Unlike subprime loans that were subjected to minimal underwriting standards in the runup to the housing crash and 2007-09 Great Recession, UWM’s zero-down loans have to meet criteria set by mortgage giant Freddie Mac. Continue reading
Mortgage rates have some room to come back down in June after PCE price index shows annual inflation easing to 2.65 percent in April, and Q1 2024 GDP growth revised downward to 1.3 percent. Continue reading
Nation’s largest mortgage lender says brokers “will no longer need to work with a title company or settlement agent for title work, balancing fees, scheduling closing or any related communication.” Continue reading
Fannie Mae and MBA economists are now in agreement that mortgage rates will come down only gradually this year and next but that home price appreciation will slow. Continue reading
Anthony Lamacchia thinks some agents are reading too much into guidance issued by mortgage giants Fannie Mae and Freddie Mac confirming sellers can continue to pay buyer’s agents’ commissions. Continue reading
Fading hopes that mortgage rates will come down in the next 12 months are primary drag on Fannie Mae’s Home Purchase Sentiment Index, but job and income concerns were also up in March. Continue reading
In a pilot program announced last week, the Biden administration cleared the way for Fannie Mae and Freddie Mac to let some homeowners refinance mortgages without paying for title insurance. Continue reading
Fannie and Freddie’s federal regulator wants lenders to synchronize adoption of bi-merge credit reporting with more inclusive FICO Score 10T and VantageScore 4.0 scoring models. Continue reading
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. Continue reading
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. Continue reading