Many potential first-time homebuyers want lenders to offer both an online loan application process and in-person services. Borrowers are looking for speed, convenience and customer service.
As most residential stakeholders know, nonbank risk is an issue that has caught the eye of the Federal Housing Finance Agency and the Department of Housing and Urban Development because nonbanks are major counterparties to Fannie Mae, Freddie Mac as well as Ginnie Mae.
Kristy Fercho of Flagstar said the bank is comfortable with the CFPB’s plans, noting the transition to a new measure for QM status should be “pretty easy to manage.”
Average credit scores, DTI ratios and LTV ratios haven’t loosened much in the past two years as expanded-credit MBS issuance soared. The investment-property share of MBS issuance is also on the rise. (Includes three data charts.)