Origination

It’s more of the same when it comes to mortgage rates entering 2021, as once again they have dropped to lowest point in the 50-year history of Freddie Mac’s Primary Mortgage Market Survey.

Fannie Mae and Freddie Mac’s underserved markets plans usually cover a three-year period, but their terms have been shortened due to the pandemic.

When the Uniform Residential Loan Application transition deadline hits on March 1, a data set within Fannie Mae’s Desktop Underwriter Program, which many lenders have used for a host of functions, will no longer be supported and unprepared lenders could later experience disruption.

The deal will add wholesale production to Guaranteed Rate's retail business.

The multifamily lender named Michael Levine as board chairman, succeeding Dominick Ciampa, who held the role for 10 years. The move comes less than a week after longtime CEO Joseph Ficalora abruptly retired and was replaced by Thomas Cangemi.

The largest U.S. shopping center became delinquent on its debt last year after its owner Triple Five Group began skipping mortgage payments, citing hardships from the COVID-19 pandemic.

Mortgage applications decreased 4.2% over the final two weeks of 2020, but the strong demand for home buying throughout most of the year should continue, according to the Mortgage Bankers Association.

A panel appointed by the Consumer Financial Protection Bureau said Congress should consider authorizing the bureau — and not the Office of the Comptroller of the Currency — to issue federal charters to fintech companies.

The transaction was led by existing investor Insight Partners, with TVC Capital as a minority partner.

The complaint unsealed Monday alleges three individuals and several companies they owned or controlled engaged in False Claims Act violations involving short sales of properties that had Federal Housing Administration-insured mortgages.