Artificial intelligence and machine learning technology are currently being used by 26 percent of lenders surveyed by Fannie Mae. The government-sponsored enterprise also found that the share of lenders using such technology could hit 60 percent within two years.

Stephanie Miller of Fannie Mae said the GSEs are working with SIFMA on the transition to the single security.

The SVP/national production manager slot is a new position at Flagstar…

Despite the good news, DBRS said if the economic environment becomes more distressed, some non-QM borrowers may come under pressure…

Meanwhile, the largest potential deals looming over the market continue to be Ditech Financial and loanDepot…

Analyst Henry Coffey: “It is worth noting, given expected home price appreciation, that a flat mortgage market should translate into a 4 percent or greater decline in actual mortgage unit count.”

A handful of lenders offer one-month bank statement programs…

With originations expected to fall, lenders of all different stripes are carefully examining their staffing needs…

Deephaven Mortgage’s recent adoption of an automated system to pre-qualify expanded-credit borrowers has prompted some speculation about whether fully automated underwriting systems could be used for originations of non-qualified mortgages. A number of expanded-credit lenders at the ABS East conference suggested that some automated underwriting is possible, but some aspects of the non-QM underwriting process will likely need human intervention. The conference was ...

Quicken Loans recently made a number of adjustments to its underwriting standards for jumbo mortgages, including allowing for lower downpayment requirements and increasing amounts available for cash-out refinances. For certain jumbos, Quicken will now allow downpayments as low as 10.0 percent with no mortgage insurance required. To qualify, the loan amount must be less than $1.0 million and a borrower must generally have a credit score of at least 760 and a debt-to-income ratio ...