As 2023 winds to a close, so too does a brutal year for the housing market, a year marked by rising rates, steep home prices, scarce inventory and anemic mortgage originations, compared with the boom […]
Mortgage credit availability declined in November, according to data from the Mortgage Bankers Association (MBA). The trade organization’s Mortgage Credit Availability Index (MCAI) dropped by 1.7% to 96.5 last month; the index was benchmarked to […]
Wells Fargo, once the largest mortgage lender in America, was accused of discrimination through the common industry practice of offering mortgage loan discounts to select borrowers, CNBC reported. The bank received Matter Requiring Attention (MRA) […]
The AARP Foundation announced it has joined a proposed class action lawsuit against Compu-Link (Celink), the nation’s largest reverse mortgage subservicer, and Reverse Mortgage Funding (RMF), formerly the largest reverse mortgage servicer nationwide. The case […]
Falling mortgage rates last week brought increased demand. Total home loan applications increased 2.8% for the week ending Dec. 1 compared to the previous week, according to data from the Mortgage Bankers Association (MBA). The […]
Digital mortgage automation solution provider Floify launched a lending platform for mortgage brokers built on the foundation of the Floify point-of-sale (POS) platform. Florfy Broker Edition is designed to provide an intuitive loan management portal […]
Freddie Mac rolled out standardized subordinate lien documents for subordinate mortgages offered by down payment assistance (DPA) providers to facilitate easier and greater use of DPA program. Historically, subordinate-lien documents for various DPA programs have […]
Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra has made the rounds this week on Capitol Hill, providing testimony to Congress in their semi-annual reviews of the CFPB. On Thursday, Chopra took questions from members […]
Mortgage originators will pay more to access consumer credit reports in 2024, reigniting complaints from mortgage lenders and trade associations. In 2024, Fair Isaac Corp. (FICO), the company that retains the rights to the market’s adopted […]
A total of 1.54 million mortgages secured by residential property (one to four units) were issued during the third quarter, according to new data from ATTOM. This represents a 3% decline from the second quarter […]
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