Volume was down across the board for insured mortgages, but PMIs saw a modest gain in market share in first-quarter agency MBS issuance. (Includes three data charts.)
Read More
U.S. Bank surpassed JPMorgan Chase and Wells Fargo in terms of mortgage originations in the first quarter of 2023. Profit margins also seem to be improving.
Read More
In what appears to be a response to recent bank failures, Freddie has said servicers are responsible for any losses out of custodial accounts if a depository goes bankrupt.
Read More
FHA said the amount of rental income from the accessory dwelling unit used to determine income may not exceed 30% of the total income used to qualify the borrower.
Read More
2022 was a tough year for lenders, servicers and others who make their living off of residential mortgages, which usually means lower pay for senior staff. But a review of early proxy filers revealed a few CEOs got nice raises.
Read More
Mortgage industry participants said Fannie should make public a list of condo projects that are ineligible for sale to the enterprise. Fannie said lenders have other financing outlets, including holding the loans in portfolio.
Read More
Rising interest rates limit demand for mortgages; home prices increase; few borrowers remain in forbearance; foreclosure activity up slightly.
Read More