Since the Federal Housing Finance Agency outlined its goals for 2013, which included the divestiture of higher risk assets, both Fannie Mae and Freddie Mac have put several bids wanted in competition lists into the market.
While the residential mortgage markets worry about what happens when Fed concludes its mortgage-backed securities (MBS) buy program at the end of next month, everyone else appears to be miles ahead, worrying about what the Fed Reserve is going to do with its heap-o MBS.
“Nearly every part of the real estate process has been transformed by technology except for home financing. Getting a mortgage is still manual, frustrating and confusing,” said Nick Stamos, CEO and founder of Sindeo..
Legacy insurers are headed toward solid ground, with some experiencing their first full year of profitability since the housing crash. New entrants, meanwhile, are raising capital, entering the fray and gaining market share. Read More
First, I’m not suggesting totally yanking FICO or Vantage Scores or anything like that. What I am recommending is the adoption of other models that would equally, or even more effectively, determine who can repay a loan. Read More