The Mortgage Industry Standards Maintenance Organization has announced the formation of an alliance with Ginnie Mae that will establish one or more Government Housing Workgroups within MISMO.The organization said the aim of the alliance is to develop and publish government standards related to electronic mortgage transactions involving government entities within the MISMO framework. "By having future Ginnie Mae reporting and data formats in alignment with established industry standards, and providing Ginnie Mae with a robust forum in which to develop its formats and interface specifications, this is a 'win-win' for both the industry and Ginnie Mae," MISMO said. MISMO, which was established by the Mortgage Bankers Association, develops electronic commerce standards for the mortgage industry. The organization can be found online at http://www.mismo.org.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
March 28 -
Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
March 28 -
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.
March 28 -
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.
March 28 -
But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
March 28 -
Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
March 28