High failure rates for lenders trying to implement new edits to certain fee disclosure requirements in Phase 3B of the Uniform Closing Database persuaded Fannie and Freddie to postpone those changes.
Kroll Bond Rating Agency looked at about 220,000 loans to more than 300,000 borrowers to assess the impact of going from tri-merge credit scoring to bi-merge.
Despite 15 months of balance sheet reduction, at the current pace, it will still take the Federal Reserve nearly four and a half years to bring its holdings of MBS and Treasuries down to pre-pandemic levels.
A new study shows that the shift from the tri-merge to a bi-merge credit report will have a minimal effect on the average borrower’s credit score, at least using Classic FICO.
Rocket Mortgage was the top GSE seller in the direct channels in 23 states in the first six months of 2023. United Wholesale Mortgage was the leader in 12 states.
Trade groups representing lenders noted that mortgage originators typically have no control over AVM providers and have no way to assess the goals, design or data inputs that go into the models.
Researchers found that banks with large municipal bond holdings divert their mortgage business to geographically distant areas in an effort to mitigate exposure to trends in home price appreciation.