Underwriting

Industry organizations indicated they want to be ready to analyze an advanced credit metric in early 3Q in line with FHFA plans, but they see some roadblocks.

The engine, rebranded as ICE PPE, was considered not as robust as the Optimal Blue product it was forced to sell in the Black Knight deal.

Coming off of what was considered a weak start to the spring season, mortgage applications for newly built homes rose 22% over the prior year, the Mortgage Bankers Association said.

Home lenders are taking a hard look at fulfillment compensation due to persistent profitability strains while keeping in mind growing compliance considerations.

For the first time since the Federal Reserve started raising short-term rates two years ago, the number of home purchase mortgages locked rose on an annual basis, Optimal Blue found.

A good compensation package is a key recruitment and retention tool, but the agreements have to be sustainable to be successful.

The publicly traded title holding companies all had stronger earnings as the mortgage market improved from one year prior.

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.