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
Income from Originations, Servicing Drops in Fourth Quarter April 4, 2023 John Bancroft Both originations and servicing were a lot less profitable in the fourth quarter of 2022.Read More
CFPB Clarifies ‘Abusiveness’ Conduct Standard April 4, 2023 Sam Manas The policy statement provides some details on how the CFPB defines "abusiveness."Read More
Dimon Critical of Mortgage Regulations for Banks April 4, 2023 Brandon Ivey Chase is "hanging on" and hoping for change in the mortgage market, according to Jamie Dimon.Read More
Suggestion for FHLBanks: Fund Nonbanks Indirectly April 4, 2023 Dennis Hollier The Federal Home Loan Banks could help support nonbank mortgage companies by funding the warehouse lenders that fund nonbanks.Read More
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