It’s not easy making a living originating loans these days, especially for third-party lenders. The latest firm to exit TPO: Rushmore.

The standards-setting organization made tweaks large and small to its model, to smooth out workflow issues between transaction parties, and to allow companies to build new products.

Under the proposal from Urban Institute authors, mortgage servicers would be required to call borrowers within three months to offer refinancing once a payment reduction is triggered.

Stakeholders talk about the challenges in sharing MISMO datasets between different parts of the industry.

Mortgage applications increased, affordability improved and defects are down; lenders expand outreach to Hispanic borrowers; Amrock offers cell phone e-close option; Rocket program temporarily reduces interest rates; study on flood risk disclosures; automated fraud detection.

Loan sales to Fannie Mae, Freddie Mac and Ginnie Mae plummeted further in the second quarter as desperate lenders tried to boost volume by easing credit quality standards. (Includes one data chart.)

Although the nation’s job numbers look exceeding bright, all is not well with the mortgage industry where the job shedding machine is working overtime.

MCT and Freddie Mac experts discussed the strategies of managing MSR assets. While some firms are interested in the best financial deal they can get, others are focused on retaining clients.

Inflationary pressures and limited housing supply are making it difficult for millennial and Gen Z renters to afford first-time homeownership.

Home prices depreciated in July; foreclosure starts near pre-pandemic levels in August; mortgage rate locks continued downward trend in August; applications for mortgages on second homes fall to pre-pandemic levels; Experian allowing renters to boost their credit scores.