Secondary markets

Plans rolled out by a United Wholesale Mortgage and by Fannie Mae and Freddie Mac could cut costs, but the American Land Title Association warns that the tradeoff is less protection from certain risks.

From new appraisal alternatives to the use of blockchain to protect HMDA data, speakers sought to ensure the regulator had a handle on innovations that touch the secondary mortgage markets.

The wholesale channel tool will speed up mortgage processing time by as much as 40%, the lender claims.

The move by the government bond insurer may pave the way for waivers of late fees, forbearance, modifications and foreclosure bans as the U.S. contends with damage from recent hurricanes.

While broader counterparty rules were recently reworked in consultation with the industry, questions persist regarding one subset from the government bond insurer.

The move follows two consecutive quarterly losses for the REIT and comes just days after its sister non-QM lending business laid off 20% of its staff.

The one established during the pandemic got little use because other government actions led to a refinancing boom, but a housing official fears the industry won't be so lucky next time.

A whistleblower complaint on a $250,000 retention award for a Fannie Mae senior executive prompted the investigation of the Federal Housing Finance Agency's procedures.

The mortgage company plans to buy some of this servicing and also invest in building out technology and default services, Chairman and CEO Jay Bray told attendees at an industry conference.

While the agency affirmed the bank's current high ratings, it also cited instances of noncompliance, which led to the downgrade.