Underwriting

Pretax operating margins came in much narrower than what is projected for the three stand-alone underwriters.

The acquisition brings the credit report provider into the commercial and residential appraisal technology space.

The Fed’s decision to lower rates amid a pandemic proved serendipitous for home lenders who benefited from a refinance boom last year, but they may need to make adjustments in the coming months.

While it's no silver bullet, automation with careful monitoring and testing can help lenders eliminate racial bias toward potential borrowers, the developers say.

The company also acquired the maker of the ResWare title and escrow software.

Two reports reveal how borrowers prefer to engage with lenders, with younger customers preferring an efficient digital experience and most seeking some form of human interaction.

Economic instability during the quarter drove the increase in findings regarding income and employment, Aces Quality Management reported.

The affordable housing nonprofit's Equitable Path Forward initiative seeks to eliminate "the deep-rooted legacy of racism in housing."

The industry is now likely to top 2019's nearly $16 billion in premiums written.

The consumer bureau's revamp of criteria for "qualified mortgages," a special regulatory class of loans free from liability, emphasizes pricing instead of a borrower's debt-to-income ratio.

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

Clear HOI — an encrypted, cloud-based tool that automates homeowners insurance underwriting — is getting released to the broader market by Rocket Mortgage’s sister company Nexsys Technologies.

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 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.