A mortgage application in which both members are male is 8.9% less likely to be approved than if the co-applicants were of different sexes, according to new research.
The imposition of a fair-access requirement in the guidance could turn out to be a controversial issue. The Department of Financial Services has not determined an implementation deadline, though.
While originations are expected to increase this year, margins might not improve much; First American back online following cyberattack; MSR demand expected to remain strong; held-to-maturity accounting lives on; new digital servicing platform; new buydown program.
Banks and thrifts sold $97.37 billion of mortgages during the quarter. Trends varied among the largest banks, with Chase increasing loan sales while U.S. Bank and Wells Fargo sharply reduced their activity. (Includes two data tables.)
Repurchase and indemnification activity at banks and thrifts in the third quarter was the lowest since at least the second quarter of 2016. (Includes data table.)
Mortgage industry executives and policymakers should rethink strategies to improve sustainable homeownership among first-time homebuyers, according to speakers at a recent housing conference.
The GSEs and FHA should publish daily rate sheets with disclosures on interest rates for mortgages locked the previous day, according to analysts at the Urban Institute. The analysts likened their proposal to the manufacturer’s suggested retail price seen for cars and books.