Mortgages

The regional bank made the deal as part of an effort to bolster liquidity following turmoil among its peers.

Some in the space say they've seen new players coming in but others disagreed during a panel at the Mortgage Bankers Association's Secondary and Capital Markets conference.

The company, funded by Calterra Capital and led by the former CEO of lender Avlis Partners, is launching the technology in a space that has limited vendor options.

Purchases of new single-family homes increased 4.1% to an annualized 683,000 pace last month from a downwardly revised 656,000 rate in March, government data showed Tuesday.

Some stakeholders have worried about the estimated date for the transition to a new way of calculating credit worthiness, but an official assured attendees at an industry conference that the agency won't act prematurely.

The Enterprise Regulatory Capital Framework is going to dramatically transform Fannie Mae and Freddie Mac pricing in ways the industry hasn't begun to contemplate, writes a former senior policy analyst at the FHFA.

Starting June 7, the enterprise's platform will be able to analyze pay stub information.

But the country is still likely heading towards a recession and it could be deeper than previously thought, Mortgage Bankers Association Chief Economist Mike Fratantoni said.

The company's recent expansion into commercial servicing is part of a broader effort to build a diversified business model, according to President and CEO Mike Dubeck.

The Mortgage Bankers Association sees the likelihood of a rise in sales activity later this year based on recent construction trends, in a turnaround from the 2022 market.

Artificial intelligence can help cut bias out of credit models. The Consumer Financial Protection Bureau should make it easier for lenders to adopt it.

The government-sponsored enterprise only tweaked the two-year mortgage origination forecast, with a $6 billion reduction for 2023, but an increase of $7 billion for 2024.

At least $83 million worth of loans were insured by the FHA without lenders following the necessary protocols, the department's inspector general claims.

Widespread efforts to save money couldn't entirely counteract the impact of continually rising commissions, compensation and other costs.

Jobs numbers, inflation data and the continued debate over raising the debt ceiling are factors applying upward pressure.

Contract closings decreased 3.4% last month to an annualized pace of 4.28 million, according to data released Thursday by the National Association of Realtors.

Excluding farms and residential properties, banks accounted for more than 60% of the $3.6 trillion in commercial real estate loans outstanding in the fourth quarter of 2022, with smaller institutions particularly exposed, according to the Federal Reserve's semi-annual Financial Stability Report published last week.

Despite the "wow" factor, programs like ChatGPT are not, by themselves, the right tool for anything in the home loan space, argues the Director of Research at FormFree and Associate Director of the Institute for Artificial Intelligence at The University of Georgia.

After dropping to a low of more than 40% last year, the recent rally in homebuilders represents a massive rebound from last June's slump and a testament to what appears to be a gradual recovery in home construction. 

Both Flagstar and Deephaven tout the practice of sharing their market expertise with the mortgage brokers and bankers doing business with them.