Underwriting

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.

The regulator believes this transparency into the Uniform Appraisal Dataset records will help combat valuation bias.

However, Julia Gordon is now on the record saying that the agency is actively analyzing whether or not to do so, and it's considering the potential magnitude and composition of a reduction.

Approximately two years after Fannie Mae and Freddie Mac stopped accepting the troubled index, the government agency is looking to approve the Structured Overnight Financing Rate for adjustable rate mortgages.

The development, touted as an industry-first, is the latest move by the government-sponsored enterprises to expand housing opportunities for first-time and underserved homebuyers.

The Detroit-based lender said the program will "accelerate loan purchases" and "eliminate significant costs" for its partners

The introduction of utility, cable and telco payment information follows noticeable growth in the past year toward the inclusion of rental history in underwriting.

Loan officers say that the platform discourages them from originating loans.

The letter, sent under the banner of the Black Homeownership Coalition, is the second in two months sent by the trade group in its ongoing campaign.

And rising rates caused the government-sponsored enterprise to cut its forecast for this year.

Moon Mortgage plans to start originating owner-occupied mortgages that are partially collateralized by cryptocurrency in three states in December.