Underwriting

Intercontinental Exchange is leveraging the recent acquisition of Black Knight in new business partnerships announced at its annual mortgage conference.

A trio of Republican Congressmen stated they will investigate how the program got fast-tracked by the Biden Administration.

Fannie Mae's latest forecast now predicts rates to be half a percentage point higher, and volume to be $1.5 trillion lower than previously expected in 2024.

Gen Z and millennials are more willing to take a higher mortgage rate in order to buy a home than Gen X and baby boomers, the ServiceLink report found.

Doma leadership said it has the technology and underwriting capabilities to allow the government-sponsored enterprises to handle the risk refi loans eligible for title waivers under a pilot announced by President Biden last week.

The American Land Title Association, which represents the title insurance industry, argued that the program would not cut costs for those who really needed it.

While some said the agency was ignorant of its own rules, one trade group praised the goals of the posting.

Regulatory reform – rather than Biden's proposed solutions – is needed to fix the inventory crisis, some say, but others applauded the president's buyer cost-cutting initiatives.

The momentum created in the fourth quarter is continuing during the first months of this year and is likely to continue throughout 2024, according to Dv01's Vadim Verkhoglyad.

The move follows Freddie Mac's expanded use of bank account data and brings to full fruition an effort both enterprises have been engaged in since 2017.

The title proposal is part of a broader housing cost reduction proposal being discussed in the State of the Union speech.

February was the second consecutive month where lenders eased underwriting, although overall availability remains near record low levels, the Mortgage Bankers Association.

Argyle, which helps lenders verify income and employment data, completed a $30 million funding round led by a Rockefeller Capital Management innovation fund, bringing its funding since the firm's formation to more than $100 million.

Cardinal Financial's utilization of the FICO alternative credit metric could help pave the way for broader use as Fannie Mae and Freddie Mac move to adopt it.

Gate House Compliance is working with experts like Michael Waldron and Paul Hancock to provide services like fair lending and servicing assessments.

One depository has now joined two nonbanks in publicly announcing they're using the advanced score ahead of planned broader implementation by the agency market.

January volume increased 36% compared to the month before and the annual decline in activity was the lowest in almost two years, Optimal Blue said.

Institutions obtaining financing from the FHLB that's secured by their mortgages can now use the advanced score to underwrite collateral loans.

A look at Home Mortgage Disclosure Act data of similarly situated conforming applicants also finds some lenders' own comments for the rejection doesn't match up with the reason given, the Federal Reserve Bank of Minneapolis said.

The company, and Rocket, had been targets of United Wholesale Mortgage's All-In campaign, which punished independent brokers who did business with the UWM rivals.