The guidelines lay out the process lenders must develop for borrowers to request an appraisal reassessment when they believe a valuation was inaccurate or biased.
Freedom Mortgage more than doubled its production from the fourth quarter to the first. Mike Patterson, COO of the nonbank, said the growth was driven by attractive loan characteristics.
Housing Secretary Fudge resigns; IRS postpones controversial changes to IVES; regulators to alter Basel capital proposal; banking regulators waive appraisal requirements in Maui; feedback sought on bank call-report proposal.
Facing criticisms that borrowers would intentionally default to qualify for VA’s upcoming loan-modification program, the agency noted that nearly 90% of its home loan portfolio is at a 2.5% to 3% coupon.
UWM was the top originator of purchase loans for the first nine months of 2023, while Rocket held the lead in refinance lending. The FHA saw a rising share of purchase loans sold to the agencies in the third quarter. (Includes four data tables.)
Even as the geographic area of the FEMA-designated 100-year floodplain has expanded, the number of properties considered to be in the floodplain has declined.
Warehouse lender Texas Capital Bank claims it lost money after Ginnie Mae extinguished its interest in liens associated with the now-defunct Reverse Mortgage Funding.
Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
News Tailored to Your Needs
Get Focused Coverage
Inside Mortgage Finance's newsletters break the mortgage market down so you get the news and data you need most, whether it's total industry coverage or just the news related to securitization, regulation, profits or other specific topics.
RSS