article thumbnail

Fannie Mae extends relaxed appraisal, lending standards

Housing Wire

Mortgage giant Fannie Mae extended its relaxed lending and appraisal standards put in place due to COVID-19 into the new year. Presented by: CoreLogic. The relaxed lending standards allowed the GSEs to use “appraisal alternatives to reduce the need for appraisers to inspect the interior of a home for eligible mortgages.”

Lending 540
article thumbnail

NerdWallet enters the mortgage broker world with acquisition of Next Door Lending

Housing Wire

California-based personal finance company NerdWallet has struck a deal to acquire brokerage firm Next Door Lending. I have really enjoyed getting to know Next Door Lending’s principals, Doug [Liska] and Jonathon, through this process,” Chen said. As part of the deal that closed Oct.

Lending 492
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Cornerstone Home Lending to acquire Roscoe State Bank

Housing Wire

Houston-based nonbank mortgage lender Cornerstone Home Lending is buying Roscoe State Bank , a traditional depository bank headquartered in Roscoe, Texas. The merged organization is to be known as Cornerstone Capital Bank, and the mortgage division will continue to be known as Cornerstone Home Lending. Presented by: Sutherland.

Lending 468
article thumbnail

Will mortgage lending get tighter in the next recession?

Housing Wire

As recession talk becomes more prevalent, some people are concerned that mortgage credit lending will get much tighter. One of the biggest reasons home sales crashed from their peak in 2005 was that the credit available to facilitate that boom in lending simply collapsed. The short (and long) answer is no, not a chance.

Lending 501
article thumbnail

Driving Mortgage Innovation: How AI and digital lending are transforming the industry

Housing Wire

If we learned anything from HousingWire’s recent AI Summit , artificial intelligence (AI) is rapidly reshaping lending by streamlining processes, reducing costs, and enhancing the overall borrower experience. In addition, the regulatory environment is ever-changing and with it comes increased burdens on the lending industry.

Lending 459
article thumbnail

5 best practices for improving the home equity lending experience

Housing Wire

And that offers an incredible opportunity for banks and non-banks alike to improve their digital channels to better support home equity lending. Home equity line of credit (HELOC) and home equity loan originations increased 50% in 2022 compared to two years earlier, according to the Mortgage Bankers Association ’s Home Equity Lending Study.

Lending 475
article thumbnail

FHFA: GSE servicers must keep fair lending data

Housing Wire

In a move the Federal Housing Finance Agency said will bolster sustainability and equity, servicers for federally backed loans will obtain and maintain fair lending data. Presented by: Selene Finance. That development prompted concern from legal experts that the information could be used as a basis for fair lending lawsuits.

Lending 397