Losses on Mortgage Banking Narrow in Second Quarter August 18, 2023 Brandon Ivey Each mortgage originated in the second quarter of 2023 generated an average pre-tax net loss of $534, compared to a loss of $1,972 per loan in the first quarter, according to the MBA.Read More
Short Takes: Interest Rates Expected to Decline / Small Cuts to Staff / Home Prices in California Rebound / Fay Servicing Upgraded August 18, 2023 Brandon Ivey Industry economists project that interest rates on mortgages will peak during the third quarter...Read More
Cook County Loses Appeal of Lawsuit Against BofA August 17, 2023 Brandon Ivey According to the Supreme Court, damages for violations of the Fair Housing Act can't extend beyond the first step of the improper activity.Read More
Energy Efficiency Proposal a Concern for Lenders, Homebuilders August 17, 2023 Monica Hogan The Departments of Agriculture and Housing and Urban Development recently issued a proposal for new energy standards for new construction.Read More
Short Takes: PrimeLending Adds LOs / Servicer Using Blockchain / New Construction Share of Home Sales August 17, 2023 Brandon Ivey Not all lenders are cutting staff...Read More
PennyMac, UWM Lead on Primary MI Activity in 2Q August 16, 2023 John Bancroft PennyMac delivered $28.62 billion of mortgages with primary MI into agency MBS issued in the second quarter.Read More
Mortgage Demand Shifting Amid Elevated Interest Rates August 16, 2023 Brandon Ivey The strong economy looks like a mixed blessing for mortgage lenders.Read More
Mortgage Lenders Support CFPB Proposal on ATR for PACE Loans August 16, 2023 Namrata Bhatia There's disagreement between mortgage lenders and PACE lenders on the need for ATR standards.Read More
Short Takes: CFPB Plots Rule on Data Brokers / An AI Guarantee / Compliance Investment by Accounting Firm August 16, 2023 Brandon Ivey The CFPB plans to issue a proposed rule expanding requirements for data brokers in 2024.Read More
Ginnie Issuance Slows in July on FHA Activity August 15, 2023 Monica Hogan FHA securitization volume declined 5.2%, while issuance tied to VA loans inched up by 1.2% from June to July.Read More