Jody Shenn, a senior analyst at Moody’s Investors Service, said, “ARRC’s recommendations and Fannie Mae’s and Freddie Mac’s ability to guide standards are signs that mostly uniform approaches will be used in mortgage originations.”
On Fannie Mae and Freddie Mac loans, originators are permitted to use ADU to underwrite loans based on employment-related retirement assets or “certain other assets of applicants who are near retirement,” the OCC noted.
Acting Ginnie Mae President Maren Kasper: “The RFI enables the agency to incorporate the views of a wide variety of stakeholders as we continue to refine the model, implement policy and evaluate potential risk to the U.S. housing finance system.”
According to new figures released by Black Knight, mortgage prepayments declined by 7.5% in June despite mortgage rates being under the 4.0% threshold. The data analytics firm said it was the first decline in prepays in five months. Go figure…
Lending Tree is not an originator as such, but acts as a middleman between originators and funders. Its menu includes not only residential mortgages but auto and business loans, credit cards and student debt.
Although it was a relatively strong quarter for the company, the depository disclosed a $30 million “partial” charge tied to the failure of Live Well Financial, a Richmond, VA-based reverse mortgage lender that closed its doors in early May.
Equifax, while agreeing to the settlement, denied the charges in a recent filing with the Securities and Exchange Commission: “The company’s participation in the consumer settlement does not constitute an admission by the company of any fault or liability, and the company does not admit fault or liability," the vendors said.
This is the third deal from WAMCO this year, following a $945.5 million transaction in May and a $285.6 million bond in February. The company brought out only one deal last year.
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