Maintenance Risk a Major Factor in New GSE Condo Rules July 10, 2023 Dennis Hollier Fannie and Freddie will not buy condo loans in projects with unfunded repairs in excess of $10,000 per unit.Read More
Correspondent Channel Share Grows in FHA/VA Market July 7, 2023 Monica Hogan The correspondent channel captured 49.1% of originations in the first quarter, up from a 47.3% share in the previous quarter.Read More
Higher Interest Rates Squeezing Younger Potential Borrowers July 7, 2023 Dennis Hollier When interest rates on mortgages rise, young and middle-income consumers fall away from the mortgage market, according to a working paper from FHFA.Read More
Short Takes: Interest Rates Up / Borrowers Adjusting / Ginnie Adds RHS to LMI Disclosures July 7, 2023 Brandon Ivey Interest rates on mortgages reached their highest level of the year (thus far).Read More
Jumbo Denial Rates Steady as Originations Decline July 6, 2023 James Dohnert The denial rate on applications for jumbo mortgages was 11.9% in 2022.Read More
Diversified Nonbanks Weathering Volatility July 6, 2023 Brandon Ivey Fitch Ratings warned that nonbank mortgage companies could face issues if weaknesses involving MSRs emerge.Read More
Short Takes: Affordability Strains / Limited Inventory / REIT Consolidation / Enact Sharing MI Risk July 6, 2023 Brandon Ivey Average loan sizes on mortgage applications are shrinking.Read More
Solace in ARMs? Not Quite. Originations Down 38% July 5, 2023 James Dohnert First Republic Bank — now the property of JPMorgan Chase — was the top originator of ARMs in 1Q23...Read More
The Red Ink Continues to Flow at Better.com July 5, 2023 Paul Muolo Better’s merger partner — its initial public offering is designed to be accomplished via a SPAC — is Aurora Acquisition Corp.Read More
Home Equity Lending Cools in First Quarter June 30, 2023 Brandon Ivey The volume of new home equity line of credit commitments and closed-end second liens originated in the first quarter of 2023 declined by 19.0% compared with the previous quarter.Read More
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