Origination

CEO Michael DeVito told attendees at the Mortgage Bankers Association’s annual convention in San Diego that the move is among the types of “cash-flow underwriting” updates the government-sponsored enterprise is considering.

While September's single-family starts were unchanged from the prior month, multifamily activity fell 5%, according to government data.

The company blamed its decision to stop new acquisitions for the rest of the year on the labor shortages roiling the U.S. economy.

After permitting remote appraisals on an interim basis during the pandemic, Fannie Mae and Freddie Mac will accept them outright starting in early 2022, the acting head of the Federal Housing Finance Agency said.

Changes in the Fed, including the replacement of Jay Powell as chairman, might shift the board back to a dovish economic position.

The multichannel lender plans to expand its footprint in the non-agency market as a result of the majority shareholder investment in the company changing hands.

The transaction fills in gaps in each company's capabilities for serving their customers, monetizing data for SimpleNexus, and mobile capabilities for LBA Ware.

The system is being rolled out to Motto Mortgage franchisees first and then to the broader mortgage broker market in January.

As the expiration of a national eviction moratorium puts economic pressure on low-income households, the Consumer Financial Protection Bureau is said to be considering investigating credit bureaus, debt collectors and large landlords accused of harming renters. But some argue the agency would be overreaching.

Cities in Texas and the South issued the largest number for single-family housing, with all regions seeing consistent yearly growth.