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Short Takes: Rocket Speeds Loan Process With AI / AI Officer at FHFA / Pretium Affiliate Wins NPL Auction / CMBS Investor Changes Hands

April 9, 2024
Brandon Ivey
Rocket plans to offer its AI platform to other companies later this year.
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Lenders Advised on Code Words, Ransoms

April 3, 2024
Shannon Clark
Given that scammers are using artificial intelligence to mimic voices of trusted sources, Violet Sullivan, assistant vice president at Crum & Forster Insurance, recommended mortgage companies require the source to provide a code word or phrase during verbal confirmation of a transaction.
Read More

Short Takes: Altisource Shifts From Mortgages to EV Tech / Applications Down Slightly / Farmer Mac Sees Strong Demand / HUD’s Vacant Lot Sale

April 3, 2024
Brandon Ivey
Altisource Asset Management is working on a control system that increases the efficiency of electric vehicles.
Read More

Short Takes: FHFA to Improve Exam Practices / Better Taps Real Estate Agents / Doma Plans to Go Private / Pending Home Sales Up Slightly

March 29, 2024
Brandon Ivey
FHFA is working on internal guidance to improve its exams of nonbank mortgage companies.
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Short Takes: DOL Fine for Emotional Damages / UWM’s Margins Expected to Improve / Growth in Mortgage Payments Outpaces Applicants’ Earnings / Trees Saved From Digital Closings

March 28, 2024
Brandon Ivey
The fine levied by the Department of Labor for emotional damages followed a whistleblower complaint involving PrimeLending.
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Short Takes: Fed Plans to Slow Balance Sheet Runoff / FHFA to Host AI-Focused TechSprint / Home Improvement Securitization / Downgrade of Old Subprime MBS

March 21, 2024
Brandon Ivey
The Fed plans to reduce the speed of the runoff of Treasuries and MBS from its balance sheet "fairly soon," according to Fed Chair Jerome Powell.
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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.
Read More

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.
Read More
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