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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)
FHFA Multifamily Caps Unchanged at $35B
The Federal Housing Finance Agency set the 2019 multifamily lending caps at $35 billion for Fannie Mae and Freddie Mac, unchanged from the 2018 caps. The caps are based on FHFA’s projections of the overall size of the 2019 multifamily originations market, which FHFA expects to be relatively flat compared to the market in 2018.… Read more...
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Rising Rates No. 1 Obstacle in 2019, Notes Genworth Survey
Rising rates will be the top challenge facing mortgage executives next year. They cited rates, 54 percent, as the top obstacle the housing market faces in 2019. Next were a lack of affordable housing supply, 37 percent, and government sponsored enterprise reform, seven percent, according to a survey from Genworth Mortgage Insurance of more than… Read more...
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Black Knight Acquires Ernst
BlackKnight has acquired Ernst Publishing Co., which provides fee results for loan estimates and closing disclosures and fee-engine technology. Users of Ernst's platform include 9 of the top-10 mortgage servicers, all 5 of the top title underwriters, and 9 of the 10 largest banks, according to the company. Black Knight plans to integrate Ernst's capabilities… Read more...
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Roostify Hires Corelogic Vet as CMO
Roostify has hired Courtney Keating Chakarun to serve as chief marketing officer. She joins from CoreLogic, where she served as senior vice president of marketing and innovation. “As Roostify advances along the growth trajectory powered by our world class customers and emphasis on digital innovation, strong and focused marketing leadership is imperative to position ourselves… Read more...
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Goldman Pays Down $1.8B Settlement
Goldman Sachs has forgiven principal on 746 loans as part of two mortgage-related settlement agreements with the Department of Justice and three states, Eric Green noted in his ninth report as independent monitor of the consumer-relief portions of the agreements. Goldman has been working to satisfy a $1.8-billion consumer-relief obligation under the agreements from April… Read more...
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Wells Names JP Morgan Vet To Lead Tech Team
Wells Fargo and Co. has named Courtney Smith Goodrich chief operating officer for the Enterprise Information Technology team. She joins from JP Morgan Chase and Co., where she was chief technology strategy and programs officer Smith Goodrich will report to Scott Dillon, chief technology officer. In her role, she will have oversight responsibility for enterprise… Read more...
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Fannie Reports 75% of Net Interest Income Earned from G-Fees
Fannie Mae reported net interest income of $5.4 billion in the third-quarter derived primarily from guaranty fees on its $3.3 trillion portfolio. In fact, more than 75 percent of Fannie Mae’s net interest income in the third quarter of 2018 was derived from the loans underlying Fannie Mae mortgage backed securities in consolidated trusts, which… Read more...
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Rates Dipped This Week
Rates dropped slightly in the wake of last week’s increases, according to its Primary Mortgage Market Survey from Freddie Mac. “While higher mortgage rates have led to a decline in home sales this year, the weakness has been concentrated in expensive segments versus entry-level and first-time buyer which remains firm throughout most of the rest… Read more...
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Home Affordability in California Improves
More Californians could afford to purchase a home in the third quarter as flat home prices and stable interest rates combined to improve California housing affordability. The percentage of home buyers who could afford to purchase a median-priced, existing single-family home in California in third-quarter 2018 edged up to 27 percent, from 26 percent in… Read more...
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Fed Outlines Plan to Tie Bank Reg Scrutiny to Risk
The Federal Reserve has proposed a framework that ties the degree of regulatory scrutiny to amount of risk exposure of a bank. The proposal would reduce compliance rules for firms with less risk but would increase for firms with greater risk. "The proposal would prescribe materially less stringent requirements on firms with less risk, while… Read more...
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