The rate of foreclosures is too small to play a meaningful role in boosting housing supply, according to panelists at a recent Urban Institute conference.
The Mortgage Bankers Association responded to a White House request for information on the prospects for harmonizing cybersecurity regulations. Separately, the New York Department of Financial Services finalized amendments to its cybersecurity regulation.
An increase in the number of borrowers with non-traditional income sources has led more lenders to consider automated and AI-based underwriting practices, according to Ocrolus, a tech vendor.
Guaranteed Rate-owned Owning says it can offer mortgage rates which are half a percentage point lower than competition by leveraging proprietary technology and specific underwriting criteria.
Buzz Roberts, president and CEO of the National Association of Affordable Housing Lenders, is optimistic that the proposed Neighborhood Homes Investment Act will move forward before he retires.
Outlook improves for large nonbanks; tech vendors take losses while increasing market share; rate locks decline; new verification offerings from CoreLogic; LOS provider and servicing tech vendor partner; MISMO seeks comments on engineering guidelines.
A focus on marketing language, downpayment assistance programs and technology are key to reach mortgage-ready borrowers, according to lenders speaking at the MBA’s annual convention.
Christopher Stanley, a security engineer at SpaceX, is the first member of Elon Musk’s Department of Government Efficiency to join a GSE board.
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