Ron Duff of Fiserv Lending Solutions and Nancee Gorenstein of Mortgage Guaranty Insurance Corp. have been re-elected chair and vice chair of the Governance Committee of the Mortgage Industry Standards Maintenance Organization.The organization said it plans to focus on standards advancement, greater outreach to the industry, and an increased number of MXCompliance certifications. The Governance Committee is elected from a cross-section of the real estate finance industry and provides oversight for MISMO's administration and policy development. The committee consists of representatives from 22 subscriber organizations that serve staggered two-year terms. MISMO is a not-for-profit subsidiary of the Mortgage Bankers Association that develops data transfer protocols for the residential and commercial real estate finance industry. It can be found online at http://www.mismo.org.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
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In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
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The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
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But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
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The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
April 18