Researchers with the Federal Reserve Bank of Philadelphia found a much higher share of mortgages for investment properties than would otherwise be indicated from the occupancy status stated on loan applications.
The Mortgage Industry Standards Maintenance Organization has introduced an application date decision model and white paper on how lenders can combine standardized terms and decision modeling techniques to help ensure compliance with TRID.
Applications stumbled in early February; rate locks increased in January; consulting firm opposes ICE’s planned acquisition of Black Knight; FHA ditches paper filing; Black Knight adds eNote and eVault tech.
Rocket is known for refis. Demand for refis is limited due to rising interest rates. So Rocket is taking steps to boost originations of purchase mortgages.
Rate locks declined in December and loan applications fell to levels last seen in 1996. Interest rates are to blame. Economists offer some glimmers of hope for the second half of the year.
Rising interest rates took a bigger bite out of private MI activity than FHA business in the fourth quarter of 2022. On an annual basis, primary MI activity fell, based on agency MBS issuance, though issuance volume involving loans without MI was off by even more. (Includes two data charts.)
The share of homebuyers using all cash to purchase homes rather than a mortgage is increasing. Some affluent homebuyers are avoiding purchase mortgages due to high interest rates.
FTC proposes banning noncompete clauses across wide swath of industries; Rocket unveils special purpose credit program; Guild joins other lenders in offering temporary buydowns.
Banks and thrifts reported significant declines in loan origination volume and loan sales during the third quarter. Even their loan pipelines contracted drastically. (Includes two data charts.)
RSS