MBA: Next Move by Fed Will Be a Rate Cut November 2, 2023 Brandon Ivey The Fed held rates steady Wednesday and the MBA anticipates that the next action will be a cut in 2024.Read More
Industry Participants Ramp Up Training on Appraisal Bias November 2, 2023 Sam Manas The GSEs are collaborating to create appraisal bias training for the appraiser community.Read More
Change Resolves CDFI Status Issues November 2, 2023 James Dohnert Change Lending has come to an agreement-in-principle with the CDFI Fund to regain its CDFI good-standing status.Read More
Short Takes: Zillow Boosts Originations / Figure Offers HELOC Tech / Sterling Bank and Trust Turns to Rocket / CHLA Seeks Streamlined Exams by States November 2, 2023 Brandon Ivey Zillow's production increased 35% from the second quarter.Read More
Rising Expenses, Loss in Court Cut Into GSE Profits November 2, 2023 Dennis Hollier Lower benefits for credit losses and an adverse decision in court undercut slight increases in revenues for Fannie Mae and Freddie Mac.Read More
Mortgage-Banking Income at Banks Increases November 1, 2023 John Bancroft Among a group of 26 banks, mortgage banking income increased by 9.9% in the third quarter.Read More
Freddie Mac Treads Water in the Third Quarter November 1, 2023 Dennis Hollier Freddie's quarterly profits took a (presumably) one-time hit from expenses accrued due to the Fairholme v. FHFA decision in August.Read More
MBA Cautions Against FSOC Designations for Nonbank Mortgage Companies November 1, 2023 Brandon Ivey FSOC plans to set new standards for applying a “systemically important financial institution” designation to nonbank financial companies.Read More
CFPB Proposal on Open Banking Excludes Mortgage Companies November 1, 2023 Sam Manas With the CFPB's open banking proposal, consumers would be able to connect checking, credit card, digital wallet and prepaid accounts to third-party institutions in order to access different products and services.Read More
Short Takes: ARM Share Increasing / loanDepot Offers Second Lien for FHA Mortgages / Redwood Returns Quickly With Jumbo MBS / HUD Selling HECMs November 1, 2023 Brandon Ivey ARMs accounted for 10.7% of mortgage applications last week.Read More