Jacob Passy is a reporter with National Mortgage News, covering breaking news in the residential mortgage industry. Passy has been with SourceMedia since 2015 and previously served as a breaking news reporter for American Banker. His work has appeared in numerous publications including CNBC, NBC News and the Wall Street Journal's Speakeasy blog. He is a graduate of the CUNY Graduate School of Journalism and Tufts University.
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Mortgage originators aren't lending enough to people of color or the poor in the St. Louis, Milwaukee and Minneapolis metropolitan areas, the National Community Reinvestment Coalition said.
By Jacob PassyJuly 20 -
A California man was sentenced to more than nine years in federal prison for his role in leading a mortgage loan modification scheme that defrauded more than 1,000 homeowners nationwide.
By Jacob PassyJuly 19 -
Fifth Third Bancorp has named Edward Robinson senior vice president and head of Fifth Third Mortgage.
By Jacob PassyJuly 8 -
The market gyrations following the United Kingdom's vote to leave the European Union have an upside for mortgage lenders, as already-falling interest rates are expected to boost home purchases and refinancing.
By Jacob PassyJune 24 -
Private-equity firm GTCR is set to acquire Optimal Blue, a Texas-based mortgage tech firm, and it is planning more deals that would offer the industry ways to strip out further costs.
By Jacob PassyJune 17 -
The Consumer Financial Protection Bureau and other federal banking agencies should do more to protect consumers with limited English proficiency, a report from Americans for Financial Reform says.
By Jacob PassyMay 27 -
Homes owned by single men are more valuable and appreciate faster than properties owned by single women, according to an analysis from RealtyTrac.
By Jacob PassyMay 26 -
Ninety-two percent of homebuyers are reviewing their mortgage documents before closing on the loan since the Truth-in-Lending Act/Real Estate Settlement Procedures Act integrated disclosures, or TRID, went into effect in October, versus 74% previously, a survey by the American Land Title Association found.
By Jacob PassyMay 23 -
Ninety-two percent of homebuyers are reviewing their mortgage documents before closing on the loan since the Truth-in-Lending Act/Real Estate Settlement Procedures Act integrated disclosures, or TRID, went into effect in October, versus 74% previously, a survey by the American Land Title Association found.
By Jacob PassyMay 23 -
Home sales growth has been tepid nationwide thanks largely to a cooling down of the housing market in the West, according to an analysis from Summit Valuations.
By Jacob PassyMay 23