MBA punts on recession forecast; interest rates on mortgages expected to decline; Flagstar merger dragging on; homeowners want mortgage financing for energy improvements.
Maintaining contact with potential borrowers through Truebill could lower the lender’s cost to acquire consumers, according to Rocket Mortgage CEO Jay Farner.
Foreclosure starts increased in February; SEC to revamp cybersecurity reporting for public companies; Tradepost acquires GSF Mortgage as part of an expansion of Go Companies; Milo raises $17 million; MISMO to develop standards for eVaults.
Financial technology lender SoFi is set to acquire a bank; United Wholesale Mortgage will cover appraisal costs on purchase mortgages through the end of March; mortgage tech companies raise capital; CoreLogic offers new fraud-detection service; low-code marketplace launched.
Lenders and servicers don’t see much use in blockchain technology for now; Mat Ishbia abruptly terminated a stock offering involving United Wholesale Mortgage; federal banking regulators set computer-security disclosure requirements; nCino to acquire SimpleNexus.
Local concentration of mortgage lending may not raise interest rates, but it does increase fees and points, especially for low-income and minority borrowers.
It was thought that higher capital requirements proposed on Ginnie Mae issuers would ding valuations of the MSR asset. But so far, that hasn’t happened. Credit: strong demand and declining forbearance ratios.