Housing Wire

FEBRUARY 22, 2022

Though regulators have the power to ding lenders for violating fair lending law, none of the agencies can give a special purpose credit program their blessing. Lenders are left to their own devices to design the programs, based on guidelines from the CFPB, and hope they get it right.

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Housing Wire

DECEMBER 24, 2021

Last week’s announcement from the Department of Housing and Urban Development cleared the way for lenders to adopt targeted lending programs, but so far, they are treading carefully. Special purpose credit programs allow lenders to target loan products to benefit protected classes without running afoul of fair lending law.

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Housing Wire

FEBRUARY 12, 2024

The Federal Financial Institutions Examination Council (FFIEC) on Monday issued a statement outlining examination principles related to valuation and appraisal discrimination or bias in residential lending. FFIEC is a federal interagency coalition consisting of the Federal Reserve Board of Governors (FRB), the Federal Deposit Insurance Corp.

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Valuation Appraisal Law Design 448

Housing Wire

MARCH 26, 2025

Without providing separate comments for each directive, Pulte also revoked climate risk management requirements for the government-sponsored enterprises ( GSEs ), eliminated rental payment flexibility rules for multifamily leases, and discontinued Fannie Mae s policy of repairing foreclosure properties before resale. ”

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Housing Wire

DECEMBER 20, 2024

In a statement, Meeks said the legislation is designed to make homeownership more affordable by empowering first-time buyers and young families to get ahead by reducing monthly payments and encouraging faster equity accumulation. A representative at FHA did not immediately respond to HousingWire s request for comment.

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Housing Wire

MAY 8, 2024

Fannie Mae announced on Wednesday the availability of a new web-based option for its income calculator tool, which is designed to “help mortgage professionals serve the growing number of mortgage applicants in the U.S. who are self-employed and don’t have traditional sources of income,” according to the government-sponsored enterprise (GSE).

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Mortgage Design Tools Technology 468

Housing Wire

DECEMBER 10, 2020

The country was in the middle of the financial crisis, as the consequences of the deceptive mortgage lending practices from all the years prior came crashing down. This unconventional monetary policy is designed to encourage lending and investment, adding money back into the economy and lowering interest rates.

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Housing Wire

JUNE 7, 2022

Servicers, especially those who service government-insured loan products, are under statutory time constraints that give them very little wiggle room. But unless the automation is specifically designed to solve these problems, it stands little chance of being effective. appeared first on HousingWire.

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Housing Wire

OCTOBER 23, 2020

Guild agreed to settle the federal lawsuit, brought by the Department of Justice , for just under $25 million, the government said Thursday. We also commend the whistleblower for coming forward, exposing these wrongs, and working with the government investigative team.”. It did not admit to any wrongdoing. Presented by: Total Expert.

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Mortgage Government Retail Lending 505

Housing Wire

OCTOBER 12, 2023

Wholesale lender The Loan Store launched a consumer rewards program designed to help mortgage brokers offer competitive mortgage rates. In April, the lender bought the wholesale lending business from the now-defunct Home Point Capital.

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Housing Wire

AUGUST 15, 2024

There are many government program offerings designed to support low-income borrowers and underserved communities available through banks and credit unions, including: Federal Housing Administration (FHA): FHA provides mortgage insurance on loans made by FHA-approved lenders.

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Appraisal Buzz

NOVEMBER 8, 2024

Pricing is as follows: General Admission: $595 Five Star Institute Membership Groups*: $495 *FORCE pricing varies based on membership level Mortgage Lender/Mortgage Servicer/Government: $99 Must be an employee of institutions that own or control the oversight and regulation of or the lending and servicing of real estate mortgages.

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Housing Wire

JUNE 5, 2024

Department of Housing and Urban Development (HUD) this week announced the launch of a new program designed to allow for the purchase, refinance or renovation of manufactured housing under a loan program sponsored by the Federal Housing Administration (FHA).

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Housing Wire

MAY 15, 2024

The Community Home Lenders of America (CHLA) on Wednesday released a plan that it says would “modernize” Ginnie Mae , the government-owned company that manages the securitization of government-sponsored loans. CHLA added in a statement that the release of these recommendations is designed to coincide with relevant news.

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Housing Wire

APRIL 23, 2024

Department of Labor (DOL) on Tuesday announced a new rule that governs retirement advice, requiring more financial advisers to follow stricter fiduciary standards when dispensing advice about retirement-focused investments. Retirement investors are best protected by a uniform and protective framework.”

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Housing Wire

MAY 27, 2022

The CFPB, a government watchdog agency, said lenders aren’t absolved from adverse action notice requirements under the Equal Credit Opportunity Act if they use complex algorithms, which Rohit Chopra, the director of the CFPB, has dubbed “black-box models.”. The requirement also applies to mortgage lenders, legal experts say.

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Valuation Law Legal Government 448

Housing Wire

OCTOBER 5, 2023

Industry-leading lender Movement Mortgage will become an “early adopter” of FICO Score 10 T, the updated credit scoring model designed to take advantage of trended data information to help expand mortgage approval rates. The word “trended” is the source of the “T” in the 10 T name.

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Appraisal Buzz

JUNE 7, 2024

A decrease in the MCAI suggests tighter lending rules, whilst an increase in the index indicates looser credit. The Conventional MCAI climbed by 0.3%, while the Government MCAI fell by 0.1%. Conventional, Government, Conforming, And Jumbo Mcai Component Indices The MCAI rose by 0.1% The MCAI increased by 0.1%

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Mortgage Government Design Lending 343

Housing Wire

JANUARY 24, 2024

Government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac announced this week the release of their “Mission Index,” updating or expanding their single-family social bond framework to better communicate the goals of the index to stakeholders and investors. The GSEs issued separate announcements and a joint statement.

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Investors Lending Finance Design 493

Housing Wire

JANUARY 12, 2021

Following other recent moves from the government-sponsored enterprises to the private sector, former Fannie Mae Head of Digital Products Henry Cason announced his move to FinLocker , a consumer-permissioned personal financial assistance tool. FinLocker CEO Henry Cason. So why change direction now?

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Tools Loan Officers Lending Design 465

Housing Wire

MARCH 10, 2023

California-based Impac Mortgage Holdings is repositioning itself as a mortgage brokerage and voluntarily giving up its seller-servicer designation with Fannie Mae and Freddie Mac. Impac is transitioning its retail consumer direct lending division into a mortgage broker fulfillment model to offer various products at a reduced cost per loan.

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Mortgage Retail Design Sellers 370

Housing Wire

DECEMBER 4, 2024

Their statement is designed to highlight “examples of risk management and other practices that can be effective in identifying, preventing, and responding to elder financial exploitation.” These include effective governance and oversight, as well as employee training, to allow for quicker spotting of a potential instance of EFE.

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Housing Wire

MARCH 28, 2024

Just five lenders originated more than 75% of all home-only loans from 2018 to 2022, four of whom specialize in home-only lending. The home-only lending market presents several major opportunities. For lenders, the market offers the prospect of a new and growing line of business.

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Business Finance Lending Buyers 476

Housing Wire

AUGUST 2, 2024

Prospective borrowers with strong credit are locking in mortgages this week at the lowest rates in more than a year, loan officers and lending executives told HousingWire on Friday. Daniel Sa, a division president at NFM Lending , said he’s been proactive in communicating with past clients about how they can benefit from refinances.

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Mortgage Clients Loan Officers Lending 514

Housing Wire

NOVEMBER 29, 2022

This was “likely attributable to massive government stimulus and other support programs designed to stabilize the housing market during the COVID-19 pandemic,” according to the report. Bias in lending is a challenge that the mortgage industry has been struggling with, as seen from a handful of suits.

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Housing Wire

JANUARY 29, 2021

This surge in eNote usage also comes as more lenders and even government agencies begin accepting eClosings. More importantly, consumers expect the mortgage lending process to be as easy for them as other types of transactions that are completely digital. “No Presented by: SimpleNexus.

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Law Lending Mortgage Design 448

Housing Wire

OCTOBER 2, 2023

Rocket’s move shows that the mortgage lender is confident the maximum loan limit set by the federal government will rise by at least 3.3% in 2024 (the current limit on conventional loans is $726,200).

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Housing Wire

SEPTEMBER 8, 2022

Well, it isn’t 2008, but this type of loan does have risk — and it’s the risk that is traditional among all late economic cycle lending in America when the loan requires low or no downpayment. The entire system has to be designed to inflate the price over time. Remember, the system is designed to keep home prices inflated.

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Inventory Law Housing Market Design 544

Housing Wire

APRIL 27, 2023

The company will now operate as a mortgage brokerage, giving up its retail consumer direct lending division and winding down its third-party origination (TPO).

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Retail Brokerage Lending Design 397

Housing Wire

OCTOBER 1, 2024

The Federal Housing Administration (FHA) on Tuesday issued an informational notice to mortgage lenders in which it reiterates various loss-mitigation options afforded to companies and borrowers who are engaged in FHA lending programs in presidentially declared major disaster areas (PDMDAs).

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Housing Wire

OCTOBER 16, 2023

At a time when you desperately need stability, your own government is sowing the seeds of profound instability. The MBA, alongside several other trade groups, sent a letter to lawmakers and monetary policymakers that the government can do much more to help the housing industry while still fighting inflation. And we’re playing offense.”

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Government Lending Mortgage Finance 448

Housing Wire

DECEMBER 10, 2021

“If you look in the last 15 to 20 years, the self-employed portion of the country has been increasing every year,” said Keith Lind, executive chairman and president of Acra Lending (formerly known as Citadel Servicing ). The pandemic has only accelerated that, with more people self-employed or wanting to be entrepreneurs.

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Lending Finance Mortgage Government 497

Housing Wire

DECEMBER 2, 2020

It would require coordination and cooperation with government and the transformation of processes and systems within industry giants. Sure, new online lending operations like SoFi, Better and a handful of others are taking advantage of their lack of traditional infrastructure. Of course, disruption is the whole point.

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Mortgage Lending Modernization Technology 434

Housing Wire

SEPTEMBER 10, 2024

All designated DDAs in metropolitan areas (taken together) may not contain more than 20% of the aggregate population of all metropolitan areas, and all designated areas not in metropolitan areas may not contain more than 20% of the aggregate population of all nonmetropolitan areas,” according to the entry in the Federal Register.

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Housing Wire

JUNE 24, 2021

Panelists: Brian Covey, VP, Regional Production, loanDepot Andrew Haberman, Digital Marketing Manager, Synergy One Lending Neel Dhingra, Mortgage Banker, All Western Mortgage Brena Nath, Managing Editor, HousingWire. Panelists: Scott Betley, Loan Officer, NFM Lending Brena Nath, Managing Editor, HousingWire. Building a Personal Brand.

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Housing Wire

APRIL 1, 2025

Last year, the office of the departments chief financial officer and its customer and design experience teams undertook an assessment of HUDs website alongside its Digital Experience Working Group, which was comprised of representatives from every program office.

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Modernization Insurance Technology Design 248

Housing Wire

MAY 25, 2022

There is also the matter of efficiency versus increased lending cost. As government regulations constantly shift, keeping on top of and adhering to these changes can become a time-consuming task. The Newrez non-QM suite is comprised of three different loan types, each designed for a different kind of borrower.

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