While interest rate hikes are deflating originations, lenders aren’t budging much on underwriting standards for purchase mortgages, based on an analysis of mortgages delivered to the GSEs in the third quarter. (Includes two data charts.)
Among purchase mortgages with primary mortgage insurance, GSE volume declined in the third quarter while FHA and VA volume increased. California also lost its spot as the top source of loans with MI. (Includes two data charts.)
Actions are speaking louder than words as mortgage industry-sponsored political action committees make contributions in the runup to the mid-term election.
In an insurance claim dispute resulting from Guaranteed Rate’s settlement with the DOJ involving the False Claims Act, a court said Ace American Insurance Company has to pay the lender for the cost of the settlement.
The new Congress that will be sworn in next January should concentrate on housing affordability, says Ron Terwilliger, chair of the J. Ronald Terwilliger Center for Housing Policy.
Amid declining volumes, the largest and smallest lenders who sell to the GSEs lost market share while large and mid-sized lenders got a bigger piece of the pie. (Includes two data charts.)
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