Government-sponsored enterprise business in the low- and middle-risk categories increased in the first quarter of 2022. The shifts in credit characteristics occurred as originations declined. (Includes two data charts.)
Home equity conversion mortgage originations increased dramatically for the second straight year with FHA endorsements totaling $23.80 billion in 2021, a 33.9% increase from the prior year. (Includes three data charts.)
Banks and thrifts reported a 10.6% sequential increase in the volume of mortgages they repurchased in the fourth quarter of 2021. But for the full year, buybacks trended down. (Includes data chart.)
Fannie Mae and Freddie Mac generally widened their credit windows in 2021, but they still preferred mortgages with low and medium loan-to-value ratios.
Private mortgage insurers lost market share in the agency purchase market during the last quarter of 2021, while FHA production shifted toward riskier business.
A California district court found Jawad Nesheiwat, the company’s COO, guilty of providing consumer credit information to student loan debt-relief companies to use in marketing their services.
A Maryland homeowner sought to file a class action against Bank of America for violating a state law requiring banks to pay interest on funds maintained in escrow accounts.