Alternatives to traditional appraisals are attracting increasing interest among U.S. mortgage market participants, which would potentially weaken the credit quality of new residential MBS, according to rating service analysts.
A few years back, Pinto and AEI unveiled a new mortgage product called the Wealth Building Home Loan, which was intended to provide an affordable mortgage option for low- and middle-income borrowers.
Technology-based, or “fintech,” lenders are revolutionizing the mortgage-lending process with new, innovative ways of doing business, far from the more traditional methods of delivering loan products and financial services, according to a new study by the Federal Reserve Bank of New York. The study, “The Role of Technology in Mortgage Lending,” describes fintech lenders as “lenders that offer an application process that can be completed entirely online.” Fintech lenders have grown ...
Acting Ginnie Mae President Michael Bright: “If they don’t have money to make principal and interest payments to investors every 20th day of the month, then Ginnie MBS are in trouble.”