The ailing Ditech Financial signaled in a new SEC filing that it will no longer file public reports on its quarterly and monthly results. The move comes days before bids are due on the franchise.
Overhauling Ginnie Mae’s budget process might resolve the problem of low staffing levels and heavy reliance on contractors to perform major tasks, such as servicing, compliance and oversight.
Increasing the threshold for requiring appraisals on real estate transactions will not result in a more efficient mortgage underwriting process, according to Collateral Analytics.
Mortgage applications surge in the days before the Fed meets to set interest rates, according to a study that looked at confidential data from HMDA. Applications fall by an even larger amount after the meetings.
A bird's-eye view suggests retail originations had higher credit scores and lower DTI ratios than loans produced by correspondents and brokers. But third-party originators generated lower-risk loans at the agency level.
Mortgages with low credit scores and higher loan-to-value ratios accounted for a larger share of Fannie/Freddie purchase business in the first quarter. But the industry is hardly in a race to the bottom despite slumping volume and tight margins.
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