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Inside Mortgage Finance

March 2, 2023

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FHA Helps First-Timers in Struggle with Affordability

The FHA gained share in the first-time buyer market during the fourth quarter even though its average loan amounts were up slightly. Rising mortgage rates led to higher debt burdens across the market. (Includes four data charts.) Read More

SCOTUS Agrees to Hear CFPB Funding Case

The Supreme Court has agreed to take on the contentious issue of whether the CFPB’s funding is unconstitutional. Last year, the Fifth Circuit Court of Appeals held the bureau’s funding structure violated the Constitution’s appropriation clause and separation of powers doctrine. Read More

Few Signs of Improvements in Profitability for Lenders

Is the worst of the mortgage downturn over? Probably not but there appears to be some improvement. Now, if only interest rates would cooperate. Read More

Subservicing Growth? Slow Going for the Most Part

Subservicing vendors don’t seem to be adding to their contract base these days with a few isolated exceptions. A reflection of fewer new loans being created or something else? (Includes data chart.) Read More

CFPB Shuts Down Repeat Offender Majestic Home Loans

RMK Financial/Majestic Home Loans has been permanently banned from the mortgage business for violating terms of an earlier consent order in which the lender agreed to cease its deceptive advertising practices. Read More

Credit Score Model Change a Slow-Moving ‘Seismic Event’

It’s been four months since FHFA approved new credit scoring models for loans delivered to the GSEs. While the transition wasn’t going to be quick, industry participants are still waiting on a timeline. Read More

Roostify Acquired by CoreLogic

The data firm’s purchase of fintech Roostify takes place in the shadow of the controversial ICE/Black Knight merger attempt. Read More

Grapevine: More M&A Chatter; Top Embrace Executive Departs

More M&A talk is hitting the market. One possible buyer is Movement Mortgage, the nation’s 24th largest home lender. Meanwhile, Steve Adamo has parted ways with Embrace Home Loans. Read More

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As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

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