Mortgages

Lenders and vendors are starting to realize that there are both areas in which artificial intelligence can be used more broadly, and areas in which technology’s role should be limited.

A deep understanding of the history of racial discrimination in both lending and technology is a prerequisite to the development of new technologies, panelists said.

The only rational strategy for holding MSRs is to be very aggressive on protecting the servicing assets via loan recapture. This is one of the chief reasons that banks have been willing to give up their share in lending and servicing as they collapse back to retail-only lending strategies.

U.S. homebuilder optimism rose to a record in September, with low mortgage rates driving a housing boom that has boosted the pandemic economy.

Mortgage applications decreased 2.5% from one week earlier as refinance activity appears to decelerating, according to the Mortgage Bankers Association.

The deal brings yet another mortgage origination component under the same roof.

Loan applications for new homes have staged a remarkable turnaround this year after falling 25% month-over-month and 12% year-to-year due to the coronavirus' impact in April.

The number of homes sold in metro Baton Rouge, La., was 11.2% higher in August than the year before, continuing a hot streak triggered by low interest rates.

Electronic notes did come in handy this year given the mortgage industry's need to operate remotely, but they also increase the government-sponsored enterprises' responsibility for monitoring the risk of multiple counterparties.

The potential acquirers included a "go shop" provision as a sweetener in the rejected offer.

The North Texas housing market continued to thumb its nose at the pandemic in August, with home sales up 11% from a year ago.

The Harrisburg, Pa., area real estate market has come a long way since it was shut down completely by Gov. Tom Wolf due to COVID-19 back in March and reopened slowly in April and May.

Any roadmaps for client service that existed before the pandemic have changed, according speakers at DigMo2020.

The government-sponsored enterprise’s seller/servicer guide is now integrated into the online portal. Freddie also improved the readability of loan-level reporting it provides, and has further changes in the works.

Quicken Loans president and COO, Bob Walters, provided the first keynote of the 2020 Digital Mortgage Conference and gave insight into how this year changed the industry.

The proposals offer lenders both cause for celebration and for concern.

After flattening over the three prior weeks, the number of loans going into coronavirus-related forbearance dove at a rate not seen since early August, according to the Mortgage Bankers Association.

Listing prices in California have risen 34% since January as inventory shriveled amid the pandemic.

Median closing prices hit a new record high during the four-week period ended Sept. 6, Redfin said.