Sales to Fannie Mae and Freddie Mac saw larger concentrations of higher-risk mortgages, in both the purchase and refinance sectors. But high-FICO loans continue to account for most GSE business. (Includes two data charts.)
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Banks reported a 10% drop in retail originations through their mortgage banking operations in the second quarter. Loan sales also declined and likely continued to in the third quarter. (Includes two data charts.)
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To help produce the record volume of mortgages originated in 2020, lenders embraced technology. Changes that could have taken five years to implement were completed in 18 months.
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The mortgage industry is under increasing pressure to enhance disclosures related to climate change but is facing challenges in determining common measurements and risk models, according to a new report.
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The mortgage industry has welcomed the National Defense Authorization Act recently passed by the House for including provisions for minimum federal standards on the use of remote online notarization in mortgage closings.
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