Underwriting

While qualifying got a little tougher for entry-level buyers with lower incomes in November, some other prospective borrowers had an easier time of it.

This group of homeowners has greater financial obligations than any generation before them and largely aren’t aware of how they can make use of their home as an asset, a survey from Hometap found.

Borrowers who make at least a 10.01% down payment will not be required to obtain this form of credit enhancement, as these loans are not being sold to Fannie or Freddie.

The deal between the two fintechs aims to cut mortgage decisioning times for lenders and expand access to financing for consumers.

Even though one aspect of these lending standards is becoming more flexible, some say they still don’t always meet the needs of borrowers like delivery workers employed on a contract basis.

But overall, customers are less satisfied with their origination experience compared with the 2020 survey, according to J.D. Power.

However, it remains 30% tighter than pre-pandemic levels, according to the Mortgage Bankers Association.

Values are predicted to increase by just a fraction of the rate they had in 2020, CoreLogic said.

The financial services technology provider will leverage multiple data sources to verify borrower salaries at a “flip of a switch.”

Gain on sale has dipped 130 basis points per loan since the third quarter last year, but over the same period, per loan expense is up by $1,216.

The higher dollar amounts could be a way for companies to drive volume at a time when rates are increasing.

The real estate franchisor will retain its full ownership in the title agency, escrow and settlement services business.

Other providers like DocMagic and SimpleNexus offer similar services to originators who have yet to adopt the technology in substantial numbers.

Both third-party lenders will purchase conforming loans with balances of $625,000 — 14% higher than the current limit — in anticipation of regulators' action.

The filing by Tamara Richards also accused the founder and other execs of encouraging a "frat house" environment that mistreated women.

The move generally gets a thumbs up from industry participants, but what can happen in the long-term is uncertain.

The companies talk through their products aimed at making the processes safer and more inclusive for consumers.

The underwriter also agreed to assist in the New York Attorney General's investigation of no-poach agreements in the title industry.

The company will roll out the program it has been piloting, Appraisal Direct, nationwide on Oct. 1.

But refinance volume was constrained in recent weeks and many of the new offerings are aimed at low income borrowers, the Mortgage Bankers Association said.