The rental income could account for up to 30% of the total income the loan applicant uses to qualify for an FHA mortgage.

William Lansing, CEO of Fair Isaac, said mortgage-originations revenue at the company in the third quarter of 2024 increased by 95% compared with the third quarter of 2023.

CHLA acknowledges that the shift at Ginnie will require additional funding for the agency.

Deliveries of refinances to the government-sponsored enterprises jumped from $9.37 billion in September to $15.59 billion in October.

The share of mortgages in forbearance increased from 0.34% as of the end of September to 0.47% at the end of October, according to the Mortgage Bankers Association.

Lock-in persists; eClosing found to provide pricing gains; home sales expected to increase; LOs shy away from AI; credit card offers rewards points for mortgage payments; steady profits for LendingTree from lead business.

Government mortgage insurance programs captured most of the primary MI gain in the third quarter.

Prior to the second quarter of 2024, lenders participating in the MBA survey posted losses, on average, for eight consecutive quarters.

“The economy is not sending any signals that we need to be in a hurry to lower rates,” said Federal Reserve Chair Jerome Powell.

CSBS is reminding MLOs of their yearly continuing education requirements in the midst of the annual renewal season.