Underwriting

Higher inflation and mortgage rates led to the increased likelihood that conforming loans originated in the three months ended Sept. 30 would go 180 or more days delinquent, Milliman found.

A potential borrower should have a credit decision in the "matter of one minute," the lender said.

However, a tiered pricing system will limit an inflation-driven increase to under 10% for a small group of originators.

The change, effective Dec. 21, is being put into place two years after it was first proposed.

A Fannie Mae survey says 36% get only one quote, while a separate Zillow study found 72% don't plan to look for options.

The 15-year fixed-rate mortgage saw an average rise of 6 basis points that was higher than the overall gain, according to a retrospective report issued Wednesday.

Recent changes to the loan level price adjustments should bring business to private mortgage insurers, but if the government agency acts as expected, it would shift the other way, according to a report from BTIG.

The gain of 3 percentage points in 2022 reinforced industry calls for the agency's mortgage insurance premium to be slashed when the current fiscal year federal budgeting process is completed.

A combination of fewer mortgage originations and investment losses for some companies contributed to declines.

The drop was led by a large decline in cash-out refinancing volume, Black Knight said.

Choices of which homes are used for comparisons play a major role in disparate home valuations for Black and white homeowners, according to studies recently released by the National Community Reinvestment Coalition and academic researchers.

The non-qualified mortgage lender lost $13 million in the quarter, a slight improvement over the previous period.

But its tight lead indicates that originators are struggling to differentiate themselves from the competition J.D. Power's Craig Martin said.

The six active underwriters wrote 14% less business compared with the second quarter and 30% from one year prior.

The company is reporting both higher origination volume and net earnings on a quarter-to-quarter basis.

These associations contribute some relatively affordable housing to a pricey market, but key mortgage stakeholders have tightened criteria in the wake of a building collapse that highlighted the sector's particular risks.

The company, which evolved into a refinance-focused call center after a disastrous move into reverse mortgages, reportedly informed employees of the closure on Oct. 14.

Problems with the closing protection letter are the predominant cause of those errors, a FundingShield report determined.

In the first two quarters of the year, the channel's lenders lost an average of 35 basis points for each origination.

The New York-based startup, which launched last year, processes $3 billion in annualized rent payments, and its Bilt Mastercard customers are spending at an annualized rate of $1.6 billion, Chief Executive Officer Ankur Jain said.