The Federal Home Loan Bank of San Francisco becomes the first FHLBank to allow members to use mortgage loans based on VantageScore 4.0 as collateral for advances.
As many as 88,000 individual tax identification number mortgages could be originated in a year if certain market barriers were removed, according to Urban Institute researchers.
Flagstar’s warehouse business was left unscathed by the recent loss at its parent, NYCB. However, it doesn’t take much to make a nonbank feel queasy when the unexpected happens at one of its financiers.
The Mortgage Bankers Association took Treasury Secretary Janet Yellen’s remarks as an opportunity to reiterate industry concerns about the Basel III endgame proposal.
San Diego-based Guild Mortgage said it’s buying origination assets from one of Utah’s largest lenders. Given the recent jump in interest rates, some believe the “roll-up” of shops is just getting started.
A mini-price war from UWM and it’s not even March. As one warehouse veteran put it: “It’s a little like the old Rockefeller tactic of pricing out the competition. It seems to work, but at a cost.”
Banking regulators appear to be taking criticism of their capital requirements proposal to heart. The impact the proposal would have on the mortgage market remains a major issue.
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