Lenders’ digitization efforts have helped improve consumer experience and reduce cycle time over the past two years, but have not been effective in bringing down costs, according to Fannie Mae.
MISMO is seeking feedback on a new application threshold decision model; mortgage industry consolidation continues apace; home price appreciation continues to ease.
The rating service said both technicals and fundamentals in the mortgage market appear more resilient to stress than in previous crises, while highlighting some vintage differences.
Default rates on Fannie/Freddie loans continued to decline in the third quarter of 2022, while FHA-insured loans in Ginnie MBS pushed the overall Ginnie delinquency rate higher.