Focusing on existing customer databases and adding referral partners, as well as an enhanced social media presence, are key for boosting originations, according to industry participants speaking at the MBA convention.
The proposed capital rule would not only push banks to rethink their mortgage activity, it would also concentrate a lot of lending power on Wall Street, according to panelists at the MBA’s annual convention.
While significantly fewer lenders have deployed AI technologies over the past five years, the share of lenders who are using the tech in a limited or trial basis has increased, a Fannie survey showed.
In the conventional-conforming sector, the securitization rate rose to 71.4% from 68.8% as Fannie Mae and Freddie Mac churned out new MBS faster than the market was making new loans.
A Kentucky court has issued a nationwide injunction, blocking the CFPB from enforcing its small-business lending data collection rule until the Supreme Court decides the bureau’s constitutionality issue.
Consumer groups have submitted a petition for rulemaking with the CFPB to prohibit the use of pre-dispute arbitration agreements in the financial products and services industry.
The bureau outlined the procedure lenders must undertake when informing consumers of adverse credit actions triggered by the use of algorithms and other predictive decision-making technologies.
Mortgage securitization rates remained at previous levels as new primary market production and MBS issuance grew at similar rates in the second quarter. (Includes data chart.)
Mortgage buybacks at banks increased slightly on a quarterly basis in the second quarter, though repurchase volume was down 30.4% on an annual basis in the first half of the year.