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Inside Mortgage Finance

August 15, 2019

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2Q19 Yields Big Gains in All Products, But ECM Lagged

Jumbo lending increased by 67.2% from the first quarter of 2019 to the second, faster than any other product category. Expanded-credit lending had the slowest growth rate. Read More

Ocwen Loses Money Yet Again. Can it Survive Long-Term?

Ocwen Financial posted another losing quarter, with new challenges: De-clining interest rates and a massive amount of debt coming due. Read More

OCC May Block CRA Credit on Loans to the Wealthy

The OCC may limit banks’ ability to receive CRA credit for lending to higher-income borrowers living in low- and moderate-income areas. Read More

Final Rule on Credit Score Models

The FHFA issued a new rule that potentially paves the way for new competitors to the classic FICO model. VantageScore is happy but will other vendors jump into the credit scoring pool? Read More

Mortgage Delinquency Rates Up Slightly in Second Quarter

Overall loan performance weakened in the second quarter, but serious-delinquency rates declined slightly on a sequential basis. Read More

Guidance on IRRRLs Pending Final Rulemaking

VA has issued guidance on how statutory standards for loan seasoning, fee recoupment and net tangible benefits affect guarantees on IRRRLs. Read More

Convictions Overturned in Pre-Crisis Bank Fraud Case

An appeals court has overturned convictions in a fraud case involving mortgage units of two banks, noting that the charges levied were wrong. Read More

Zillow Slows LO Hiring Due to Mortgage Tech Issues

After acquiring a mortgage lender, Zillow planned to expand originations. However, issues with technology have slowed its hiring plans. Read More

Blend to Automate Asset, Income Verification for Freddie

The fintech firm has scored a contract to eliminate paper documents and PDFs from GSE loans. Read More

Mortgage Grapevine: Crimping the GSE Footprint? Maybe Not / New FHA Condo Rules Applauded

Will the FHFA trim cash-out refis by Fannie Mae and Freddie Mac? For now, all is quiet on the topic. In other news: HUD ushered in new regulatory changes for FHA condo financing, making it easier for borrowers and lenders.

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