Underwriting

An analysis of Home Mortgage Disclosure Act data reveals that banks continue to trail nonbanks in volume and another reveals that despite some improvement, inequities in lending to minority groups persist.

The Purchase Applications Payment Index was 8.3% higher in February compared with January and 22% over the same month in 2021, the Mortgage Bankers Association found.

Dollar losses from business email compromise attacks, many of which target real estate transactions, grew to $2.4 billion last year from $1.8 billion in 2020, a Federal Bureau of Investigations report found.

But since every customer’s case is different, it is hard to quantify how large a boost borrowers might get by not having this information on file.

Production costs reached a high as secondary-market loan sale margins continued to decline.

The effect is likely to be felt in consumer debt burdens and application misrepresentations, industry leaders say.

As the rising rates shrink the number of potential customers, mortgage brokers are seeking these products in order to keep business up.

The mortgage payments fintech completed a $31 million Series C capital raise with Bain Capital Ventures and SignalFire as the lead investors.

These are the first partnerships the Encompass software creator has made with outside providers and more such integrations are expected, company leadership said.

However, all but one company did less business in the most recent period than during the third quarter, and new insurance written was down across the board compared with one year prior.