program, Newfi has been designated a "Nonsupervised Mortgagee," which is the official approval category for non-bank lenders. According to the FHA, this approval allows Newfi Lending to "originate, underwrite, close, endorse, service, purchase, hold, or sell FHA-insured Mortgages." FHA mortgage loans allow borrowers with limited cash or credit to qualify for a mortgage on their primary residence.