Late last week, the Supreme Court of the United States delivered some long-sought clarity on the legitimacy of disparate-impact claims brought under the Fair Housing Act in the case of Texas Department of Housing and Community Affairs v. The Inclusive Communities Project, Inc. The highest court in the land validated the position of various lower courts, regulatory agencies and administrations over the last four decades that disparate impact is ...
When Fannie Mae recently announced that its automated underwriting system would be free for all seller-servicers, matching a move made by Freddie Mac, lenders everywhere rejoiced. But not the nation’s mortgage cooperatives, which stand to lose business because the advantage of their “buying power” (with Fannie and Freddie, at least) is now greatly reduced. “Co-ops basically lose their main benefit,” said Mat Ishbia, president and CEO of United Wholesale Mortgage ...
Bayview offers several products for near-miss agency borrowers as well as non-QMs with guidelines that are more forgiving than those offered by jumbo lenders.
Originations of adjustable-rate mortgages in the past seven years have been well below production seen before the financial crisis. While low interest rates have contributed to limiting originations of ARMs, industry analysts suggest that other factors will continue to constrain ARM production even when interest rates rise. An estimated $41.0 billion in ARMs were originated in the first quarter of 2015, down 10.0 percent from the previous quarter and off ...
Prior to the financial crisis and the government takeover of Fannie and Freddie, some seller-servicers had “strategic alliance” deals that allowed them to pay under 15 basis points in g-fees...
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