Open Mortgage, a multichannel lender based in Austin, Texas, has been approved as a Fannie Mae seller.
"Now that we're 'Fannie direct,' meaning we don't need to go through an intermediary servicer, we can approve more and different types of loans, and do it faster," said Nick Whitten, the company's senior director of secondary marketing.
Open Mortgage, which was founded in 2003 and has retail locations nationwide, also said it plans to offer more products and ultimately service its own loans.
According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
Leaders of ORNL Federal Credit Union are piloting Zest AI's new artificial intelligence-powered assistant to ensure equitable underwriting practices and measure performance against similar institutions.
McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.
The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
