The presale report notes income on 47.5% of the loans was verified using “alternative methods,” which means personal or business bank statements.

To date, much of the revival in the new “subprime” mortgage market (non-QM) has been driven exclusively by nonbanks, but that’s beginning to change...

How much do mortgage CEOs at private firms earn each year? We’ve been asking around of late and the answers we received offer a wide range... 

To ensure lenders are not adversely impacted by the outage, FHA will make adjustments to response due dates.

Which top-10 home lender had the largest sequential gain in 2Q19? Quicken? UWM? Guess again. It was Freedom Mortgage with 81.9%.

Altisource is headed by William Shepro, who was paid $6.1 million last year. Over the past three years, the CEO took home $15.2 million in total compensation, which includes salary, bonuses, stock and options.

Across the board, lenders are reporting stellar origination growth from the first to second quarters of the year, but the last two application surveys from the Mortgage Bankers Association showed weekly declines of 1.9% and 1.1%, respectively…

Jody Shenn, a senior analyst at Moody’s Investors Service, said, “ARRC’s recommendations and Fannie Mae’s and Freddie Mac’s ability to guide standards are signs that mostly uniform approaches will be used in mortgage originations.”

On Fannie Mae and Freddie Mac loans, originators are permitted to use ADU to underwrite loans based on employment-related retirement assets or “certain other assets of applicants who are near retirement,” the OCC noted.

Acting Ginnie Mae President Maren Kasper: “The RFI enables the agency to incorporate the views of a wide variety of stakeholders as we continue to refine the model, implement policy and evaluate potential risk to the U.S. housing finance system.”