Scott Turner, nominee for secretary of the Department of Housing and Urban Development, told senators during his confirmation hearing that Congress holds the purse strings.
While electronic closings offer faster turn times, adoption of the technology comes with some complications. Still, the share of eNotes is expected to triple by 2028.
Recently divorced or widowed homeowners told the CFPB that mortgage servicers sometimes say they must refinance, even when they should be able assume the existing mortgage.
FCC warns scammers are successfully impersonating mortgage companies; Rocket begins first phase of rebrand; household growth expected to slow; MBA expands college program; Lower acquires technology vendor; MTC increases transparency on MSR valuations; Voxtur Analytics considering a sale; automated loan mod offering.
The jump in refinance business, and a shift from cash-out to rate-term transactions, changed the credit-risk profile for Fannie and Freddie in the fourth quarter.
Commercial banks and savings institutions reported another decline in the volume of mortgages they repurchased in the third quarter of 2024. PNC Bank accounted for the largest chunk of the bank industry’s repurchases, at 11.3%.
The quality control team at Fannie Mae identified “red flags” that could indicate borrowers have mischaracterized whether they’re seeking a mortgage for a primary residence or for a second home or investment property.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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