Low-income first-time homebuyers face higher closing costs than others receiving purchase mortgages, according to economists at Fannie Mae. The GSE is suggesting changes that could fix some of that.
An appraisal company failed to note that improvements to a refinanced property happened to encroach on neighboring land, but the lender, First Community Mortgage, couldn’t pin losses on the appraiser.
Start-up mortgage lender Beeline completes Series A funding; HouseCanary publishes report defending its AVM; DC attorney general introduces legislation aimed at the use of algorithms by companies in the housing sector; LoanLogics acquires LoanBeam.
The latest MBS from Blackstone includes non-agency mortgages for investment properties from various lenders. The firm’s pre-pandemic non-agency MBS were backed by loans from Finance of America.
The House passes legislation to help address legacy contracts for MBS and ABS tied to LIBOR; the SEC expands payment methods for various filing fees; transportation ABS is performing well despite supply chain issues.
A mortgage company’s best chance at being heard in policy matters is to target the same four themes the Biden administration is using to drive policy decisions.