Mortgages

The bill was one of three filed on Thursday aimed at reforming the two government-sponsored enterprises, all of them from Representative Scott Fitzgerald, a Wisconsin Republican. 

DSCR loans once allowed coverage ratios as low as 0.65, but 2023-24 vintage stress is pushing lenders toward stricter underwriting and interest-only structures.

Median purchase loan payments hit $2,198 in May, up 2.1% from April, as rising rates and home prices threaten to dampen origination volume, MBA reports.

Experts aren't forecasting immediate relief and instead are citing silver linings in rate certainty and greater mortgage demand as compared to the same time last year.

Almost 75% of brokers reported growing non-QM volume in their business over the last three years, and just 3.7% said volume decreased, according to AD Mortgage.

There's broad support for the effort to reduce costs and processes, but the Appraisal Institute warns about reducing property valuation quality control checks.

Fannie Mae's conservator is supporting the government-sponsored enterprise's test within certain boundaries, according to a recent social media post.

Delayed development pipelines and tradeoffs plague projects as builders look towards creative financing strategies to cope.

Purchases of new single-family homes decreased by 7.3% to an annual rate of 580,000 last month, according to government figures published Wednesday.

The notice of proposed rulemaking promotes manufactured housing loans backed by personal property while advising the rollback of requirements in other areas.

Five years after the Champlain Towers South collapse, while overall condo sales have held steady, the Miami market has had an 8 percentage point drop in share.

Low immigration and fertility rates paired with aging boomers could weaken the foundation of housing demand over the next decade, the MBA finds.

Affected team members were offered severance, and some have received opportunities to remain with the company, a Pennymac spokesperson said.

The change aims to address hurdles in the onboarding process, which many have cited as a point of friction in mortgage servicing.

The latest postponement comes after a UWM filing states that Two Harbors shareholders are rejecting the deal, with 54% voting no as of June 12.

Freedom alleged the executive, who was at the company for nine months, used proprietary data to build his own product he expected to net more than $1 million.

Despite high rates and the "locked-in" effect, many Gen Z and millennial homeowners want to bring down their monthly mortgage payments

The proposal is $10 billion of general obligation bonds for affordable housing and $1.25 billion of revenue bonds for the state's veterans home loan program.

Ralo uses artificial intelligence to automate the entire process, saving consumers money by cutting out commissioned loan officers, processors and underwriters.

Part of the proposal affects the risk weighting for certain "investment properties and other cashflow-dependent" mortgages, according to a new Pennymac report.