Underwriting

Changing or eliminating the exemption to the qualified mortgage rule could harm consumers and put smaller lenders at a disadvantage to the big banks.

Roostify is working with Level Access — a software provider enabling disabled people access to technology — to offer Americans with Disabilities Act compliant websites and mobile applications.

Consumer mortgage originator satisfaction scores fell in the second quarter as lenders had to work through the increase in application activity, a J.D. Power report said.

The percentage of recent mortgage borrowers with subprime credit scores still resides in the single digits, but nearly doubled what is was in 2013, according to TransUnion.

Mortgage credit availability increased in October from the previous month, as mortgage lenders increased their product offerings outside the government market, according to the Mortgage Bankers Association.

Fannie Mae and Freddie Mac’s exemption from the Qualified Mortgage rule is on borrowed time, but a House bill would allow lenders to use the mortgage giants’ guidelines for documenting borrower income.

VantageScore totaled 12.3 billion scores across consumer credit loan categories over a 12-month period between 2018 and 2019 with minimal mortgage volume, leaving potential for a major ramp up.

Loan origination system provider Ellie Mae has agreed to purchase mortgage technology firm Capsilon, citing the growing appeal of artificial intelligence-driven automation and interest in becoming more active as an acquirer.

PointPredictive has rolled out IncomePASS, which uses machine learning technology to determine if the borrower's income as stated on the application is realistic.

GameStop's plan to shutter up to 200 stores could adversely affect commercial mortgage-backed securities loans with a combined allocated property balance of almost $42 million, according to Morningstar Credit Ratings.

Mortgage lenders prefer to invest in improvements to their consumer-facing technology because it offers a better return than similar spending on back-end processes, according to Fannie Mae.

The end of the qualified mortgage patch should further accelerate non-QM origination growth, but is the mortgage industry ready?

September's increase in mortgage credit availability was driven by the expansion of jumbo products to record levels, which overcame a retrenchment in both conforming and government programs, the Mortgage Bankers Association said.

Fannie Mae is cracking down on homebuyer education requirements, particularly for first-time homebuyers and purchasers utilizing high loan-to-value mortgages.

The commercial mortgage-backed securities sector will weather the fourth quarter's slowing but steady growth in the U.S. economy, as better loan performance counters a continued decline in volume, Morningstar said.

Freddie Mac is increasing the number of companies offering merged reports from the credit bureaus through integrations with its Loan Product Advisor automated underwriting system.

Freddie Mac's efforts to improve underwriting could include the use of a technology firm's artificial intelligence-driven consumer-risk modeling software that can expand access to credit, according to the Wall Street Journal.

The recent run of lower interest rates may bode well for today's commercial mortgage-backed securities, unless it's undermined by an increase in leverage, according to Fitch Ratings.

The number of mortgage holders with refinancing potential dropped by 1.5 million as the average long-term rate for home loans continued to rise, according to Black Knight.

Commercial real estate transaction volume rebounded in the second quarter from a poor first three months of 2019, although property price growth plateaued, according to Ten-X Commercial.