Lenders’ digitization efforts have helped improve consumer experience and reduce cycle time over the past two years, but have not been effective in bringing down costs, according to Fannie Mae.
Separate appraisals of the same homes showed disparities in customer service, valuation and the distance of comparator properties depending on the race of the homeowner present during the assessment.
MISMO is seeking feedback on a new application threshold decision model; mortgage industry consolidation continues apace; home price appreciation continues to ease.
Default rates on Fannie/Freddie loans continued to decline in the third quarter of 2022, while FHA-insured loans in Ginnie MBS pushed the overall Ginnie delinquency rate higher.
Over the past two years, Marlin Mortgage has made a name for itself as a buyer of conventional servicing rights. Now it is ready to pounce in the Ginnie market. A new proposed company acquisition may help.
While homeowners have record amounts of tappable equity, home-equity lenders face some challenges, navigating both a decline in home prices and rising interest rates.
The failure of nonbanks as a sector “could spark another crisis and tear at the fabric of the economy,” said Yu Shan, assistant professor of Finance at the Whitman School of Management at Syracuse University.
Structural inequities make it more difficult for Black households and other people of color to make on-time rental and utility payments compared to the average white household, the Urban Institute noted in a new report.
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