Under the proposed rule, the new definition of a manufactured home would allow upper floor sections to be transported and constructed without a permanent chassis.

Redwood's new MBS is stocked with bank statement and debt service coverage ratio loans.

Home prices are down in some areas, but inflation is more than offsetting any relief for homebuyers.

The automated AI trade included a $3 million to-be-announced deal that went to a competitive auction across all dealers, and two $500,000 trades that were routed to dealers selected by Pike Creek Mortgage.

VantageScore’s CEO said he doesn’t think FICO’s trended data score will be operational with the GSEs anytime soon.

Two Harbors seeks cash-only offer from UWM; Capital One executive nominated for director of CFPB; SPS settles servicing issues with California; First Federal selling third-party origination business to Mortgage Forward; Sunflower Bank and OceanFirst sell multifamily assets.

Silvio Tavares, president and CEO of VantageScore, downplayed concerns that some originators would use both classic FICO scores and VantageScore 4.0 in the underwriting process and pick the better of the two scores to qualify a borrower.

Locks for purchase mortgages declined by 5.1% on a monthly basis in May and rate-term refi locks fell 33.6%.

“Regardless of who wins the bid, the consequences of this is market-disrupting for anyone who does not have the capital to build up servicing and/or the technology leadership to take advantage of it,” said Rick Roque, a consultant with Menlo Company.

UWM has until Friday to engage in discussions with the Two Harbors board of directors on a revised acquisition bid.