The two major CU trade associations, the Credit Union National Association and the National Association of Federally Insured Credit Unions, and a number of other state-specific industry groups submitted letters in support of the proposal.
You’ve had a lights-out kind of year when your company can afford to advertise during the Super Bowl. So, take a bow Guaranteed Rate, Quicken (Rocket) and United Wholesale Mortgage...
The new QM standards are set to take effect March 1 with a mandatory compliance date of July 1. Between March 1 and July 1 lenders can use the QM patch or the new standards but after July 1, originators can only use the new standards.
If mortgage originations are operating in a typical three-year cycle, profits will likely fall this year, according to industry analysts. The wild card: how lenders react to continued demand for refis.
In 4Q20, the nonbank mortgage giant originated $69.41 billion of product, a 28.1% improvement from a red hot third quarter. Its servicing portfolio grew by 6.2% in that span to $426.75 billion.
For the first time, MISMO is charging a 75-cent-per-loan fee for mortgages registered electronically. The fee will help fund MISMO’s activities, with an emphasis on digital mortgages.