MBA increases odds of a recession within next 12 months; new tools to verify employment, income; downpayment size increases in 2024; new proposals from MISMO; lender raises funds; Cardinal offers processing for brokers; new hire at Nationwide Mortgage Bankers.
Six of the top 10 significant defects in loans acquired by Fannie Mae in the first quarter of this year weren’t on the list in the last quarter of 2023. Income calculation, though remained at the top of the list.
Outsourcing underwriting tasks to offshore contractors can help reduce production costs for mortgage lenders, according to an executive at Verity Global Solutions.
One reason companies should formally adopt generative AI is that three-quarters of employees say they already use ChatGPT or one of its competitors in the workplace.
Defects related to liabilities on student loans, income/employment verification and the appraisal process topped the list of items Fannie warns lenders to keep alert for.
Flexible nonbanks weathering the storm; layoffs continue at mortgage companies; tepid demand for mortgages on new homes; best execution analysis; Rocket preps AI offering; Equifax boosts mortgage-related revenue.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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