The Mortgage Industry Standards Maintenance Organization, a subsidiary of the Mortgage Bankers Association, has formed an alliance with the Federal Housing Administration.MISMO said the purpose of the alliance is the development and publication of government standards for data and electronic mortgage transactions involving government entities within MISMO's framework and using its infrastructure. The FHA will join MISMO's Government Housing Workgroups, which are being developed with the help of Ginnie Mae, a MISMO ally since last fall. Members of the Government Housing Workgroups are expected to include representatives of interested government entities (starting with Ginnie Mae and the FHA) and private-sector companies. MISMO can be found on the Web at http://www.mismo.org.
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Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
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The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
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Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
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In an interview, Candor Technology's Sara Knochel recounts how she applies her childhood interest in languages and numbers to crucial home lending issues.
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Harmonizing standards for liquidity coverage ratios and discount window pledges could prevent the type of strains that led to last year's bank failures, according to a new paper whose authors include former Federal Reserve Govs. Dan Tarullo and Jeremy Stein.
March 27