Underwriting

The title proposal is part of a broader housing cost reduction proposal being discussed in the State of the Union speech.

February was the second consecutive month where lenders eased underwriting, although overall availability remains near record low levels, the Mortgage Bankers Association.

Argyle, which helps lenders verify income and employment data, completed a $30 million funding round led by a Rockefeller Capital Management innovation fund, bringing its funding since the firm's formation to more than $100 million.

Cardinal Financial's utilization of the FICO alternative credit metric could help pave the way for broader use as Fannie Mae and Freddie Mac move to adopt it.

Gate House Compliance is working with experts like Michael Waldron and Paul Hancock to provide services like fair lending and servicing assessments.

One depository has now joined two nonbanks in publicly announcing they're using the advanced score ahead of planned broader implementation by the agency market.

January volume increased 36% compared to the month before and the annual decline in activity was the lowest in almost two years, Optimal Blue said.

Institutions obtaining financing from the FHLB that's secured by their mortgages can now use the advanced score to underwrite collateral loans.

A look at Home Mortgage Disclosure Act data of similarly situated conforming applicants also finds some lenders' own comments for the rejection doesn't match up with the reason given, the Federal Reserve Bank of Minneapolis said.

The company, and Rocket, had been targets of United Wholesale Mortgage's All-In campaign, which punished independent brokers who did business with the UWM rivals.

In the wake of the Surfside condo collapse, Freddie Mac and Fannie Mae instituted stricter rules regarding the soundness of this crucial form of housing stock as it ages. In response to complaints about a lack of clarity on buildings deemed unfit for financing, the GSE unveiled plans to improve transparency for both homeowners associations and lenders. 

At the same time, the Hilltop Holdings unit expects its gain-on-sale margins to remain pressured in the coming year.

Industry consolidation has resulted in fewer conventional and government loan programs being offered to consumers.

Over one-quarter of consumers said they are open to making misstatements to get a house, while 60% gave an answer besides absolutely not when asked if they would follow advice to put in misleading information.

Those who establish a history of paying for housing may be able to buy and live in property with rental income, but there are risks to the emerging strategy.

The title company was also attacked in 2019 and joins Fidelity National and Mr. Cooper among recent victims.

The effects of expected lower mortgage interest rates are boosting a lot of different facets of the housing market.

Loans for new homes are up 22% while overall purchase volume is down 20%, the Mortgage Bankers Association found.

The companies failed to warn borrowers on newly originated loans regarding the consequences of missing payments, both potential class action lawsuits filed by Rogge Dunn claim.

Decreasing availability of jumbo and non-QM products accounted for most of November's pullback, as other types of loan offerings saw minimal changes, the Mortgage Bankers Association said.