Seller repurchases of Fannie/Freddie loans rose 17% from the first to the second quarter, with 82% of them related to loans securitized in 2018 and 2019.
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Roughly 30% of mortgage originations in 2018 were sold by lenders to an unaffiliated buyer. Correspondent activity was strongest in the government-insured market.
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Although residential originations remain strong, the loan brokerage sector has been steadily cutting jobs since the spring, according to the U.S. Bureau of Labor Statistics. Industry players question the numbers.
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MISMO released final standards for remote online notarizations, aiming to help adoption of digital mortgages. Business is booming, according to a provider of remote online notarizations.
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The Office of the Comptroller of the Currency reminded banks of a relatively new regulation that requires larger appraisal management companies to register with states before being able to provide services.
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The House is expected to approve many bills in the next few months, including housing and mortgage-related bills, but only a few will make it to the Senate floor.
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It will be the 11th issuance of its type by loanDepot.
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