Montana will become the latest state to codify the authorization for remote work for mortgage company employees, effective July 1.

FHA said the amount of rental income from the accessory dwelling unit used to determine income may not exceed 30% of the total income used to qualify the borrower.

Although the COVID-19 national emergency was terminated earlier this week, the trend of remote work among mortgage loan officers continues to grow.

Feedback from mystery shoppers posing as would-be borrowers could help mortgage lenders meaningfully improve customer experience, according to Stratmor Group.

FHA is taking comments through April 27 on a draft mortgagee letter meant to spur more affordable mortgage financing for properties with accessory dwelling units.

The government-sponsored enterprises initiated fewer forbearance plans for their borrowers in January than in December 2022, according to a new foreclosure prevention report from the Federal Housing Finance Agency.

UWM wants to hire 500 people in three months; First Federal Bank signs deal with BNC; and MISMO seeks members for new eHELOC working group.

Activity in the commercial MBS space will pick up again in the months ahead, said analysts.

The Mortgage Industry Standards Maintenance Organization is seeking public comment through June 12 on its new data governance and management implementation resource package.

Lenders should help borrowers buy down interest rates to help close the racial homeownership gap, experts said recently.