The latest economic and policy trends facing mortgage servicers

Join this webinar for an in-depth roundtable discussion on economic and policy trends impacting servicers as well as a look ahead at strategies servicers should employ in the next year.

2021 RealTrends Brokerage Compensation Report

For the study, RealTrends surveyed all the firms on the 2021 RealTrends 500 and Nation’s Best rankings, asking for annual compensation data for the 2020 calendar year.

A real estate professor weighs in on the future of MLSs

According to research done by Sonia Gilbukh, a real estate professor at Baruch College, there are some reasons to be concerned about the current number of real estate agents and the future of MLSs.

Lenders, it’s time to consider offering non-QM products

The non-QM market is making a comeback following a pause in 2020. As lenders rush to implement, Angel Oak is helping them adopt these new lending products.

Mortgage

MBA: Mortgage lending loosens up a bit

Mortgage Credit Availability Index inches up 0.7%

Mortgage credit availability started to expand in October even though underwriting standards remained high against historic standards, the Mortgage Bankers Association concluded in its Mortgage Credit Availability Index. 

The index inched up 0.7% to a score of 111.5 in October after two consecutive months of declines in August and September, suggesting a loosening of mortgage credit.

"We have seen a steady loosening in an incremental way since the beginning of the year," said Jonathan Corr, Ellie Mae's president and chief operating officer.

The average FICO score on new loans fell from 750 at the beginning of the year to around 732 in September, Corr explained. 

This slight fluctuation stems from investors reducing the minimum credit score requirements on certain products.  

Other investors reduced the availability of cash-out refinances and limited other programs to primary residences in programs, equating to a slight increase for the month.

Additionally, Corr said, "We have seen a significant rise in the percentage of loans with a credit score under 700."

In September, 32% of all loans closed had credit scores less than 700, compared to less than 17% a year ago.

"All of these are indicators that credit is loosening somewhat. Not drastically but we are going in the right direction," Corr added. 

Most Popular Articles

Lenders mandated to use FHA Catalyst for appraisals

Starting March 14, 2022, the Federal Housing Administration will require all lenders to use FHA Catalyst for appraisals.

Sep 21, 2021 By

Latest Articles

Existing home sales pop the 2021 housing bubble boys

So far this year, every existing home sales print has been higher in 2021 than the closing level of sales in 2020, which was 5,640,000. Even with the unhealthy home price gains that we have seen in the last two years, more Americans have bought homes with mortgages in 2020 and 2021 than any single year from 2008-2019, and this looks perfectly normal with our current demographics. HW+ Premium Content

Sep 22, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please