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.

Many publicly traded mortgage companies remained profitable in the second quarter, though earnings were down sharply. (Includes data chart.)

Rising interest rates increased the fair value of banks’ MSRs in the second quarter but servicing for others was essentially flat. (Includes data chart.)

The Southfield, MI-based bank expects fixed-cost savings of roughly $3 million a year from using MortgagePath for originations and the vendor will be responsible for compliance issues.