Usage of Freddie Mac’s Loan Prospector is largely confined to mortgages that will be delivered to the GSEs while usage of Fannie Mae’s Desktop Underwriter is more widespread in the mortgage market.
As retail and correspondent loan sales to the agencies fell by 20%, lenders became visibly less discerning about credit quality, with credit scores dropping and DTI/LTV ratios rising. (Includes two data charts.)
Delinquency rates declined across the board at Fannie Mae, Freddie Mac and Ginnie Mae in the first quarter of 2022. The only category of loans to report higher defaults was FHA loans 120 days past due. (Includes data chart.)
Government-sponsored enterprise business in the low- and middle-risk categories increased in the first quarter of 2022. The shifts in credit characteristics occurred as originations declined. (Includes two data charts.)
Home prices have come untethered from rent, which could be a sign of “irrational exuberance,” according to economists from the Federal Reserve Bank of Dallas.
The lack of purchase-mortgage lending activity in Detroit contributes to low home values, deteriorating housing stock and high rates of residential property vacancies, according to a new study from Detroit Future City.
The reason: Single female borrowers are generally less affluent than single male borrowers, have lower incomes and take out smaller loans, according to researchers at the Urban Institute.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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