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Navigating Volatile Markets: Strategies for Mortgage Lenders in 2023 Explore strategies for mortgage lenders to navigate volatile market conditions in 2023, focusing on interest rate adaptation, digital transformation, and customer-centric approaches.
Lending (1527)
Ginnie Mae: Restricts loanDepot’s Use of VA Loans in Securities
Ginnie Mae has restricted loanDepot from including VA loans securities due to what it considered faster than average prepayment speeds. The lender “respectfully disagrees” with the restriction, according to a press release from loanDepot. It is restricted from including VA single family guaranteed loans in Ginnie Mae I or Ginnie Mae II multi-Issuer securities. The… Read more...
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Year-End '18 Performance Metrics Strong: Black Knight
More than a decade since the start of the financial crisis, performance metrics reflect a recovery to their long-term, 2000-2005 pre-recession averages, according to the “Mortgage Monitor Report” from Black Knight. "Across the board, 2018 year-end numbers are good news from a mortgage performance perspective," said Ben Graboske, president of Black Knight's Data & Analytics… Read more...
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Digital Banking Catching on with Consumers
In a sign that consumers are embracing digital banking, more than 72% of consumers reported they felt comfortable syncing their personal finances on their mobile phones. Over 60% of consumers use financial apps for everyday banking, such as viewing account balances, budgeting and tracking expenses, or paying bills and transferring money, according to a survey… Read more...
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Crapo’s Housing Reform Proposal Reduces GSE Influence
The influence of the government-sponsored enterprises over the mortgage market will decline, under a proposed plan for housing market reform proposed in outline form by Senate Banking Committee Chairman Mike Crapo, R-Idaho. That’s because under his plan mortgage guarantors would be private companies including Fannie Mae and Freddie Mac, and they would operate under far… Read more...
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Freddie: Mortgage Rates Increased Last Week
Mortgage rates have inched up after weeks of moderating, according to the Primary Mortgage Market Survey from Freddie Mac. “Purchase applications were down this week after soaring early in the year,” said Sam Khater, chief economist for Freddie Mac. “However, softening house price appreciation along with increasing inventory of homes on the market, and historically… Read more...
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FHFA Names Roscoe Chief of Staff
The Federal Housing Finance Agency appointed John Roscoe to serve as chief of staff. He will report to Joseph Otting, acting director of the agency and assume his new position on Feb. 4. “John is a dynamic and collaborative leader with a track record of success. He brings to the position the solid judgement that… Read more...
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SEC Filing: Black Knight Pays $375M for Potential Stake in D&B
Black Knight, a member of a consortium that has agreed to acquire The Dunn and Bradstreet Corp., will spend most of the $375 million earmarked for the transaction to purchase the equity interests of another consortium member. Black Knight Inc. will invest $250 million to purchase the ownership interest of QIA FIG Holding, a Doha,… Read more...
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MBA: Mortgage Apps Drop 3%
Mortgage applications decreased 3.0 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending January 25, 2019. This week’s results include an adjustment for the Martin Luther King Jr. Day holiday. The Market Composite Index, a measure of mortgage loan application volume, decreased 3.0… Read more...
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CFPB: Servicing Was Borrowers' Top Complaint
Borrowers complained more to the Consumer Finance Protection Bureau about mortgage servicing issues than any other problem with their mortgages. Fully 11 percent of the complaints the bureau received were mortgage related, and 42 percent of them were from borrowers that had “trouble during [the] payment process,” according to “Complaint Snapshot: Mortgage” from the CFPB.… Read more...
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S&P CoreLogic: Rate of Home-Price Increases Slowing
The S&P CoreLogic Case-Shiller Indices showed that the rate of home-price increases across the U.S. had continued to slow in November. [caption id="attachment_9470" align="alignleft" width="240"] Blitzer: Low inventories are supporting home prices.[/caption] “Home prices are still rising, but more slowly than in recent months. The pace of price increases are being dampened by declining sales… Read more...
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