The shift to lower-risk loans was particularly pronounced in the GSE refinance market, where streamlined property valuation was available for many mortgages. (Includes two data charts.)
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California remained the top market for insured mortgage originations in the third quarter, though volume was up 16.6%, compared with a 19.1% increase nationwide. (Includes data chart.)
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While AmeriHome, Caliber Home Loans and Guild Mortgage have noted strong profits and plans for growth, their business strategies differ widely.
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The Independent Community Bankers of America said it plans to collaborate with the CFPB to test certain community bank-inspired improvements to the TRID rule through the trial disclosure “sandbox” program.
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The holding company of Fulton Bank was hit with a $1.5 million fine by the SEC for misleading disclosures regarding MSR valuations in 2016 and 2017.
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There’s plenty of evidence that housing isn’t as healthy as it appears. The most important data point is probably the increase in the rate of serious mortgage delinquencies, which reached 4.4% in the second quarter, the highest level since 2014.
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So, you want to be a publicly traded company? Be prepared to made disclosures that normally might never see the light day. Both good and bad.
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