Underwriting

Fannie Mae's tool, used by originators to determine income levels for self-employed borrowers, aims to help them avoid potential underwriting errors, the government-sponsored enterprise said.

The home purchase market right now is healthier than it was last year, said CEO Mat Ishbia, noting a 24% increase in volume over the recent period compared to Q1 2023.

Originators increased program offerings for the fifth consecutive month, but overall credit availability remains tight, the Mortgage Bankers Association said.

The 2022 vintage had a higher percentage of purchase mortgages, as well as 30-year fixed-rate loans versus the 2021 production, an annual Federal Housing Finance Agency report said.

The Biden Administration's title waiver pilot has started a broader discussion on whether the product is worth the money paid or even needed at all and can be replaced by an alternative.

Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.

The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.

Ohio-based Liberty Home Mortgage joins several companies who started using a more modernized FICO credit score for nonconforming mortgage originations recently.

Those who raced ahead of the pack of loan originators last year went the distance by offering exceptional customer service, catering to niche pockets of demand in the market.

A new Federal Reserve analysis finds rising debt-to-income and loan-to-value ratios over the past two years, while credit scores largely remained the same.

Unintended consequences of shifting the burden for title insurance to the lender could end up harming consumers, several observers said.

Mortgage lenders offered more cash-out refinance programs at a time when consumers might be coming to terms with the rate environment.

The appellate court decision allowing the Justice Department to reopen an investigation into the National Association of Realtors is likely to disrupt the Sitzer/Burnett settlement, Keefe, Bruyette & Woods said.

In a study posted weeks after it raised concerns about "junk fees," the Consumer Financial Protection Bureau noted that the amount of borrowers paying discount points doubled from 2021 to 2023, with the increase larger among consumers with lower credit scores.

The $12.1 billion-asset DCU launched the loan platform in 2022, and has seen volume jump by close to $600 million from when talks began in 2019 to last year.

Loan documentation deficiencies are a sign of sloppiness in mortgage lender practices, Aces Quality Management said.

Doma in nearly three years as a public company was never able to achieve profitability and had to scale back CEO Max Simkoff's vast ambitions.

In an interview, Candor Technology's Sara Knochel recounts how she applies her childhood interest in languages and numbers to crucial home lending issues.

The Community Home Lenders of America alleged one provider's employment verification service is charging fees it considers excessive in a letter to federal agencies.

ICE Mortgage Technology's new Encompass Mortgage Insurance Center also allows for seamless data transfers between systems.