Acra, Angel Oak Seeing Positive Developments in Non-QM April 20, 2023 Paul Muolo Interest rate trends and industry consolidation are tailwinds for big players in the non-QM market.Read More
Remote Work for MLOs Extends Beyond Pandemic April 20, 2023 Monica Hogan Montana will become the latest state to codify the authorization for remote work for mortgage company employees, effective July 1.Read More
Short Takes: UWM Working to Reduce Trigger Leads / Chase Brings Jumbo MBS / PIMCO Stocks Older Non-QMs in MBS April 20, 2023 Brandon Ivey Brokers working with UWM can now decide when they want to pull the hard credit report...Read More
A Decline in Home Lending for US Bank, Applications Spike April 19, 2023 Paul Muolo At March 31, USB’s “servicing for others” portfolio totaled $241.7 billion and had an asset value of 154 basis points.Read More
Originations Steady at Western Alliance in First Quarter April 19, 2023 Brandon Ivey Western Alliance Bank's profits declined in the first quarter after asset sales similar to those that brought down Silicon Valley Bank.Read More
Short Takes: Applications Decline / Foreclosures Tick Up / LendingOne to Expand Wholesale April 19, 2023 Brandon Ivey Mortgage demand declines as interest rates increase...Read More
Mortgage Complaints to CFPB Up Sharply in Early 2023 April 18, 2023 Andras Malatinszky Complaints submitted to the CFPB regarding mortgages had declined steadily throughout 2022.Read More
First Lien Lending Off 25% at BofA, HE Production Flat April 18, 2023 Paul Muolo Bank of America uses just one channel to produce loans, retail.Read More
Lenders Can’t Use AI Blindly, Advocates Warn April 18, 2023 Sam Manas Since the passage of the Equal Credit Opportunity Act and the Fair Housing Act, financial services providers have tried to “achieve fairness through blindness,” according to Kareem Saleh, CEO of disparity-analysis firm FairPlay.Read More
Short Takes: Home Prices Inch Up / Origination Pipelines Constrained / Few Loans in Forbearance / New CRT from Freddie April 18, 2023 Brandon Ivey Home prices increased by 1.0% on a sequential basis in the first quarter of 2023.Read More