Tag Archives: qualified mortgage

Sprout Mortgage is 2nd non-QM lender to implode in as many weeks

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Failures raise questions about the viability of a small but growing corner of the mortgage business that largely serves self-employed borrowers. Continue reading →

First Guaranty Mortgage cuts 76% of workforce, leaving partners in lurch

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Non-QM lender lender lays off three-fourths of workforce, saying it’s experienced “significant operating losses and cash flow challenges” and has been unable to obtain funding. Continue reading →

Take your pick: Encompass handles both old and new qualified mortgage rules

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Fannie and Freddie will use new price-based qualified mortgage rule for loans with settlement dates after Aug. 31. Continue reading →

New restrictions on Fannie, Freddie refis blamed for tighter mortgage credit

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Mortgage lenders tightened underwriting standards in June, undoing much of the easing seen over the last six months as initial fears about the long-term impacts of the pandemic began to wane. Continue reading →

Fannie, Freddie to adopt new underwriting standards for qualified mortgages on July 1

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Mortgage Bankers Association says lenders have been gearing up for changes, and new standards will actually increase access to credit. Continue reading →

NAR calls for improvements to the qualified mortgage rule

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The National Association of Realtors is calling on the Consumer Finance Protection Bureau to improve the qualified mortgage definition and government-sponsored entity patch, as well as support an extension before figuring out the long term solution. Continue reading →