Is it really a good idea to be pushing people who may be on the margin into a mortgage commitment? Especially given the state of the GSEs and how fragile the economy is? Fannie says not just yes, but heck yes.
Ditech Mortgage Corp is expanding its lending options again. The company is now the latest lender to to jump on board with the 97% LTV programs announced by Fannie Mae and Freddie Mac earlier this month.
360 Mortgage announced it is supporting the Federal Housing Finance Agency's latest initiative to expand the credit box. The move makes 360 Mortgage one of the first pioneers to accept the GSEs' newest products to reach more first-time homeowners.
It's here. Fannie Mae and Freddie Mac officially unveiled each of their 97% loan-to-value offerings for mortgages they securitize. And while both are working to expand the credit box for first-time homebuyers, there are key differences between what each one requires.
In a speech at the Mortgage Bankers Association Convention & Expo on Monday, Federal Housing Finance Agency Director Mel Watt announced a number of policy steps aimed at increasing mortgage credit availability.
Every market bodes a different credit risk, and a new product from Collateral Analytics shows just how different each area can be. Coming in on top, San Francisco ranks as number one for the highest credit risk spread.
"The majority of outstanding Fitch-rated investment grade classes maintained stable rating outlooks, while second-quarter downgrades declined over first quarter," said Fitch Ratings Managing Director Mary MacNeill.
While other state and federal regulatory bodies overlap in their regulation of the mortgage industry, the very particular consumer focus of the CFPB is not duplicated by any other body. Will deregulation mean a return to the Wild West lending atmosphere that led to the financial crisis? What happens next? We asked John Socknat, partner at Ballard Spahr, to weigh in on what mortgage lenders and servicers can expect from a Trump administration.
Amid the potential new direction from the White House, Congress and regulators, leadership in our industry is more important than ever. Which is why HousingWire is proud to present the 40 winners of our 2016 Vanguard award. These leaders from all segments of the mortgage ecosphere demonstrate that our industry is more than capable of meeting the challenges that lie ahead.
The marketplace is full of hard and private money lenders — it will come down to who can best assist investors in completing their goals, whether that be by providing quicker close times, or with more accurate valuations. With how many options there are for borrowers, lenders will need to start competing for marketshare as borrowers shop their situations to multiple lenders, leveraging the offers against each other. This process will force lenders to update their guidelines, or be forced out of the market.