Below contract appraisals in majority Black census tracts are much less likely to receive time adjustments than those in majority white tracts, according to new research from FHFA.
Lenders need specific plans for outreach to borrowers that are Black, indigenous and people of color, according to industry participants. Focusing on the borrowers can be difficult but will pay off, the industry participants added.
Citizens Bank left the wholesale channel amid weak margins; Mr. Cooper’s cyberattack recovery includes large expenses for borrower services; new leader at broker group; Consolidated Analytics acquires Real Info; customer relationship management tool with artificial intelligence for loan officers.
Several top buyers of bulk agency MSR in the fourth quarter also sold some servicing as they rebalanced their portfolios. Lakeview was the top buyer in both bulk and coissuance deals. (Includes three data tables.)
Delinquencies on loans in agency MBS increased across the board in the fourth quarter of 2023. The rate of performance deterioration quickened compared with trends earlier in the year. (Includes data table.)
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.