The eMortgage Workgroup of the Mortgage Industry Standards Maintenance Organization has unanimously passed a motion to develop implementation guidance for creating electronically signed PDF documents using the Adobe PDF 1.6 specification.The announcement is a follow-up to MISMO's May 3 statement on e-mortgage activities as they relate to the possible formal adoption of the Adobe PDF format. A motion to include data mapping guidance as well as e-signature guidelines was voted down. A MISMO spokesman told MortgageWire that the motion was defeated because if it had passed, classic PDF would be a competitor to the category-one SMART Doc, and historically MISMO has never endorsed proprietary technology as part of its open standards. MISMO deferred judgment on Intelligent PDF until Adobe posts a worldwide patent license letter on the product. MISMO can be found on the Web at http://www.mismo.org.
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Higher costs than expected, not just for the mortgage but for repairs and more, have recent buyers' regretting their purchase, Clever RE and Redfin found in separate reports.
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New guidelines regarding buy-side and sell-side real estate agent compensation are set to go into effect this summer.
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Affordability challenges also have some aspiring homeowners taking second jobs or looking to draw from retirement savings, according to Redfin.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
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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.
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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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