The Mortgage Bankers Association, in a Jan. 21 letter to Federal Housing Finance Agency Director Mark Calabria, urged caution on a proposed “waterfall approach” to pooling practices used by Fannie Mae and Freddie Mac in the Uniform Mortgage-Backed Security market, saying in its current form the proposal could have a “negative effect” on market liquidity, raise borrowing costs and reduce access to credit.
Category: News and Trends
Industry Briefs
Covius Holdings Inc., Denver, a provider of technology-enabled platforms to the financial services industry, announced it acquired Clayton Services LLC, a provider in loan due diligence and credit risk management surveillance services, from Radian Group Inc.
Nancy Alley: eClosing Best Practices, Part II: Driving Adoption with Key Stakeholders
There’s more to adopting a digital mortgage strategy than simply using the necessary technologies and processes. Successful adoption also depends on getting clear and explicit buy-in from key stakeholders, such as borrowers, lender team members and settlement agents. By getting these crucial groups on board, lenders can then make the digital mortgage experience intuitive, consistent and repeatable.
John Vella of Altisource on URLA, Non-QM Lending and Improving the Borrower Experience
John Vella serves as Chief Revenue Officer of Altisource. Previously, he served as Chief Operating Officer of Equator LLC. He began his financial services career with the Federal Deposit Insurance Corp. and Freddie Mac and later served as Chief Sales Officer for H&R Block’s mortgage company.
ATTOM: 2019 Average Home Seller Profits at Record $65,500
ATTOM Data Solutions, Irvine, Calif., said home sellers nationwide in 2019 realized a home price gain of $65,500 on the typical sale, up from $58,100 last year and up from $50,027 two years ago.
Existing Home Sales Finish Year on More Solid Footing
Existing home sales bounced back in December after a slight drop in November as housing inventories fell to record lows, the National Association of Realtors said yesterday.
Industry Briefs
Covius Holdings Inc., Denver, a provider of technology-enabled platforms to the financial services industry, announced it acquired Clayton Services LLC, a provider in loan due diligence and credit risk management surveillance services, from Radian Group Inc.
Mortgage Applications Decrease in MBA Weekly Survey
What goes up, must come down. Following a stellar start to the month last week, in which mortgage applications jumped by more than 30 percent after the New Year’s holiday, the pendulum swung back slightly.
MBA, Trade Groups Urge FHFA to Use Caution on Changes to GSE UMBS Pooling Practices
The Mortgage Bankers Association, in a letter to Federal Housing Finance Agency Director Mark Calabria, urged caution on a proposed “waterfall approach” to pooling practices used by Fannie Mae and Freddie Mac in the Uniform Mortgage-Backed Security market, saying in its current form the proposal could have a “negative effect” on market liquidity, raise borrowing costs and reduce access to credit.
MBA Statement on CFPB Letter to Congress on QM Standard
On Jan. 17, Consumer Financial Protection Bureau Director Kathy Kraninger sent a letter to members of Congress, signaling proposed changes to the current Qualified Mortgage standard.