Fannie, Freddie and Ginnie all saw sturdy increases in agency-eligible high-balance loans during the third quarter. The non-agency jumbo market remains significantly bigger, but production fell.
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With the cost of credit reports rising, many lenders have begun increasing their use of cheaper soft pulls for borderline borrowers. However, lenders say credit bureaus are raising the price for those as well.
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Black Knight didn’t receive all of the damages it sought from PennyMac while the nonbank servicer is now free and clear to use proprietary technology that’s less expensive than Black Knight’s offerings.
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When it comes to warehouse finance of nonbanks, one lender’s exit could be another’s opportunity for future growth, at least that’s what executive Kevin Mitzit of Wintrust is hoping for.
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A proposal from the Federal Communications Commission could sharply limit lead generation activity. Meanwhile, the CFPB apparently can’t do much about trigger leads and legislation in Congress hasn’t moved.
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