Correspondent acquisitions at Pennymac tumbled from $22.3 billion in the second quarter to $10.5 billion in the first two months of the third quarter.

A recent rise in self-employed individuals is helping drive increased demand for non-QM products such as bank statement loans, according to lenders who recently spoke with Inside Nonconforming Markets.

Figure will be the first U.S. company to use of Sierra’s newly-established Horizon platform, which enables businesses to build agents that can work on complex tasks over longer periods of time.

The retail channel accounted for 53.7% of originations in the second quarter.

FHA plans to begin accepting VantageScore 4.0 and FICO 10T credit scoring models on Jan. 1.

The trade group seeks industry comment on a plan to centralize data on the loans collateralizing both agency mortgage-backed securities and non-agency MBS.

“Next week’s [Fed] meeting will be key, as the inflation and economic outlook will help shape the path of rates and homebuyer demand,” said Bob Broeksmit, president and CEO of the Mortgage Bankers Association.

CrossCountry Mortgage and Rocket Mortgage raised the loan limit they'll accept for conforming mortgages by 1.5% ahead of an anticipated increase in conforming loan limits in the new year.

Fannie Mae and Freddie Mac are essentially subtracting 20 points from a VS4 score, then applying the Classic FICO LLPAs to the loan.

"The last two weeks of August were among the worst we have seen for housing in years," said Kaz Nejatian, CEO of Opendoor.