FHFA’s home price index cools off; MBA’s outlook for interest rates unchanged; Treasury looking into AI use in financial services; trade groups request delay on implementation of overtime rule.
The mortgage giant itemizes the sources of the increased cost of loan origination, then pitches the technological tools embedded in its underwriting system as a potential remedy.
Speaking at the National Reverse Mortgage Lenders Association conference this week, Urban Institute’s Laurie Goodman called for “more permanent” steps to ease liquidity issues in the HECM market.
Fee cures caused by TILA-RESPA Integrated Disclosure violations are one cost-cutting area lenders should consider when looking to save money in today's low origination volume environment, according to a new whitepaper by ICE Mortgage Technologies.
Federal and state regulators looking to implement new data privacy standards should include exemptions for firms subject to Gramm-Leach-Bliley Act requirements, according to the Mortgage Bankers Association and other trade groups.
New downpayment assistance programs and tracking of rental payment history for underwriting purposes are among the suggestions put forward by two Urban Institute researchers.
Some 13.8% of the total number of applications for conventional-conforming mortgages submitted last year were denied, compared to 14.3% in 2022. Denials for refinances jumped. (Includes data table.)
The Federal Reserve, FHFA, large banks and the GSEs are all struggling to model the future impact of climate change, both on their specific businesses and on the broader economy.
Income and employment data verification provider Argyle believes verification waterfalls can help lenders save time and money during the loan origination process.
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