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Short Takes: Forbearance Steady / ICE Facilitates Reconsiderations of Value / New Loan Limits for Manufactured Housing / Figure’s Lender Breaks From Figure’s Tech Company

March 19, 2024
Brandon Ivey
Some 0.22% of mortgage borrowers were in forbearance as of the end of February.
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Losses at Blend Narrow in Fourth Quarter

March 15, 2024
Brandon Ivey
Blend took a loss of $179.9 million for the full year 2023 after a loss of $763.8 million the previous year.
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Short Takes: Waiting for Details on FHFA Pilot / UWM to Cover Costs of Hard Credit Pulls for Brokers / No Questions on Cyberattack / New Listings of Homes Increase

March 14, 2024
Brandon Ivey
Industry participants are waiting on further details from the FHFA regarding a pilot to waive title insurance requirements.
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Hurdles for Participation in CFPB Disclosure Pilot

March 5, 2024
Shannon Clark
A trial disclosure program launched in November for construction loans doesn't have any approved participants.
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Short Takes: Recapture Tip / Home Prices Overvalued / MSR Values Improve / AI Help on Guidelines

March 4, 2024
Brandon Ivey
Servicers retained only about 20% of borrowers that refinanced their mortgages during the fourth quarter of 2023.
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Short Takes: Cyber Attack to Cost loanDepot at Least $12 Million / Mortgage Applications Decline / Home Prices Up in December / Sales of New Homes Increase / Pretium Sells a Stake

February 28, 2024
Brandon Ivey
Insurance won't fully cover loanDepot's expenses from a cyberattack that occurred in January.
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Rocket Reports Losses for 4Q, 2023

February 23, 2024
James Dohnert
Rocket Companies reported a net income loss of $232.6 million in the fourth quarter of 2023.
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Short Takes: Ardley Launches Automatic Underwriting Product / SEC Report Cites Rating Agency Problems / Franklin Templeton Predicts Four Rate Cuts in 2024 / Home Price Appreciation May Have Peaked

February 20, 2024
James Dohnert
A new SEC report says research analysts "inadvertently" sent email with confidential pending rating action information to people outside the rating agency.
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Short Takes: Government Servicing Effort at MISMO / Housing Activity Slows / How Do Escrows Work? / Ratings for RTL Securitization / Publishing Break

February 16, 2024
Brandon Ivey
FHA, VA, Ginnie Mae and USDA are working with MISMO on a new servicing dataset.
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Congress Ponders Risks From AI in Housing Market

February 15, 2024
Monica Hogan
Congress must examine AI carefully, to determine “whether AI is extending and reinforcing biases, and how it has the potential to correct them,” according to Sen. Tina Smith, D-MN.
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