Organization Root Tag

The problem in the sector boils down to a lack of portability of data, whether it’s digital or contained in documents, that can be trusted between parties, LoanLogics Chief Product Officer Dave Parker argues.

Mortgage rates remained at their lowest level ever this past week, even as 10-year Treasury yields stayed elevated compared to where they were in recent months.

But existing deals are likely to experience issues resulting from higher defaults, faster prepayment speeds.

Many have assumed the high court would rule that presidents can fire the Federal Housing Finance Agency director at will. But during oral arguments in a case challenging the agency’s structure, some justices suggested they could stop short of such a decision.

The average per-loan profit margin remains incredibly strong, but the share of senior executives expecting it to fall has risen markedly.

Mortgage application activity decreased 1.2% on a seasonally adjusted basis last week, but refinance volume picked up as interest rates reached a new survey low, according to the Mortgage Bankers Association.

The Consumer Financial Protection Bureau has taken a hands-off approach to servicers during the pandemic. But with forbearance plans set to expire and President-elect Biden likely to appoint new CFPB leadership, companies lacking aggressive plans to help borrowers could face tougher enforcement.

Fudge, who has served in the House since 2008, represents most of the majority-Black areas of Cleveland as well as part of Akron.

Whether Ginnie issuance increases in the future may depend in part on the extent to which the Biden administration wishes to tap the FHA to promote affordable housing and homeownership.

In November, more loan products were being offered both at the upper and lower ends of the market.

The three companies agreed to pay a total of $74 million in remediation.

The surge of COVID-19 cases slowed economic recovery and hampered improvements in the forbearance rate, according to the Mortgage Bankers Association.

Recent Black Knight numbers put the average retention rate at a record low for the post-crisis period that followed the Great Recession.

The complaint dates back to 2014 state regulator examinations when the Dallas company was known as Nationstar.

Plus: per-loan profits break a record and FHFA extends pandemic-related measures.

Adolfo Marzol came to the agency after a stint at HUD and a 30-year career in the mortgage industry. He will depart on Dec. 18.

Set alight by the Fed’s low interest rates and bond purchases, the mortgage industry is on fire.

Fannie hasn't completed any credit risk transfers to private investors since the second quarter. Some experts worry the decision — likely spurred by the company’s concerns about a recent capital regulation — could put the mortgage giant on unsteady footing.

The economic fallout from COVID-19 has highlighted systemic concerns about commercial real estate exposure, business debt and short-term wholesale funding, the Financial Stability Oversight Council said in an annual report.

About 23% of borrowers under 30 got such a loan in October.