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Navigating the Future of Mortgage Lending in an Unpredictable Market Discover how mortgage lenders are adapting to market volatility, embracing digital transformation, and preparing for future trends in the mortgage lending industry.
Lending (1539)
Fannie Mae Bolsters Support For Disaster Victims
Fannie Mae has launched a supplement to the post-disaster mortgage relief options the company currently offers, such as victims of the fires in California. Homeowners with a Fannie Mae owned loan whose property is in a FEMA-declared zone are eligible for free assistance from the Disaster Response Network. If the home was not damaged, but… Read more...
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No Surprise: Fannie, Freddie Refi Biz Drops
The Federal Housing Finance Agency reports that Fannie Mae and Freddie Mac have completed 253,135 refinances in the third quarter of 2018, compared with 299,460 in the second quarter. FHFA's third quarter Refinance Report also shows that 1,865 loans were refinanced through the Home Affordable Refinance Program, bringing the total number of HARP refinances to … Read more...
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Redfin, Notarize Close Loans Online
Redfin and Notarize are working together to provide the capability to close a mortgage loan online. Redfin Mortgage completed its first digital home closing November 2 for a Texas homebuyer and continues to schedule more digital closings as consumers learn about this option. "Redfin is using technology to improve the entire home buying process from… Read more...
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Coastal, Inland Towns Facing Increased Flood Risk
Hundreds of thousands of coastal homeowners could feel the devastation of rising seas from climate change within just three decades. Some 386,000 homes today are likely to be at risk of regular flooding by 2050 because of sea-level rise from climate change, under a scenario of unchecked greenhouse gas emissions, according to a new analysis… Read more...
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Trade Groups Urge Senate To Confirm CFPB Nominee
[caption id="attachment_7663" align="alignleft" width="150"] Kathleen Kraninger[/caption] The National Association of Realtors and over 20 trade groups from across the real estate industry, have sent a letter to Senate leadership and the Senate Committee on Banking, Housing and Urban Affairs urging confirmation of Kathleen Kraninger as director of the Consumer Financial Protection Bureau. The Senate is… Read more...
Bankers Feel Angst over Dems’ House Takeover
Bankers are worried about the effect of a Democratic takeover of the House. Seventy-three percent of respondents saw a Democratic takeover of the House of Representatives to be a serious concern for their bank, according to the Bank Executive Business Outlook Survey from the Promontory Interfinancial Network. Other findings from the survey demonstrate: Seventy-three percent… Read more...
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FHLB Awards $14M in Housing Grants
The Federal Home Loan Bank of Dallas in partnership with member financial institutions has awarded $14 million in Affordable Housing Program grants to 29 projects in Arkansas, Louisiana, Mississippi, New Mexico and Texas, which will result in the creation or rehabilitation of 1,853 housing units. FHLB Dallas annually returns 10 percent of its profits… Read more...
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Wells Settles Civil Suit with Blackrock, Pimco, Others
Wells Fargo Bank has settled two lawsuits with BlackRock, Pacific Investment Management Co. LLC and other plaintiffs over the bank’s role as trustee for residential mortgage-backed securities trusts. The bank will pay $43 million and denies the claims in the litigation, under the terms of the agreement. Separate from the settlement amount the bank is… Read more...
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DOJ Files Suit Against UBS, Alleging Fraud
The Department of Justice Department has filed a civil complaint against UBS and its U.S. affiliates, alleging the sale of residential mortgage-backed securities to investors was fraudulent. UBS misled investors about the quality of billions of dollars in subprime and Alt-A mortgage loans backing 40 RMBS deals, between 2006 to 2007, the years just prior… Read more...
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NRL Mortgage Deploys Forecasting Tool
NRL Mortgage has deployed Riivos Mortgage Lending's forecasting, planning and reporting application to help them analyze and capitalize on growth opportunities. NRL Mortgage is majority owned by St. Christopher's Holdings LLC, a privately owned holding company based in Houston. The technology integrates key, disparate mortgage lending data and systems, LOS, payroll, hedging execution systems and… Read more...
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