Organization Root Tag

A deep understanding of the history of racial discrimination in both lending and technology is a prerequisite to the development of new technologies, panelists said.

The only rational strategy for holding MSRs is to be very aggressive on protecting the servicing assets via loan recapture. This is one of the chief reasons that banks have been willing to give up their share in lending and servicing as they collapse back to retail-only lending strategies.

U.S. homebuilder optimism rose to a record in September, with low mortgage rates driving a housing boom that has boosted the pandemic economy.

Mortgage applications decreased 2.5% from one week earlier as refinance activity appears to decelerating, according to the Mortgage Bankers Association.

Loan applications for new homes have staged a remarkable turnaround this year after falling 25% month-over-month and 12% year-to-year due to the coronavirus' impact in April.

The potential acquirers included a "go shop" provision as a sweetener in the rejected offer.

After being approved, retroactively denied and having a second application rejected, the firm is appealing the decision with federal regulators.

Any roadmaps for client service that existed before the pandemic have changed, according speakers at DigMo2020.

The government-sponsored enterprise’s seller/servicer guide is now integrated into the online portal. Freddie also improved the readability of loan-level reporting it provides, and has further changes in the works.

Quicken Loans president and COO, Bob Walters, provided the first keynote of the 2020 Digital Mortgage Conference and gave insight into how this year changed the industry.

The proposals offer lenders both cause for celebration and for concern.

After flattening over the three prior weeks, the number of loans going into coronavirus-related forbearance dove at a rate not seen since early August, according to the Mortgage Bankers Association.

Legislation favorable to the industry would be unlikely to pass in a divided Congress, but the biggest benefit for banks and credit unions of Republicans' retaining control of the chamber would be defending against the disruption of a Democratic blue wave.

The company's outgoing CFO discussed ways the asset cap is stunting growth, but provided no updates at an industry conference on when the restriction might be lifted or the types of jobs it will cut.

Median closing prices hit a new record high during the four-week period ended Sept. 6, Redfin said.

Many states currently have temporary work-from-home guidance for licensed mortgage professionals that extends through at least Dec. 31, but some have fall expiration dates.

Only 18% of refinance borrowers returned to the same lender in the second quarter, the second lowest rate since 2005.

Also the Federal Housing Administration, which is a key contributor of government-insured loans to Ginnie securitizations, recently set new conditions on mortgage applicants that have been in forbearance.

Plus: mortgage credit availability hits 6-year-low and Ellie Mae and ICE Mortgage change leadership

Even though second-quarter originations were nearly double the same period in 2019, most were refinancings, which generate less revenue for title companies.