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.

The Federal Housing Finance Agency is considering bringing back the idea of imposing stricter criteria for purchasing mortgages in areas where residential Property Assessed Clean Energy financing is available.

Mortgage lenders' uptake of innovations in artificial intelligence, big data and other technologies has been relatively slow. It's an approach that may not be tenable in 2020.

There was less credit available for the first time in four months in December, when lenders offered fewer conventional and government products, particularly Veterans Affairs-guaranteed loans, the Mortgage Bankers Association said.

ClosingCorp, a San Diego-based provider of closing cost data, has purchased the WESTvm mortgage loan order management technology from West, an affiliate of Williston Financial Group.

The FHFA’s attempt to move some of its balance sheet into the private sector could leave investors with greater liabilities than they were initially told.

The percentage of homes started last year and built within an association rose 2 percentage points to 63%, according to the National Association of Home Builders.

The critical defect rate for closed mortgage loans continued its decline in the second quarter, as lenders benefited from increased loan volume and profitability, an Aces Risk Management study found.

Mortgage lenders are increasingly introducing new loan programs outside of typical underwriting parameters in line with indicators suggesting that the availability of credit in the housing finance market is growing.

The availability of mortgage credit jumped in November from the previous month as jumbo activity and refinancing in the government market increased, according to the Mortgage Bankers Association.

The housing market has changed dramatically since 2002 but the current appraisal limit has not. It's time for NCUA to catch up.