Will Current Negative Housing Trends Continue?

Will Current Negative Housing Trends Continue?

Written By: Joel Palmer, Op-Ed Writer

The biggest question facing the mortgage industry heading into 2019 is whether current negative housing trends will continue or if the market will resume modest growth. That’s the question posed by Freddie Mac in its recently released November Forecast.


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.

FHA Releases Annual Report to Congress

FHA Releases Annual Report to Congress

Written By: Joel Palmer, Op-Ed Writer

The Federal Housing Administration’s (FHA) Mutual Mortgage Insurance (MMI) Fund remains relatively sound but continues to be dragged down by its reverse mortgage portfolio. Last week, FHA released its 2018 Annual Report to Congress on the economic condition of the MMI Fund.


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.

Managing Mortgage Borrower Data to Remain Secure

Managing Mortgage Borrower Data to Remain Secure

Written By: Joel Palmer, Op-Ed Writer

As a mortgage lender, you’re likely working with multiple clients at any one time. To process and close their mortgages, you need a host of documents. The busier the season, the more documents you’re juggling and trying to organize in your email inbox.


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.

Industry Expectations for 2019 Becoming more “Pessimistic”

Industry Expectations for 2019 Becoming more “Pessimistic”

Written By: Joel Palmer, Op-Ed Writer

Mortgage processors and underwriters may notice less overall activity in the next year. Several industry organizations and agencies have revised projections for the remainder of 2018 and 2019, and those new projections tend to be lower than previously thought.


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.

FHA to Require Second Appraisal for Certain Reverse Mortgages

FHA to Require Second Appraisal for Certain Reverse Mortgages

Written By: Joel Palmer, Op-Ed Writer

Mortgage processors and underwriters who deal with reverse mortgages may have to provide a second property appraisal in certain scenarios. The Federal Housing Administration (FHA) announced the policy recently to reduce what it calls “appraisal inflation” on reverse mortgages, officially known as Home Equity Conversion Mortgages (HECMs).


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.

FHFA Issues Proposed Rule for Uniform MBS

FHFA Issues Proposed Rule for Uniform MBS

Written By: Joel Palmer, Op-Ed Writer

Earlier this month, the Federal Housing Finance Agency (FHFA) issued its proposed rule to require Fannie Mae and Freddie Mac to “align programs, policies, and practices” that affect the prepayment rates in their securities.


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.

CFPB Issues Rule to Implement and Clarify New HMDA Amendments

CFPB Issues Rule to Implement and Clarify New HMDA Amendments

Written By: Joel Palmer, Op-Ed Writer

The Consumer Financial Protection Bureau (CFPB) has issued a ruling to clarify a key provision of the Economic Growth, Regulatory Relief, and Consumer Protection Act. Section 104(a) of the law, signed by President Trump in May, amended the Home Mortgage Disclosure Act (HMDA). This section was designed to decrease the HMDA compliance burden for smaller institutions.


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.

What Do Mortgage Underwriters and Processors Currently Earn?

What Do Mortgage Underwriters and Processors Currently Earn?

Written By: Joel Palmer, Op-Ed Writer

Mortgage underwriters are averaging annual salaries between $52,000 and $74,000, while mortgage processors are typically earning average salaries between $36,000 and $46,000.


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.

Fannie No Longer Requires Market Conditions Addendum

Fannie No Longer Requires Market Conditions Addendum

Written By: Joel Palmer, Op-Ed Writer

Mortgage underwriters and processors have one less form to manage on Fannie Mae loans. As part of its latest Selling Guide updates, Fannie announced that it is not longer requiring Form 1004MC. This was Fannie’s Marketing Conditions Addendum.


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.

FHFA Tables Credit Score Initiative

FHFA Tables Credit Score Initiative

Written By: Joel Palmer, Op-Ed Writer

After spending months assessing and asking stakeholders for input, the Federal Housing Finance Agency (FHFA) has put on hold an initiative to change credit scoring models used by Fannie Mae and Freddie Mac.


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.