Underwriting

The move follows a report last year that the government-sponsored enterprise was looking into working with the provider of artificial intelligence-driven credit-risk models.

Lenders also increased jumbo product availability as well as rolling out new SOFR-indexed ARMs.

If enacted, the rule will bring the agency into compliance with the GSEs and the Biggert-Waters Flood Insurance Reform Act.

Plans for a first-time homebuyer tax credit and expanded affordable housing opportunities may be attractive to lenders, but they’re wary of increased regulation.

Problems with self-service tools and inconsistent communication have damaged consumer perception of their lender, J.D. Power said.

For most of the underwriters it was a strong quarter, but concerns remain over government-sponsored enterprise reform and potential claims after forbearances end.

Compared with the second quarter, the title insurer had 154,000 more orders opened and earned $89 per residential file.

The ballot measure, which would allow local jurisdictions to expand rent control, had concerned mortgage companies who worried the law would result in a patchwork of different policies that could complicate underwriting and discourage lending.

The price for the commercial valuation and budgeting technology company was not disclosed.

The technology rolled out by the Department of Housing and Urban Development aims to provide lenders with immediate and expanded responses related to Federal Housing Administration insurance eligibility.