The imposition of a fair-access requirement in the guidance could turn out to be a controversial issue. The Department of Financial Services has not determined an implementation deadline, though.

Clever Real Estate has acquired Gravy Technologies, which provides a loyalty-as-a-service platform for lenders and real estate agents.

While originations are expected to increase this year, margins might not improve much; First American back online following cyberattack; MSR demand expected to remain strong; held-to-maturity accounting lives on; new digital servicing platform; new buydown program.

Banks and thrifts sold $97.37 billion of mortgages during the quarter. Trends varied among the largest banks, with Chase increasing loan sales while U.S. Bank and Wells Fargo sharply reduced their activity. (Includes two data tables.)

In general, appraisers can adjust down a comparable valuation dollar for dollar with the value of seller concessions.

The GSEs and FHA should publish daily rate sheets with disclosures on interest rates for mortgages locked the previous day, according to analysts at the Urban Institute. The analysts likened their proposal to the manufacturer’s suggested retail price seen for cars and books.

Consumers are feeling little optimism for the 2024 housing market as affordability concerns continue to push would-be buyers away from purchasing a home next year.

Amendments to the Uniform Commercial Code are making it easier to electronically originate home equity lines of credit.

Lower interest rates have been particularly impactful in the market for new homes; MBA projects a mild recession in the first half of 2024; new MISMO working group initiated by the GSEs; technology for closing disclosure forms.

Should lenders retain servicing duties or let a subservicer handle those responsibilities? Subservicers suggest they’re the best option.