Finance

The share of companies experimenting with artificial intelligence has increased, but full deployment is another matter, a Fannie Mae survey found.

The transaction was scheduled to be completed in the first half of this year, and a "substantial first close" was already announced in February.

Lenders could gain efficiencies from advances in artificial intelligence as the related development of alternative data potentially opens up the market to more borrowers, but hurdles exist.

The Consumer Financial Protection Bureau issued a mortgage report based on statistics from 2022 and is looking for ways to simplify the refinance process while considering changes to mortgage servicing standards.

Reluctance to eliminate staff with the hope that business will turn around has been a driver of the multiple quarter stretch of industry losses, its latest study of mortgage lenders found.

Credit ratings were cut on the highest number of commercial mortgage-backed securities in "recent memory" last week, according to strategists at Bank of America Corp.

More than one securitization per month resulting from multiple disbursements of a single loan will be permitted beginning Oct. 1, the guarantor said.

The threat of instability from that group is immaterial in comparison to the existential risk created by the U.S. Treasury, argues the chairman of Whalen Global Advisors.

The proposal by a regulator overseeing government-related loan buyers could cut companies with small infractions off from a key source of business, groups say.

The Federal Reserve's rate hikes so far are just "catching up," the JPMorgan chairman and CEO says. Dimon predicts inflation will be at 4% early next year and "won't be coming down for a whole bunch of reasons."

Lenders are brushing up on ways to minimize losses associated with the increasing costs to fund mortgage pipelines.

A new label and disclosures for certain mortgage securities may create more of an impetus for lenders to extend credit to underserved populations.

The real estate investment trust arm of two affiliate mortgage-related companies could reduce other debt and finance purchases of loans, servicing or securities.

The impact on things like servicing rights would raise costs even for lenders that aren't banks, according to Mortgage Bankers Association President and CEO Bob Broeksmit. Others disagree.

The mortgages are part of a program that received congressional scrutiny earlier this year.

But at the same time, the publicly traded company is selling off another type of housing finance asset to some large depository institutions.

Spreads with the 10-year Treasury are unlikely to narrow from outsized levels even as inflation cools and Fed tightening ends, said Odeta Kushi, an FA economist.

The Federal Housing Finance Agency also is offering more opportunities for public dialogue as stakeholders debate how fast the process should move forward.

Lenders will be adjusting to new mandates regarding mortgage applicants that don't have payments for education debt on their credit reports.

Michael DeVito has been able to grow the government-sponsored enterprise's net worth, but at the current pace and without a rule change, it could take 10 years to build enough capital to exit conservatorship.