With prices rising, it’s becoming standard operating procedure for big lenders like Rocket to help homebuyers avoid jumbo loan pricing by getting a jump on FHFA’s official announcement.
Category: Regulations
Trump allies formulating plans to privatize Fannie and Freddie
A new “Wall Street Journal” report reveals that talks about privatization have been taking place since the spring and have included Trump confidants Larry Kudlow and John McEntee.
Mortgage lenders gearing up to use more inclusive credit scoring
Release of historical credit scores on tens of millions of loans will help lenders prepare for transition to VantageScore 4.0 next year. Release of FICO Score 10 T data next on deck.
Consumers want lowest mortgage rate, but most won’t shop for it
ICE Mortgage Technology survey finds 84 percent of homeowners who have taken out a mortgage in the last five years only considered one or two lenders before closing the deal.
Industry gets some clarity on mortgage commission rules
Fannie, Freddie and FHA say sellers can continue to pay the buyer’s agent’s commission. But it remains to be seen if buyers will be allowed to finance their agent’s commission into their mortgage.
NAR settlement may disrupt mortgage partner agent programs
If homebuyers are no longer willing to pay full commissions, what happens to lender programs that incentivize consumers to work with partner real estate agents?
Strength in home prices helped boost Fannie, Freddie 2023 profits
With a combined net worth of $125 billion after earnings this week, the mortgage giants remain on a path that could lead to eventual release from government conservatorship if political winds shift.
New credit scores from FICO, VantageScore gaining traction
Lenders won’t be required to use the more inclusive FICO Score 10T and VantageScore 4.0 scoring models before next year, but several are already using them to expand the pool of borrowers.
Flagstar mortgages could help NYCB shore up its balance sheet
Troubled New York Community Bancorp is reportedly ready to pledge about $5 billion in home loans originated by Flagstar Bank as collateral for risk transfer that would bolster its capital.
Patriot Bank denies DoJ redlining allegations, settles for $1.9M
Government alleges competitors in Patriot’s peer group made home loans in minority areas of Memphis at almost three times the rate of Patriot from 2015 to at least 2020.