FHFA has released detailed responses to lender questions concerning its recent directive expanding the use of VantageScore alongside FICO for mortgage underwriting. These clarifications are meant to smooth integration, maintain data consistency, and address concerns about compliance and operational challenges.
June’s Consumer Price Index (CPI) report likely closed the door on the possibility of a Federal Reserve rate cut in July, as inflation remains more persistent than many had anticipated. The data suggest that monetary policy will stay tighter for longer, leaving borrowers, homebuyers, and markets adjusting their expectations for relief.
U.S. home prices are showing signs of slowing down, with more than half of the top 100 housing markets now reporting price levels below their spring peaks. This shift suggests the housing market may be entering a more balanced phase as affordability concerns temper the pace of price growth.
The Federal Housing Administration (FHA) has rescinded more than a dozen sub-regulatory mortgage policies in an aggressive effort to streamline operations, cut costs, and reduce regulatory burdens on lenders and borrowers. The move is part of a broader strategy aimed at making FHA-backed loans more accessible and affordable.
Across the United States, homes are taking noticeably longer to sell, signaling a shift in the housing market that is affecting the behavior of buyers, sellers, and agents alike. The typical time on market has climbed to about 60 days, up significantly from roughly 38 days this time last year.
The Consumer Financial Protection Bureau (CFPB) announced earlier this month that it is implementing the changes to the Home Mortgage Disclosure Act (HMDA) that were part of the recently passed Economic Growth, Economic Growth, Regulatory Relief, and Consumer Protection Act. The FDIC released a similar statement.
Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.
In the current environment of leaks, phishing and hacked passwords, keeping access to your systems secure is paramount. Take the following as a preliminary check for..
Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.
Freddie Mac is making condominium purchases and refinances available for an automated appraisal waiver, joining fellow GSE Fannie Mae, which started the practice more than a year ago. Freddie Mac made the announcement last week. Its automated collateral evaluation (ACE) will accept eligible condo loans beginning Monday, July 16.
Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.
Almost one-third of the cost for the average multifamily development project is spent on complying with local, state and federal regulations. For about a quarter of apartment complex projects, the cost of regulations now accounts for more than 42 percent of the overall development cost.
Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.
For all the criticism it has received from the financial sector and from many in Congress and the White House, the Consumer Financial Protection Bureau can claim that at least one of its initiatives has helped both consumers and mortgage lenders — at least according to one industry measure.
Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.
Freddie Mac recently announced an initiative that continues an industry trend toward making mortgage loans more accessible. Freddie will launch its new HomeOne mortgage on July 29. HomeOne is a conventional 3 percent downpayment mortgage for qualified first-time homebuyers.
Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.
First-quarter economic growth was slower than anticipated, yet the outlook for the rest of the year remains strong. Economic fundamentals remain strong, yet “downside risks are rising.”
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In a move that could help mortgage processors and underwriters assist more first-time homebuyers, Fannie Mae is allowing lenders to fund closing cost and prepaid fees.
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Less than a year after enabling higher debt-to-income (DTI) ratios for certain mortgage borrowers, Fannie Mae is adjusting its underwriting standards to address the risk associated with many of these loans.
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More than a year into the Trump presidency, a rollback of Obama era mortgage lending regulations is gaining momentum. With encouragement from the mortgage and financial services industries, many in Congress are hoping to reduce the impact of regulations meant to combat conditions that lead to the 2008 financial crisis.
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Written By: Bonnie Wildt
I have said it before and I will say it again and that is, do not believe everything you hear or read for that matter. In this particular instance I am referring to AUS Findings. I have had countless conversations with processors and loan officer who want to know why I am asking for documentation that the AUS findings have clearly stated wasn’t needed or worse, they can’t believe I am turning a loan down that has an Approve/Eligible. So here it is again and pay particular attention to the details because just because you have an Approve/Eligible or Accept doesn’t necessarily mean you have a done deal.