Rocket Mortgage was the top GSE seller in the direct channels in 23 states in the first six months of 2023. United Wholesale Mortgage was the leader in 12 states.

“FHFA is going to have to step in again, because it’s becoming a big issue,” said Mat Ishbia, president and CEO of United Wholesale Mortgage.

Expanding the Fair Credit Reporting Act’s dispute and accuracy requirements to a broadened definition of credit reporting agency could lead some industries to stop reporting or furnishing consumer credit data, according to Dan Smith, newly appointed president and CEO of the Consumer Data Industry Association.

Some of SnapDocs’ clients have embraced eClosings for 70% to 80% of their loans, while others have been slower on the uptake.

A reduction in interest rates wasn't enough to help increase mortgage applications last week.

Among a group of public mortgage companies income from servicing soared from $397.5 million in the first quarter to $1.87 billion in the second.

The Federal Reserve will announce its next decision on interest rates on Sept. 20.

Trade groups representing lenders noted that mortgage originators typically have no control over AVM providers and have no way to assess the goals, design or data inputs that go into the models.

The MBA expects that the Fed will hold interest rates level until spring.