Denial Rates for FHA Loans Highest Among All Loan Types June 9, 2021 Lisa Burden Roughly 14.1% of borrowers who applied for an FHA-insured purchase loan were turned down last year, compared to 12.4% in 2019.Read More
Correspondent Channel Gains Jumbo Market Share in 1Q21 June 9, 2021 Brandon Ivey The renewed emphasis on the correspondent channel was widespread, with nearly every lender in the group increasing originations on a sequential basis.Read More
A Different Kind of M&A: Regions Strikes Deal to Buy HIL Firm June 8, 2021 Paul Muolo EnerBank — a subsidiary of CMS Energy — has funded $11.6 billion in home improvement projects since 2002 and currently boasts loan balances of $2.8 billion.Read More
Ginnie Mae Market Sags in May as Refinance Drops Sharply June 8, 2021 John Bancroft A slowdown in refinance activity was responsible for the May swoon.Read More
VA Issues Final COVID-19 Partial Claim Program Rule June 8, 2021 Maria Volkova The final rule, which has been in the making for months, looks drastically different than the proposal first announced in December.Read More
Credit Bureaus Deflect Blame for Surge in Consumer Complaints June 8, 2021 Lisa Burden Anxious consumers were checking their credit reports often during the pandemic, affecting the tally...Read More
CFPB Fines DriverLoan for Deceptive Deposit and Loan Products June 7, 2021 Lisa Burden The company and its CEO agreed to refund about $1 million in deposits to harmed consumers and pay $100,000 in civil penalties.Read More
Expanded-Credit Production Nearly Flat in 1Q21 June 7, 2021 Brandon Ivey In the first quarter of 2021, expanded-credit mortgages accounted for 0.7% of total first-lien production compared to 2.2% for all of 2019.Read More
Second Quarter Lending Shaping Up to Be Good, Not Great June 7, 2021 Paul Muolo The origination slowdown is finally here, but for now it's not so bad...Read More
Bank Selling $5.4 Billion of MSRs Through Phoenix Capital June 7, 2021 Paul Muolo The Fannie Mae/Freddie Mac portfolio is collateralized by 30- and 15-year product, with weighted average coupons of 3.19% and 2.80%...Read More