FDIC to Sell MBS Holdings of Failed Banks April 6, 2023 Brandon Ivey The FDIC plans to sell $114 billion of MBS held by Silicon Valley Bank and Signature Bank.Read More
GSEs Update Equitable Housing Finance Plans April 6, 2023 Dennis Hollier At the direction of the Federal Housing Finance Agency, Fannie and Freddie tweaked their efforts to address equity issues for minority homebuyers and renters.Read More
AI Shows Promise for Mortgage Industry April 6, 2023 Sam Manas ChatGPT and similar artificial intelligence offerings can be used to improve efficiencies at mortgage companies.Read More
FHFA Data Fueling Looks into Appraisal Bias April 6, 2023 Dennis Hollier The share of appraisals coming in below the contract price has increased in recent years, a potential sign of appraisal bias.Read More
Short Takes: Rate Locks Increase / Freddie Partnership Builds Credit Scores / California Even Less Affordable April 6, 2023 Brandon Ivey Bank failures helped to drive down interest rates on mortgages in March, which led to an increase in rate locks.Read More
Mortgage Sales by Banks Outpace Production April 5, 2023 Brandon Ivey Originations of mortgages that banks intend to sell decreased more quickly than loan sales by banks in the fourth quarter of 2022.Read More
FHA Proposes Some Relief for HECM Servicers April 5, 2023 Monica Hogan FHA is taking feedback through April 11 on a new draft mortgagee letter proposing policy changes to its home equity conversion mortgage program.Read More
Nice Pay Raises for the C-Suite at Mr. Cooper April 5, 2023 Paul Muolo Mr. Cooper, like many mortgage shops, has engaged in large-scale layoffs the past year to bring costs in line with revenues.Read More
Long Timeline for New Credit Score Models at GSEs April 5, 2023 Dennis Hollier New credit scoring models will be fully implemented by the GSEs near the end of 2025, according to FHFA.Read More
Short Takes: Applications Decline / loanDepot and Hsieh Work it Out / Plenty of Equity April 5, 2023 Brandon Ivey Lower interest rates weren't enough to keep loan applications increasing.Read More