Declining volumes at large sellers in the third quarter shifted market share to small shops. United Wholesale Mortgage remained the top GSE loan seller during the quarter. (Includes two data charts.)
The Department of Housing and Urban Development didn’t ensure lenders consistently followed temporary forbearance policy requirements or ensure that indemnification agreement data and related records were complete and accurate, according to the HUD Office of Inspector General.
Feedback from mystery shoppers posing as would-be borrowers could help mortgage lenders meaningfully improve customer experience, according to Stratmor Group.
Fee-for-service partnerships between mortgage lenders and housing counseling agencies could bring scale to the pre-purchase counseling services HCAs offer, according to industry experts.
Black Knight has suggested mortgage servicers use predictive modeling data or aerial photography to help determine how likely it is that one of their borrowers’ properties was damaged in a natural disaster.
Georgia Gov. Brian Kemp, R, recently signed legislation allowing mortgage lenders and brokers to employ people who were formerly convicted of felonies, but only for out-of-state positions with zero access to Georgia mortgage loans.
Industry participants discussed the challenges to homeownership growth among the U.S. Latino population during the National Association of Hispanic Real Estate Professionals’ annual conference this week.
As the refinance business slows, employers should be careful not to use the downturn as an excuse to cut back on compensation, hiring experts warn. Despite lower originations, LO recruiting remains a key focus.
Industry stakeholders want mortgage lenders, real estate agents and Congress to work with the Department of Veterans Affairs to enhance the VA home loan program.