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Equifax Reports Credit Score SNAFU

June 3, 2022
Dennis Hollier
Coding errors may require new underwriting for loans that relied on data originating with the massive credit score reporting firm.
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AMI Increases Going Into Effect Next Week

June 3, 2022
Dennis Hollier
Higher AMIs in most counties mean more borrowers are eligible for the GSEs’ affordable housing programs.
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Another Freddie Executive Headed for the Exit

June 3, 2022
Dennis Hollier
In an SEC filing, the mortgage giant announced that it has entered into a “mutual non-disparagement agreement” with Donna Corley, departing head of single-family.
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Promotions for Two Freddie Multifamily Executives

June 3, 2022
Dennis Hollier
Freddie taps multifamily veterans Corey Aber and Erlita Shively for new vice president positions.
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Freddie Automates Key Underwriting Criteria

June 3, 2022
Dennis Hollier
Freddie’s asset and income modeler, which became available nationwide this week, will short-circuit the 10-day verification of employment process for borrowers who opt in.
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FHFA Corrects Rule Affecting FHLB Affordable Housing Programs

June 3, 2022
Dennis Hollier
Regulator corrects “inadvertent omissions” in the text of the Community Support Requirements regulation.
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Fannie Updates Construction Loan Guidelines

June 3, 2022
Dennis Hollier
The GSE eases rules on construction loans.
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Compared to Last Year, Mortgage Employment Down by 7,000; Mr. Cooper the Latest to Cut Heads

June 3, 2022
Paul Muolo
Mr. Cooper foretold of layoffs in a recent SEC filing...
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MBS Issuance Lowest Since July 2019

June 3, 2022
John Bancroft
An ominous sign: Agency issuance over the first five months of 2022 totaled $921.38 million, down 44.0% from the same period last year.
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Servicing Much More Profitable Than Lending in First Quarter

June 3, 2022
Brandon Ivey
The rapid increase in interest rates seen in the first quarter took a big bite out of income from production and helped to goose servicing earnings. And while a downturn in originations was expected this year, it could be worse than expected.
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