The enhanced guidelines include qualifying mortgages originated through affordable lending programs, loans for manufactured homes, home improvement and renovation financing, and lender-funded affordable housing assistance programs.
An analysis of earnings reports from 18 lenders showed combined income from production and secondary marketing declined from the first quarter. Servicing income also decreased. (Includes data tables.)
CloseClear.ai’s platform monitors mortgage pipelines against live federal disaster data to flag GSE repurchase risk after an appraisal has been completed.
Pennymac and Rocket are focused on developing scale and technology to drive down costs as originations are expected to remain muted due to the higher-for-longer interest rate environment.