Although some non-agency players may see Freddie’s plan to purchase closed-end seconds as competition, many lenders see a way to create more liquidity in the sector.
Will allowing lenders to omit one of the three credit scores from the underwriting process reduce costs for borrowers or ensure that some unqualified borrowers inadvertently get a loan they can’t afford?
FHFA and HUD have teamed up to initiate a formal request for reconsideration of value for borrowers and sellers who believe their appraised value is undocumented or biased.
In an effort to reduce closing costs for low-income and first-time homebuyers, Freddie will now allow lenders to replace title insurance with attorney opinion letters in all but one state.
Agency securitizations of correspondent loans were sharply down in the first quarter of 2024 as volume dropped across the board. Refinances made a surprising surge, while credit quality remained unchanged. (Includes two data tables.)
Philadelphia-based Republic Bank focused its mortgage production on jumbos with below-market rates. The bank also held agency MBS that lost value as interest rates increased.