Underwriting

The California Consumer Privacy Act is here, but many mortgage lenders still don't know what that means for them.

Mortgage refinancings made up slightly under one-third of MGIC Investment Corp.'s new insurance written during the fourth quarter, contributing a significant percentage of its business.

Now that the Consumer Financial Protection Bureau says it will scrap an unpopular standard for so-called qualified mortgages, the big question is what will take its place.

Default rates for prime jumbo mortgages will increase, but a strong economy and rising home prices will bail most borrowers and lenders out, Moody's said.

The prevention of wire fraud and cybercrime being perpetrated against the mortgage business is the latest passion for Regina Lowrie, longtime industry executive and the first woman to head up the Mortgage Bankers Association.

After maintaining a $250,000 exemption threshold for real estate appraisals for nearly 20 years, the National Credit Union Administration is set to raise that limit to $400,000.

Rooted in increased regulations and general customer backlash, there is a growing emphasis on collecting consent and ensuring privacy of customer data, especially following enactment of the California Consumer Privacy Act.

FICO plans to release a new suite of scores that could reduce defaults on newly originated mortgages by 17%, but home lenders may not use it unless the government-sponsored enterprises do.

Non-QM lending is expected to grow again in 2020, but it has some obstacles to navigate. Altisource CRO John Vella shares his insight into the sector and other hot topics.

Director Kathy Kraninger has told lawmakers that the agency will delay the expiration of the so-called QM patch, now set for January 2021.