Author Archives: Matt Carter

Fannie and Freddie boost profits even as mortgage business tanks

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The $68 billion in single-family mortgages Fannie Mae acquired during the first quarter made it the slowest period in more than 20 years. Continue reading →

New video explores potential for AI bias in mortgage lending

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Experts participating in BAD INPUT argue technology could expand access to credit, but also perpetuate discriminatory lending unless it is closely overseen. Continue reading →

Stricter rules eyed for controversial PACE energy improvement loans

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PACE loans can burden homeowners with higher property tax bills that heighten the risk they’ll get behind on their mortgages, federal regulators say. Continue reading →

Mr. Cooper says it will use AI to service $1 trillion in mortgage loans

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The loan servicer spends “several hundred million dollars a year” on call center operations and expects $50 million in annual savings at the outset of a ‘multiyear’ artificial intelligence project. Continue reading →

Impac Mortgage kicked off of NYSE American exchange, shares plunge

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The non-QM lender has kept the doors open by slashing costs and repositioning its retail consumer direct channel, CashCall Mortgage, to be a mortgage broker. Continue reading →

Homebuyer demand for purchase mortgages up despite higher rates

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Mortgage rates are expected to ease as markets anticipate Federal Reserve policymakers will raise rates just one more time this year and then reverse course. Continue reading →

Fannie and Freddie’s fees going up Monday despite lender objections

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The Federal Housing Finance Agency says risk-based fee increases are aimed at ensuring the mortgage giants’ safety and soundness, not to subsidize fee waivers for buyers of limited means. Continue reading →

Home sales will be ‘subdued’ for rest of 2023, Fannie Mae projects

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The housing sector’s resilience to higher prices and mortgage rates has bolstered prices, but a lack of for-sale inventory is expected to limit sales, according to Fannie’s latest monthly forecast. Continue reading →

More tech vendors approved to support appraisal-free mortgages

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Stewart Valuation Intelligence (SVI) is the latest technology vendor to be approved by Fannie Mae to support the new value acceptance + property data valuation process. Continue reading →

Fairway loses 8 California branches to rival Guild Mortgage

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The defection of former Fairway division manager John Lowe and 40 colleagues who originated $350 million in loans last year “is equal to that of a mini acquisition.” Continue reading →