Mortgages

Roughly 16% of home loan borrowers likely have education debt, less than one-third of those may be distressed, Mr. Cooper executives told investors at a conference this week.

The one-percentage-point reduction will be funded in the direct-to-consumer channel . through a Rocket escrow account

A piece of legislation cleared the House this week that would allow for so-called "desktop appraisals" on properties financed by government-backed veteran loans.

The option can be efficient but companies have to figure out who will handle the additional property data collection, panelists at the Digital Mortgage Conference said.

The average accepted offer was one percentage point lower than the listing price, a Remax study found.

The class-action lawsuit was brought on behalf of mortgage borrowers who were allegedly placed into forbearance during the early days of the pandemic without their consent.

Some predict that by the middle of next year, the 30-year fixed could be priced 150 basis points lower.

Waivers boomed during the pandemic's refi wave and the recent automation of desktop appraisals have provided additional flexibilities, but their applications are limited in the current market.

The Department of Housing and Urban Development is investigating allegations that the real estate appraisal standards written by the Washington nonprofit perpetuate discrimination.

However, company executives said the treatment of mortgage servicing rights under the new rules going into effect late next year looks likely to lead to some consolidation.

Consumer use rates may be low in part because they prefer to stick to one method of submitting information needed to apply for a mortgage.

Both the 30- and 15-year averages are now more than 3 percentage points higher from their levels of one year ago.

Of the 50 counties most at risk, nine are in and around the Big Apple, six are in the Windy City's metropolitan area, and 13 are spread through California.

Firms can take advantage of powerful tools from big technology companies but must be wary when sharing large amounts of data or ideas, experts said.

Since signing those nonbanks in the second quarter, the program has added more than two dozen originators, including Gulf Coast Educators FCU.

Lenders — all of a sudden — are competing for homebuyers' business, a silver lining in what is becoming a more unaffordable housing market.

Rocket made waves in 2016 when it promoted its online streamlined application process during Super Bowl 50. This now takes the process to the other end.

Applications for these federal-backed loans headed upward after the Labor Day holiday but were offset by slowing conventional activity, sending overall volumes down for a fifth consecutive week, according to the Mortgage Bankers Association.

AI, ML, predictive analytics and complex algorithms can help lenders expand credit to more consumers, but some critics feel the technology can feed into existing discrimination and bias that applicants face.

All-in-one platforms aim to take multiple tasks out of the hands of borrowers but having a narrow focus and creating strategic technology partnerships are the stronger options.