“Fannie and Freddie have made tremendous strides to provide clarity in the system and create innovations,” said Peter Carroll, executive vice president for mortgage policy and counter party relations at Quicken Loans.
Some 32 percent of first-time homebuyers said that referrals from friends, family or co-workers had a major influence on their choice of lender, compared with only 18 percent of repeat homebuyers.
Broker originations delivered to the GSEs increased by 16.0 percent in the first quarter of 2015 compared with the previous quarter, the biggest gain among the three production channels.
As a new day of mortgage disclosure practices nears, courtesy of the integrated disclosure rule from the Consumer Financial Protection Bureau, a strong supporter of eClosings and eMortgages – Fannie Mae – is extending the concept. The government-sponsored enterprise is working on eWarehouse lending in conjunction with eNotes. First, the borrower executes the eNote on a digital closing platform. “The closing system applies a tamper-evident seal to the eNote,” Fannie said ...
Repurchase requests on new production are few and far between, according to the government-sponsored enterprises. Fannie Mae and Freddie Mac both recently issued reviews of their quality control processes, noting that lenders have plenty of tools to help ensure loan quality and avoid buybacks. Carlos Perez, a senior vice president and chief credit officer for single-family business at Fannie, said that as of the end of 2014, 0.33 percent of the single-family ...
RSS