Fitch revised its outlook for Provident Funding Associates to negative due to competition in the wholesale channel but upgraded its rating of UMM’s unsecured debt. MISMO is seeking comments on tech that would help obtain MI quotes.
Given the home price spike seen in the past 18 months, many distressed borrowers have enough equity to sell their homes rather than face foreclosure. Still, previous practices suggest that a notable share of borrowers with strong equity positions will go through foreclosure.
Mortgage bankers continue to search for new talent, particularly in the non-QM sector. However, the overall mortgage employment reading declined recently. An aberration or something else?
Local concentration of mortgage lending may not raise interest rates, but it does increase fees and points, especially for low-income and minority borrowers.
As part of its plan, HUD will collaborate with VA and USDA on ways to integrate climate-related financial risk into mortgage underwriting standards and loan terms.
Less than 30% of younger recent homebuyers report feeling that mortgage lenders are “trustworthy and reliable.” Millennials and Generation Z also are heavily reliant on the internet to fill gaps in financial education.
According to research conducted on behalf of the National Association of Realtors, 51% of non-homeowners with outstanding student loan debt said they have delayed buying a home because of that debt.
UWM accepted six mortgage payments with cryptocurrency before ending the pilot program; closing costs increased in the first half of 2021; Fannie strengthened underwriting standards for condos and co-ops.
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